Downtown condo market sees inventory, sales, and prices decrease in November 

The Vancouver downtown condo and townhouse market remained “balanced” overall in November. When compared to October inventory was up by 11%, sales down by 1%, and sale prices down by 3%.

Looking specifically at the individual downtown neighbourhoods in November the situation was similar to October:

Coal Harbour remained in a “buyers” market, while the West End, Downtown, 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 November

  • Downtown 18% with 386 listings and 71 sales 
  • Westend 16% with 201 listings and 33 sales
  • Yaletown 16% with 292 listings and 57 sales 
  • Coal Harbour 11% with 148 listings and 17 sales

The BIGGER picture

The overall list to sales ratio for ALL of Vancouver downtown was 17% in November.

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

  • The most active price range was for homes between $400K to $500K (average 42% sales to list ratio)
  • Homes are selling on average at 4% below list price
  • Buyer’s Best Bet: Homes $1.75 mil to $2 mil, Coal Harbour, and minimum 3 bedroom properties
  • Seller’s Best Bet: Selling Homes in 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.