Downtown condo market "balanced" in March  

Vancouver’s downtown condo and townhouse real estate market saw a 30% increase in condo sales, an inventory increase of 10%, and a decrease in sale prices of 9% in March compared to February. 

Current trends put the downtown, Yaletown, and Westend markets in “Balanced” market conditions. Coal Harbour remains in “Buyer’s” market conditions. 

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

Neighbourhood Breakdown

  • Downtown 17% with 329 listings and 55 sales 
  • Westend 14% with 173 listings and 24 sales
  • Yaletown 12% with 261 listings and 32 sales  
  • Coal Harbour 6% with 139 listings and 9 sales

The BIGGER picture

The overall list to sales ratio for all of Vancouver downtown was 13% in March, up from 11% in February.
Here’s the breakdown for Vancouver Downtown condos and townhomes in March:

  • The most active price range was for homes between $400k-$500K (85% sales to list ratio)
  • Homes are selling on average at 3% below list price
  • Buyer’s Best Bet: Homes $5M +, Coal Harbour and 3  bedroom properties
  • Seller’s Best Bet: Selling Homes in the Downtown 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.