Downtown Condo Prices & Sales Rising in July

Vancouver’s downtown condo and townhouse real estate market saw a 6% rise in sale prices, a 22% increase in sales, an inventory decrease of 8% when comparing June to July. 

Current trends put the downtown and Westend markets in “seller’s” market conditions, and Yaletown in a “balanced” market. Coal Harbour remained weak in a “Buyer’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

Neighbourhood Breakdown

  • Downtown 26% with 300 listings and 78 sales 
  • Westend 23% with 176 listings and 40 sales
  • Yaletown 17% with 201 listings and 35 sales  
  • Coal Harbour 9% with 149 listings and 14 sales

The BIGGER picture

The overall list to sales ratio for all of Vancouver downtown was 20% in July. 

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

  • The most active price range was for homes between $700k-$800K (46% sales to list ratio)
  • Homes are selling on average at 4% below list price
  • Buyer’s Best Bet: Homes between $2.75M to $3M plus, Coal Harbour and 3  bedroom properties
  • Seller’s Best Bet: Selling Homes in Downtown neighbourhood 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.