Real Estate Market Update

April's Upward Trend



As April 2021 statistics show, we continue to see remarkable figures month on month. Sales in April of 2021 were 342% higher than sales in April of 2020.

What actually happened in the month? We saw 3.2% increase in detached home sales.That’s a staggering number for the month, but we did see inventory levels jump about 15%, and we saw the sales to active ratios come down.

On the condo side, we saw a bump in inventory, and sales to active ratios came down but we also saw a 1.9% increase in condo prices.

For townhomes, the sales to active ratios did continue to climb in most areas. We also saw a 3.2% gain in prices over the month.

April 2021 statistics show that the sales to active ratio is starting to come down. This means we might be seeing a little bit more of a leveling in prices, or at least slowing of price growth. The numbers are suggesting we might see 6 to 8% growth in the next 12 months as opposed to 18 to 20% growth.

The multiple offer madness is slowing and seems to have peaked likely in the last couple of months. We’re now seeing people getting accepted offers still at quite high prices but maybe they are now only competing with 2 people instead of 6 or 7.

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ISAAC CHEUNG

Mobile: 778-838-1105

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Office Info

Oakwyn Realty Inc.

3195 Oak Street  Vancouver,  BC  V6H 2L2 

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