Coal Harbour bounces back as downtown market balances in August

August ended for the the Vancouver downtown condo market in overall “balanced” conditions. When compared to July inventory rose by 13%, sales decreased by 1%, and sale prices rose by 9%. Coal Harbour which had been stuck in a buyer’s market for a many many months finally saw a return in demands by buyers and increased sales activity.   

Current trends have all neighbourhoods, downtown, West End, Yaletown, and Coal Harbour in “balanced” market conditions.

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 August

  • Downtown 15% with 408 listings and 61 sales 
  • Westend 17% with 235 listings and 40 sales
  • Yaletown 17% with 301 listings and 50 sales 
  • Coal Harbour 17% with 141 listings and 24 sales

The BIGGER picture

The overall list to sales ratio for ALL of Vancouver downtown was 16% in August (down from 18% in July).

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

  • The most active price range was for homes between $500K to $600K & $800K to $900K (average 30% sales to list ratio)
  • Homes are selling on average at 100% of list price
  • Buyer’s Best Bet: Homes $5 mil plus, Downtown, and up to 3 bedroom properties
  • Seller’s Best Bet: Selling Homes in the Coal Harbour, Westend, Yaletown, and up to 1 bedroom properties. 
vancouver downtown condo trends

Check out our average live price updates by neighbourhoods here.

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All stats derived from Dean Wegman & SnapStats.