The Real Estate Board of Greater Vancouver (REBGV) says market conditions in the city are changing as sales in April fell to a 17-year low for the month.

The board says 2,579 detached properties, townhouses and condominiums sold last month in Metro Vancouver, down 27.4% from April 2017 and 22.5% below the 10-year average for the month.

About 18.6% more properties were newly listed last month than in April last year, giving buyers more selection.

Still, prices moved up with the composite benchmark price for all properties at $1,092,000 – up 14.3% from the same month last year and 0.7% from March 2018.

Detached houses saw the smallest price gains, with the benchmark price at $1,605,800 – up 5.1% from April 2017 and down 0.2% from March 2018.

The benchmark price for an apartment rose 23.7% from the same time last year to $701,000, while the townhouse benchmark rose 17.7% to $854,200.

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Real Estate Board of Greater Vancouver, “Home sales down, listings up across Metro Vancouver”, accessed May 2, 2018, https://www.rebgv.org/news-statistics/home-sales-down-listings-across-metro-vancouver