October saw 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%.
Individual downtown neighbourhoods resulted in Coal Harbour returning to a “buyers” market in October, while the West End, and Yaletown were “balanced”.
How do we know? 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:
Individual downtown neighbourhoods resulted in Coal Harbour returning 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
For the full report visit www.vancouver-downtown-condo.ca