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REBGV April market review

Blog by Nick Swinburne | May 4th, 2011

The Greater Vancouver Real Estate Board release their stats for April and say that the Greater Vancouver market is typical for spring activity.

Residential property sales of properties in Greater Vancouver reached 3,225 in April 2011.  This is  an 8.2 per cent decrease compared to the 3,512 sales in April 2010 and a 21 per cent decline compared to the 4,080 sales in March 2011.

“While it continues to be a seller’s market in Greater Vancouver, last month’s activity brought greater balance between supply and demand in the overall marketplace,” Rosario Setticasi, REBGV president said. “The year-over-year decline in April sales can be attributed to a less active condominium market on our MLS®, as there were more detached and townhome sales this April compared to last year.”

New listings in Greater Vancouver totalled 5,847 in April 2011 which is a 23.5 per cent decline compared to April 2010; 7,648 properties were listed for sale on the MLS®, which was an all-time record for April. Compared to March 2011, it was a 14 per cent decline.

click here to review the stats package