Downtown condo market sees price gains in September though sales decline

Vancouver’s downtown condo and townhouse real estate market saw a big jump in sale prices in September with a 16% increase, a 3% decrease in sales, and an inventory increase of 7% when comparing to August. 

Current trends put the downtown, Westend, and Yaletown markets in “Seller’s” market conditions. Coal Harbour improved to a “Balanced” 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 28% with 264 listings and 75 sales 
  • Westend 14% with 176 listings and 24 sales
  • Yaletown 32% with 173 listings and 56 sales 
  • Coal Harbour 11% with 141 listings and 15 sales

The BIGGER picture

The overall list to sales ratio for ALL of Vancouver downtown was 23% in September.

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

  • The most active price range was for homes between $1M to $1.25M (59% sales to list ratio)
  • Homes are selling on average at 5% below list price
  • Buyer’s Best Bet: Homes between $1.75M to $2M, Coal Harbour and 3 bedroom properties
  • Seller’s Best Bet: Selling Homes in Yaletown 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.