April apartment sale numbers in West Vancouver were not much different from the month before, year-over-year and just above the Ten Year Monthly Average; 17,16, 16 and 15 respectively.
New listings for apartments In West Vancouver totalled 30 in April. This represents a 25% decrease compared to new listings in April 2014 and about a 36% increase from 22 new listings in March. Last month's new listing count, 30 was in keeping with the the community's 10-year monthly new listing average, 29.
Apartment prices in West Vancouver have experienced modest gains over the last twelve months. The MLS® Home Price Index composite benchmark price for West Vancouver apartments is currently $625,200. This represents a 6% increase compared to April 2014.
The sales-to-active-listings ratio currently sits at 0.18 for West Vancouver apartments. The past three months of 2015 this measure has been holding pretty much in balanced territory, that is, many of the key market indicators, such as price, are stable and conditions therefore don't tilt in favor of buyers or sellers.
End of April there were 5.6 months of inventory (MOI), that is, it would take 5.6 months for all West Vancouver apartments for sale on the market to sell, given April's sale numbers. April's MOI is below the Ten Year Monthly Average of 8.8. Furthermore the past three months MOI has been trending lower than the previous year.
Quick summary of West Vancouver apartment market activity this past April...