Vancouver Condo Prices Set New Highs in April Similar to last month (Vancouver Condo Report March 2017) the market continues it’s torrid pace. New listings and inventory are scarce as would be sellers hold put. This is suppressing inventory and keeping upwards pressure on prices. Yep, just when you think Vancouver condos couldn’t get any pricer they find another leg up. Let’s break down the sales, inventory, and prices by area. Vancouver Condo Sales Vancouver condo sales fell by 21% year over year. Of course this drop is coming off a record year. Vancouver condo sales are still are right on par with their 10 year average for the month of April. There are definitely fewer buyers this year but with inventory being so low it hasn’t made any difference on prices. Here’s how sales look for the month of April over the past 10 years. New Listings/Inventory Levels New listings continue to trend well below normal levels. Vancouver condo new listings fell by 24% year over year and 34% below the 10 year average. Amidst a housing crisis many sellers are choosing not to sell in fear that they will be stuck in a vicious bidding war when trying

Multiple Offers Soar in March as Inventory Falls 17% Similar to last month (Vancouver Condo Report February 2017) the Vancouver condo has maintained it’s red hot pace. This is largely due to falling inventory, which is down from last years record low. Despite sales plopping nearly 29%, prices are setting new highs in Vancouver. Vancouver Condo Sales   Vancouver condo sales fell across the board. Vancouver West condo sales fell 33% year over year, while Vancouver East sales fell by 14% when compared to March, 2016. The drop off in sales is likely more a result of record low inventory levels. New Listings/Inventory Levels New listings and inventory levels continue to plummet. For Vancouver West new listings fell by 24%, while overall inventory levels also sank by 18%. This is without a doubt the biggest contributor to the overheated condo market. Current inventory levels are at all time lows and it’s not even close. Just see below. Vancouver Condo Prices Click Here to Access Price Per Square Foot Summary The Vancouver condo market is arguably as hot as it’s ever been. After hitting it’s peak in June, 2016 it cooled down and we saw some downwards pressure on prices during