Vancouver downtown condo's selling on average at list price in March

Vancouver’s downtown condo and townhouse real estate market in March continues its cooling trend but remains a Seller’s market especially for the least expensive homes. The West End was the strongest neighbourhood, followed by the Downtown area, Yaletown, and then finally Coal Harbour.

The overall list to sales ratio* for downtown was 47%, down from 50% in February.

Here’s the breakdown for Vancouver Downtown condos and townhomes in March:

  • The most active price range was for homes between $500k-$600K (100% sales to list ratio) and homes $1M to $1.25M (75% sales to list ratio) Same as last month.
  • Homes are selling on average at list price.
  • Buyer’s Best Bet: Homes between $600K to $700K, and $5M plus Coal Harbour neighbourhood & 3 bedroom properties
  • Seller’s Best Bet: Selling Homes in West End and up to 1 bedroom properties. Same as last month.

In March this year Vancouver downtown condo inventory rose substantially, total sales were flat, while benchmark sale prices edged down for the second month in a row.

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*Buyer’s Market 1-11%, Balanced Market 12-20%, Seller’s Market 21% and up.

All stats derived from SnapStats andDean Wegman.