Vancouver-area home sales fell closer to normal levels in April, real estate council says

The Greater Vancouver Real Estate Board says home sales in the region fell in April and returned to more historically typical levels for the month.

The board said Tuesday that home sales in the area it covers totaled 3,232 in April, down from 4,908 in April 2021 and 4,344 homes in March 2022.

Sales in April were 1.5 percent above the 10-year sales average for the month.

REBGV Chairman Daniel John said the return to a more traditional pace of home sales over the past two months gives hopeful homebuyers more time to make decisions, secure financing and conduct other due diligence, such as home inspections.

The board said there were 6,107 detached, attached, and apartment homes for sale on the Multiple Listing Service (MLS) in the Vancouver area in April, a 23.1 percent drop from April 2021 and an 8.5 percent drop. compared to March 2022.

The sale came as the composite benchmark of the MLS home price index for all homes in the area was $1,374,500, up 18.9 percent from April 2021 and up one percent from March this year.

The cities and areas covered by the REBGV statistics are Burnaby, Coquitlam, Maple Ridge, New Westminster, North Vancouver, Pitt Meadows, Port Coquitlam, Port Moody, Richmond, South Delta, Squamish, the Sunshine Coast, Vancouver, West Vancouver and Whistler.

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