vancouver region CONDO - AUGUST 2 0 2 4
SALES TO LISTINGS RATIO 17% BALANCED MARKET
▶ MARKET SUMMARY
AVERAGE PRICE
AVERAGE PSF PRICE ▼ 1.0% VS 2023
MEDIAN PRICE
TOTAL INVENTORY
SALES
▲ 3% VS 2023
▲ 52% VS 2023
▼ 1.8% VS 2023
▼ 21% VS 2023
There were 7,998 condo listings in the Vancouver Region in August, 3% below July and 52% higher than August 2023. August condo sales decreased by 14% month-over-month, to 1,340, and were 21% below August 2023. The sales-to-listing ratio for condos in the Vancouver Region, at 17%, reflected a balanced market. The condo median price in August was $658,250, a 0.5% increase from July and 1.8% below August 2023. The average sold price was $770,117, 2% above last month; the average PSF sale price was $876, up 0.2% to last month.
THIS MONTH No.
PREVIOUS MONTH
PREVIOUS YEAR
No.
% Change
No.
% Change
TOTAL INVENTORY TOTAL SALES SALES-LISTINGS RATIO MEDIAN SOLD PRICE AVERAGE SOLD PRICE AVERAGE PRICE PSF
1,340 7,998
1,690 5,248
-1% 3% -1.8% -48% -21% 52%
1,567 8,249
0.2% 2% 0.5% -12% -14% -3%
$876 $770,117 $658,250 17%
$886 $744,580 $670,000 32%
$874 $752,005 $655,000 19%
▶ AVG PRICE PER SQUARE FOOT
▶ RECENT TRENDS
● AUG 2023 ● AUG 2024
● SALES ● TOTAL INVENTORY ● MEDIAN PRICE
7,732
7,998
8,249
7,103
8,001
6,238 6,048
5,966
6,037
5,248
5,456
4,758 4,851
1,878
1,567
1,517
1,363
1,690
1,340
1,784
1,618
1,645
1,329
1,142
1,060
999
$678K
$670K
$671K
$671K
$673K
$658K
$650K
$652K
$650K
$650K
$655K
$645K
$630K
Vancouver Region
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
2,500
4+ bdrms
63
2,000
1,500
95
3 bdrms
773
1,000
738
21% 19%
16%
2 bdrms
14%
500
4,355
8%
7%
7%
6%
0
507
<$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
2,363 494 21%
2,407 466 19%
1,398 189 14%
633 104 16%
422 34 8%
375 27 7%
125 9 7%
275 17 6%
2,807
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. 7 ●
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