At Oakwyn we’re always wanting to present the facts in an engaging way. Every month, one of our agents will unpick current market statistics from the Real Estate Board of Greater Vancouver to help you understand what’s going on in the real estate market and what you should be looking out for.
For April 2021 statistics, we have Oakwyn agent Jeff Appelbe here for his statistics report.
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.
Jeff's Key Findings
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.
Get in Touch!
Work with your Oakwyn agent, work with your trusted real estate advisor, and come up with a plan that makes sense for you in 2021 if you’re thinking about making a move. If you want to know anything about specific areas or specific property types, as always, reach out to Jeff!
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