West Vancouver's detached house market recorded an improvement in sales, a continuing trend since January. April was up about 10% over March, 41% over April 2014 and 75% stronger than the Monthly Ten Year Average (72).
New listings numbers in April were not too different than the month before (189 versus 182), down 21% from February (240) nonetheless still up 51% over the Monthly Ten Year Average (189 versus 125).
The benchmark price for a West Vancouver detached home month after month keeps moving up in the two million dollar range. $2,236,300 in April, up from March's $2, 183,700 and up 13% over April 2014's $1,979,600.
According to a new report from the Canada Mortgage and Housing Corporation "...Vancouver, one of the country's hottest real estate markets, is rated as low risk compared to other markets across Canada. Despite the fact that house prices in Vancouver are growing rapidly, demand is supported by the city's growing population and increases in personal disposable income.
It's (Vancouver) always been one of those markets that's had a higher average price, but high average price in and of itself isn't an indicator of overvaluation..."
Here's a graphic recap of West Vancouver's detached house market...