August sees active downtown condo market but sale prices & inventory soften 

Vancouver’s downtown condo and townhouse real estate market saw a 5% decrease in sale prices, a 5% increase in sales, an inventory decrease of 15% when comparing July to August.

Current trends put the downtown, Westend, and Yaletown markets in “Seller’s” market conditions. Coal Harbour continues to remain weak and 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

What does it mean?

Generally, analysts say downward pressure on home prices occurs when the ratio dips below 12 per cent for a sustained period, while home prices often experience upward pressure when it surpasses 20 per cent over several months.

Neighbourhood Breakdown

Downtown 32% with 240 listings and 76 sales 
Westend 25% with 156 listings and 39 sales
Yaletown 30% with 168 listings and 30 sales 
Coal Harbour 7% with 140 listings and 10 sales

The BIGGER picture

The overall list to sales ratio for ALL of Vancouver downtown was 25% in August.

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

The most active price range was for homes between $400k-$500K (86% sales to list ratio)
Homes are selling on average at 3% below list price
Buyer’s Best Bet: Homes between $2.25M to $2.5M/2.75M to $3M, Coal Harbour and 3 bedroom properties
Seller’s Best Bet: Selling Homes in Downtown neighbourhood and up to 1 bedroom properties. 

NEW! Check out our average live price updates by neighbourhoods here

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.