Vancouver’s downtown condo and townhouse real estate market saw a 6% rise in sale prices, a 22% increase in sales, an inventory decrease of 8% when comparing June to July.
Current trends put the downtown and Westend markets in “seller’s” market conditions, and Yaletown in a “balanced” market. Coal Harbour remained weak in a “Buyer’s” market.
How do we know? List to Sales Ratio
Neighbourhood Breakdown
The BIGGER picture
The overall list to sales ratio for all of Vancouver downtown was 20% in July.
Here’s the breakdown for Vancouver Downtown condos and townhomes in July:
If you are thinking of buying or selling a condo we're here to help. Contact us to learn how.
Current trends put the downtown and Westend markets in “seller’s” market conditions, and Yaletown in a “balanced” market. Coal Harbour remained weak in a “Buyer’s” 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
Neighbourhood Breakdown
- Downtown 26% with 300 listings and 78 sales
- Westend 23% with 176 listings and 40 sales
- Yaletown 17% with 201 listings and 35 sales
- Coal Harbour 9% with 149 listings and 14 sales
The BIGGER picture
The overall list to sales ratio for all of Vancouver downtown was 20% in July.
Here’s the breakdown for Vancouver Downtown condos and townhomes in July:
- The most active price range was for homes between $700k-$800K (46% sales to list ratio)
- Homes are selling on average at 4% below list price
- Buyer’s Best Bet: Homes between $2.75M to $3M plus, Coal Harbour and 3 bedroom properties
- Seller’s Best Bet: Selling Homes in Downtown neighbourhood and up to 1 bedroom properties.
If you are thinking of buying or selling a condo we're here to help. Contact us to learn how.
All stats derived from Dean Wegman & SnapStats.