vancouver west CONDO - AUGUST 2 0 2 4
SALES TO LISTINGS RATIO 18% BALANCED MARKET
▶ MARKET SUMMARY
AVERAGE PRICE
AVERAGE PSF PRICE ▼ 2% VS 2023
MEDIAN PRICE
TOTAL INVENTORY
SALES
▲ 4% VS 2023
▲ 3% VS 2023
▲ 36% VS 2023
▼ 14% VS 2023
There were 733 condo listings in Vancouver West in August, 8% below July and 36% higher than August 2023. August condo sales decreased by 14% month-over-month, to 133, and were 14% below August 2023. The sales-to-listing ratio for condos in Vancouver West, at 18%, reflected a balanced market. The condo median price in August was $894,500, a 1.4% decrease from July and 3% above August 2023. The average sold price was $1,066,243, 6% above last month; the average PSF sale price was $1,121, up 1.2% to last month.
THIS MONTH No.
PREVIOUS MONTH
PREVIOUS YEAR
No. 155 539
% Change
No. 154 794
% Change
TOTAL INVENTORY TOTAL SALES SALES-LISTINGS RATIO MEDIAN SOLD PRICE AVERAGE SOLD PRICE AVERAGE PRICE PSF
133 733
-37% -14% 36%
1.2% 6% -1.4% -6% -14% -8%
$1,121 $1,066,243 $894,500 18%
$1,148 $1,028,287 $870,000 29%
$1,108 $1,006,613 $906,950 19%
-2% 4% 3%
▶ AVG PRICE PER SQUARE FOOT
▶ RECENT TRENDS
● AUG 2023 ● AUG 2024
● SALES ● TOTAL INVENTORY ● MEDIAN PRICE
753
794
788
733
677
622
596
588
539
490
538
491
480
176
154
134
155
103
133
159
149
138
116
109
76
87
$980K
$920K
$915K
$910K
$907K
$895K
$897K
$900K
$895K
$870K
$875K
$869K
$845K
VANCOUVER WEST
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
160
140
4+ bdrms
3
120
100
10
3 bdrms
80
102
60
33%
24%
76
20%
40
19%
16%
2 bdrms
374
7%
6%
20
3%
0
47
<$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
51 8 16%
147 29 20%
144 47 33%
122 29 24%
114 7 6%
96 7 7%
32 1 3%
27 5 19%
254
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. 55 ●
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