5 Things You Need to Know about the Metro Vancouver Real Estate Market
Posted by Tony Cikes on
It's May and our Real Estate market is booming! I have analyzed all of the stats from April and here are 5 things you should know about our real estate market right here in Metro Vancouver:
- Supply: We had 6,361 Active listings in April which is down -25.7% from April 2014. Leaving us with only 2.2 months supply of houses and 3 months of supply for attached homes (condos, townhouses & 1/2 duplexes).
- Demand: 2,377 properties sold in April which is up +39% from April 2014.
- Prices: The average price of a house is $1,463,643 which is up +18.5% from April 2014 and the average price of an attached home is $509,425 which is up +4% from April 2014.
- Market Type: We are in a seller's market for houses with 55% of the houses selling within a…
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