Downtown condo sales rise in October highest level in a year while prices soften

Vancouver’s downtown condo and townhouse real estate market in October saw sales jump by up by 17%, sale prices decrease by 13%, and inventory decrease of 5% when compared to September.

Current trends put the downtown, Westend, and Yaletown markets in “Seller’s” market conditions while Coal Harbour was in 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 36% with 231 listings and 83 sales 
  • Westend 26% with 156 listings and 41 sales
  • Yaletown 30% with 191 listings and 57 sales 
  • Coal Harbour 13% with 138 listings and 18 sales

The BIGGER picture

The overall list to sales ratio for ALL of Vancouver downtown was 28% in October.

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

  • The most active price range was for homes between $400K to $500K (67% sales to list ratio)
  • Homes are selling on average at 2% 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 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.