Someone once said that April Showers will bring May’s flowers. That must have been a long time ago and was before global warming, low interest rates and stratospheric Vancouver home prices.
Someone also said that ‘Stats Don’t Lie’ and according to the Real Estate Board of Greater Vancouver our market has maintained a consistent pace with balanced conditions. With that feel good statement let’s cast aside negative thoughts as we ready ourselves for May’s bloom. In the interim lets have a look to see what a consistent balanced condition looks like in numbers.
- property sales in Greater Vancouver reached 2,799 on the Multiple Listing Service® (MLS®) in April 2012. This represents a 13.2 per cent decline compared to the 3,225 sales recorded in April 2011 and a decline of 2.6 per cent compared to the 2,874 sales in March 2012.
- April sales were the lowest total for the month in the region since 2001 and 16.9 per cent below the 10-year April sales average of 3,369.
PPS – Positive President Spin
“Although April sales were below what’s typical for the month, we continue to see, with a sales-to-active listing ratio of nearly 17 per cent, a balanced relationship between buyer demand and seller supply in our marketplace,” – Eugen Klein, REBGV President.
- New Listings – all segments totalled 6,056 in April 2012 – up 3.6 per cent from March 2012
- New Listings Last month up 6.7 per cent above the 10-year average April
- Total Active Listings – 16,538, up 8.5 per cent compared to last month
- up 16 per cent from this time last year
MLS® HPI benchmark
- Vancouver Price = $683,800 – up 3.7 per cent compared to April 2011
- Up 2.8 per cent over the last three months.
- *Lower Mainland benchmark price = $612,000 – up 3.4 per cent compared to April 2011
- Down – Total = 1,126, a decline of 19.7 per cent
- Benchmark price up 6.3 per cent from April 2011 to $1,064,800
- Down – Total = 1,190 a decline of 0.9 per cent
- Benchmark price up 1.1 per cent from April 2011 to $375,900.
- Down – Total = 483, a decline of 22.3 per cent
- Benchmark price up 1.7 per cent between April 2011 and 2012 to $487,300
Information Courtesy The Real Estate Board of Greater Vancouver
Full Report Here