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
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:
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.
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.
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.