April 2021 Market Update – Real Estate Stats Package 

Home sellers increasingly active in Metro Vancouver’s* housing market this spring. In response to heightened demand and rising home values that have materialized during the pandemic.

“Our housing market has changed considerably from one year ago. When COVID-19 concerns brought activity to a near standstill,” Keith Stewart, REBGV’s economist said. “This was followed by a well-documented spike in home buyer demand across the region. So far this spring, we’ve seen a corresponding supply response from home sellers.”

“While homes are now being listed at record levels, more supply is needed to meet today’s demand and help market conditions achieve greater balance,” Stewart said. Even as home sellers are increasingly active!

Last month’s sales were 56.2 per cent above the 10-year April sales average and is the highest total on record for the month.

“Record low interest rates, increased household savings, a strengthening economy and a continued focus on living space during the pandemic. All factors that are helping to bolster demand while steady price growth is encouraging more sellers to list their homes,” Stewart said.

The MLS® Home Price Index composite benchmark price for all residential properties in Metro Vancouver is currently $1,152,600. This represents a 12 per cent increase over April 2020 and a 2.6 per cent increase compared to March 2021.

Call Geoff at 604 313 7280 to discuss what is happening in your neighbourhood!

or FOR THE COMPLETE REPORT CLICK HERE