
Highlights of the April Market Report
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We are now in a seller’s market across Greater Vancouver
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Multiple offers are being seen as buyers roar back
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Buyers must brace for higher new home prices in ‘24
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Greater Vancouver sales are up 166% since the start of the year
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Fraser Valley detached house prices are up $60,000 since January
Total April housing sales across Greater Vancouver hit 2,741 transactions, up from 2,535 in March and a 166% increase from January 2023 and the highest monthly level since May 2022. Benchmark home prices so far this year are up 5%. Based on the current benchmark, that is an increase of nearly $60,000, and prices are still rising by 2.4% a month.
In the Fraser Valley, April sales totalled 1,554 homes, even with a month earlier and up 148% from January of this year. The benchmark detached house price is up $100,000 compared to January and the typical condo sold in April at $503,700, up $30,000 from the start of the year.