Downtown market "balanced" in October

October and the fall market have resulted in the Vancouver downtown condo and townhouse market being “balanced” overall. When compared to September inventory rose by 0%, sales decreased by 8%, and sale prices rose by 2%.

Looking specifically at the individual downtown neighbourhoods Coal Harbour returned to a “buyers” market in October, while the West End, and Yaletown were “balanced”.

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 October

  • Downtown 17% with 432 listings and 74 sales 
  • Westend 16% with 227 listings and 37 sales
  • Yaletown 16% with 337 listings and 53 sales 
  • Coal Harbour 10% with 156 listings and 16 sales

The BIGGER picture

The overall list to sales ratio for ALL of Vancouver downtown was 16% 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 (average 30% sales to list ratio)
  • Homes are selling on average at 1% below list price
  • Buyer’s Best Bet: Homes $1.5 mil to $1.75 mil, Coal Harbour, and minimum 4 bedroom properties
  • Seller’s Best Bet: Selling Homes Downtown, Westend, Yaletown, and up to 1 bedroom properties. 
vancouver downtown condo real estate

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.