{"id":1870,"date":"2016-05-06T10:10:35","date_gmt":"2016-05-06T17:10:35","guid":{"rendered":"http:\/\/www.roryc.ca\/blog\/?p=1870"},"modified":"2016-05-05T13:45:11","modified_gmt":"2016-05-05T20:45:11","slug":"metro-vancouver-housing-market-breaks-april-home-sales-record","status":"publish","type":"post","link":"https:\/\/www.roryc.ca\/blog\/2016\/05\/metro-vancouver-housing-market-breaks-april-home-sales-record\/","title":{"rendered":"Metro Vancouver Housing Market Breaks April Home Sales Record"},"content":{"rendered":"<p style=\"text-align: justify;\">Intense competition among homebuyers last month pushed residential property sales in Metro Vancouver to the highest level ever seen in April, the Real Estate Board of Greater Vancouver (REBGV) said in a report this week.<\/p>\n<p style=\"text-align: justify;\">There were 4,781 sales in the region in April, up 14.4% from April 2015 and 41.7% higher than the 10-year sales average for the month.<\/p>\n<p style=\"text-align: justify;\">According to Dan Morrison, president of the REBGV, \u201csupply is still chasing this unprecedented surge of demand in [the] marketplace.\u201d Last month there were just 7,550 Metro Vancouver properties listed on the MLS system, down 39.3 per cent from last April, when 12,436 properties were listed.<\/p>\n<p style=\"text-align: justify;\">That imbalance between supply and demand is reflected in overall Metro Vancouver housing prices. The MLS Home Price Index composite benchmark price for the region was much higher last month than it was in April 2015, up 25.3% at $844,800. The graph below shows longer-term price trends.<\/p>\n<p style=\"text-align: justify;\">\u00a0\u00a0\u00a0\u00a0 <a href=\"https:\/\/www.roryc.ca\/blog\/wp-content\/uploads\/2016\/05\/Metro-Vancouver-housing-market-breaks-April-home-sales-record.png\"><img loading=\"lazy\" decoding=\"async\" class=\"alignnone wp-image-1871\" src=\"https:\/\/www.roryc.ca\/blog\/wp-content\/uploads\/2016\/05\/Metro-Vancouver-housing-market-breaks-April-home-sales-record-300x206.png\" alt=\"Metro Vancouver housing market breaks April home sales record\" width=\"597\" height=\"410\" srcset=\"https:\/\/www.roryc.ca\/blog\/wp-content\/uploads\/2016\/05\/Metro-Vancouver-housing-market-breaks-April-home-sales-record-300x206.png 300w, https:\/\/www.roryc.ca\/blog\/wp-content\/uploads\/2016\/05\/Metro-Vancouver-housing-market-breaks-April-home-sales-record-768x527.png 768w, https:\/\/www.roryc.ca\/blog\/wp-content\/uploads\/2016\/05\/Metro-Vancouver-housing-market-breaks-April-home-sales-record.png 1024w\" sizes=\"auto, (max-width: 597px) 100vw, 597px\" \/><\/a><\/p>\n<p style=\"text-align: justify;\">The benchmark price for detached properties saw the biggest increase, as per the REBGV, rising 30.1% from last April to reach $1,403,200. Benchmark prices for apartments and attached properties saw less sizeable \u2014 but still large \u2014 upticks of 20.6 and 22.1 percent, respectively.<\/p>\n<p style=\"text-align: justify;\">Interestingly, while sales of detached properties and apartments both increased compared to April 2015, sales of attached properties fell.<\/p>\n<p style=\"text-align: justify;\">Overall, Metro Vancouver remains a seller\u2019s market, a fact that\u2019s most clearly expressed by April\u2019s sales-to-active-listings ratio. It came in at a very high 63.3%, well above the range of 20 to 22 percent when home prices generally experience upward pressure.<\/p>\n<p><a href=\"http:\/\/news.buzzbuzzhome.com\/2016\/05\/metro-vancouver-april-home-sales.html\" target=\"_blank\">Metro Vancouver Housing Market Breaks April Home Sales Record<\/a> by Charlotte McLeod | Buzz Buzz Home<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Intense competition among homebuyers last month pushed residential property sales in Metro Vancouver to the highest level ever seen in April, the Real Estate Board of Greater Vancouver (REBGV) said &hellip; [<a href=\"https:\/\/www.roryc.ca\/blog\/2016\/05\/metro-vancouver-housing-market-breaks-april-home-sales-record\/\">read more<\/a>]<\/p>\n","protected":false},"author":3,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[8],"tags":[],"class_list":["post-1870","post","type-post","status-publish","format-standard","hentry","category-market-updates"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.7 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>Metro Vancouver Housing Market Breaks April Home Sales Record &#8226; 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