Vancouver’s downtown condo and townhouse real estate market saw a 13% increase in condo sales, an inventory increase of 11%, and a decrease in sale prices of 11% in October compared to September.
Current trends put the downtown, Yaletown, and Coal Harbour markets in a “balanced” market. The West End saw the most demand in October and is in a “seller’s” market.
How do we know? List to Sales Ratio
- A buyer’s market has a 0-12% list to sales ratio
- A balanced market has a 12-20% list to sales ratio
- A seller’s market has a 21% or greater list to sales ratio
- Downtown 17% with 336 listings and 57 sales
- Westend 22% with 167 listings and 36 sales
- Yaletown 15% with 229 listings and 34 sales
- Coal Harbour 15% with 104 listings and 16 sales
The BIGGER picture
The overall list to sales ratio for all of Vancouver downtown was 17% in October, up from 14% in September.
Here’s the breakdown for Vancouver Downtown condos and townhomes in October:
- The most active price range was for homes between $400k-$600K (50% sales to list ratio)
- Homes are selling on average at 5% below list price
- Buyer’s Best Bet: Homes between $2M to $2.25M, Coal Harbour, Yaletown, and 3 bedroom properties
- Seller’s Best Bet: Selling Homes Westend and up to 1 bedroom properties.
Thinking of buying or selling a downtown condo? We're here to help! Contact us to find out why we sell the most.
All stats derived from Dean Wegman & SnapStats.