Yaletown market HOT in November 

Vancouver’s downtown condo and townhouse real estate market in November saw a 2nd consecutive month with an increase in benchmark sale prices of 3%, inventory decreased by 12%, and sales decreased by 12 % when comparing to October. Inventory and sales historically tend to decrease in November and December.

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 For November

Downtown 35% with 203 listings and 71 sales
Westend 18% with 145 listings and 26 sales
Yaletown 40% with 164 listings and 65 sales
Coal Harbour 12% with 118 listings and 14 sales

The BIGGER picture

vancouver downtown condo

The overall list to sales ratio for ALL of Vancouver downtown was 28% in November, the same as October.

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

The most active price range was for homes between $500K to $700K (59% 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+, Coal Harbour, Westend 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.