Urban Vancouver

I’ll be posting a link to the Royal LePage Westside statistics package that is released every month. This is an excellent graphical representation for you to see what’s happening in the Vancouver real estate market.

The statistics are broken into segments for East and West sides of Vancouver. You’ll find graphs for the median selling price, listing supply, sales demand, and price history.

Vancouver West Real Estate Statistics- April 2008

Vancouver East Real Estate Statistics- April 2008

Sebastian Albrecht, Vancouver Realtor with Royal LePage Westside

The Real Estate Board of Greater Vancouver reported that April 2008 saw listings outpace sales. Listings were up over the same period last year while sales dropped slightly.

There were 3,218 sales in April 2008 which was a decline of 5% from the 3,387 sales that were recorded in April of 2007 and 3.8% drop from the 3,345 sales that were reported in April 2006.

Meanwhile, new listings for all types of properties increased by 25.6% to 7,010 in April 2008 compared to 5,580 that were newly listed in April 2007.

 ”Residential sales continue to be strong, but there is a lot more choice on the market today. This is good news for a market that has been defined by record-breaking activity for most of this decade,” said REBGV president Dave Watt.

“Despite this seeming re-balance between sales and listings, it took, on average, six fewer days to sell a home in Greater Vancouver compared to the previous year, with a days on market average of 33 in April this year,” said Watt.

The benchmark price meanwhile, continued to rise. For detached properties it rose 11% over a year ago to $771,321. For apartment properties the rise was 9.6% , and 10.5% for attached properties.

Sebastian Albrecht, Vancouver Realtor with Royal LePage Westside