April 2022 – Monthly Vancouver Real Estate Update

Vancouver Real Estate – Monthly Market Update – Infographic – April 2022

The primary headline for the last month in Vancouver real estate is that demand returned to more historically "normal" levels.

Sales dropped to 971 from 1,298 the previous month. That's a -25.2% decline month-to-month and also a -26.4% decline from a year ago...all of which was +5.3% over the 10-year average of 922.

New listings also fell to 1,942 from 2,118. That's -8.3% from the previous month and -23.9% from a year ago. It was also -11.2% below the 10 year average.

Total active listings rose to 3,260 from 3,064. That was an increase of +6.4% from the previous month but -15.8% from a year ago. Compared to the 10 year average it was a decline of -6.2%.

We usually see demand increasing through the spring...so seeing it drop from March to April is a bit unusual. But...we all knew this moment would come. Especially given significant global economic uncertainty as well as a slew of government interventions.

Honestly, it's been a pleasant change so far...especially for potential home buyers. They are able to take more time to make decisions and to fulfill their due diligence.

We will need to wait and see how long this subdued level of sales lasts. So far, it's having little impact on prices as supply levels are still restricted. That could change if sellers start to feel less confident in the future.

I suspect that we will see a slower market through the remainder of the spring and into the summer, but that the market will regain it's stride in the fall.

Vancouver Real Estate Statistics – April 2022 – Total Active Listings

Vancouver Real Estate Statistics – April 2022 – New Listings

Vancouver Real Estate Statistics – April 2022 – Sales

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The data relating to real estate on this website comes in part from the MLS® Reciprocity program of either the Real Estate Board of Greater Vancouver (REBGV), the Fraser Valley Real Estate Board (FVREB) or the Chilliwack and District Real Estate Board (CADREB). Real estate listings held by participating real estate firms are marked with the MLS® logo and detailed information about the listing includes the name of the listing agent. This representation is based in whole or part on data generated by either the REBGV, the FVREB or the CADREB which assumes no responsibility for its accuracy. The materials contained on this page may not be reproduced without the express written consent of either the REBGV, the FVREB or the CADREB.