vancouver downtown CONDO - AUGUST 2 0 2 4
SALES TO LISTINGS RATIO 11% BUYERS' MARKET
▶ MARKET SUMMARY
AVERAGE PRICE
AVERAGE PSF PRICE ▲ 0.3% VS 2023
MEDIAN PRICE
TOTAL INVENTORY
SALES
▲ 5% VS 2023
▲ 26% VS 2023
▼ 8% VS 2023
▼ 27% VS 2023
There were 1,121 condo listings in Vancouver Downtown in August, 5% below July and 26% higher than August 2023. August condo sales decreased by 20% month-over-month, to 121, and were 27% below August 2023. The sales-to-listing ratio for condos in Vancouver Downtown, at 11%, reflected a buyers' market. The condo median price in August was $745,000, a 6% decrease from July and 8% below August 2023. The average sold price was $1,017,402, 2% below last month; the average PSF sale price was $1,162, up 1.5% to last month.
THIS MONTH No. $1,162 $1,017,402 $745,000 11% 121 1,121
PREVIOUS MONTH
PREVIOUS YEAR
No. 165 889
% Change
No.
% Change
TOTAL INVENTORY TOTAL SALES SALES-LISTINGS RATIO MEDIAN SOLD PRICE AVERAGE SOLD PRICE AVERAGE PRICE PSF
0.3% 5% -8% -42% -27% 26%
$1,145 $1,041,317 $790,000 13% 151 1,180
1.5% -2% -6% -16% -20% -5%
$1,159 $973,151 $808,000 19%
▶ AVG PRICE PER SQUARE FOOT
▶ RECENT TRENDS
● AUG 2023 ● AUG 2024
● SALES ● TOTAL INVENTORY ● MEDIAN PRICE
1,102
1,067
1,121
1,185 1,180
1,033
1,167
983
885
889
958
783
768
174
173
165
151
123
122
101
101
165
121
170
131
121
$825K
$815K
$808K
$805K
$795K
$798K
$794K
$790K
$788K
$775K
$760K
$757K
$745K
VANCOUVER DOWNTOWN
REBGV
▶ NUMBER OF BEDROOMS
▶ TOTAL LISTINGS & SALES BY PRICE RANGE
SELLERS' MARKET 21% +
BALANCED 12 - 20%
BUYERS' MARKET <12%
● SALES ● TOTAL INVENTORY
● SALES ● TOTAL INVENTORY ● S-L RATIO
250
4+ bdrms
18
200
9
150
3 bdrms
119
100
33
20% 19%
2 bdrms
50
526
9%
9%
7%
6%
5%
3%
0
79
<$600K $600K-799K $800K-999K $1.0M-1.24M $1.25M-1.49M $1.5M-1.99M $2.0M-2.49M $2.5M+
<2 bdrms
S-L RATIO SALES INVENTORY
109 22 20%
270 50 19%
188 14 7%
119 11 9%
106 5 5%
120 11 9%
50 3 6%
159 5 3%
458
Copyright © 2024 rennie group of companies. All rights reserved. This material may not be reproduced or distributed, in whole or in part, without the prior written permission of the rennie group of companies. Current as of September 9, 2024. All data from Greater Vancouver REALTORS®, Fraser Valley Real Estate Board, Whistler Listing System, and rennie. While the information and data contained herein has been obtained from sources deemed reliable, accuracy cannot be guaranteed. rennie group of companies does not assume responsibility or liability for any inaccuracies. The recipient of the information should take steps as the recipient may deem necessary to verify the information prior to placing any reliance upon the information. The information contained within this report should not be used as an opinion of value, such opinions should and can be obtained from a rennie and associates advisor. All information is subject to change and any property may be withdrawn from the market at any time without notice or obligation to the recipient from rennie group of companies. E.&O.E. 51 ●
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