vancouver downtown CONDO - JANUARY 2 0 2 4
SALES TO LISTINGS RATIO 13% BALANCED MARKET
▶ MARKET SUMMARY
AVERAGE PRICE
AVERAGE PSF PRICE ▲ 4% VS 2023
MEDIAN PRICE
TOTAL LISTINGS
SALES
▲ 3% VS 2023
▲ 9% VS 2023
▲ 19% VS 2023
▼ 4% VS 2023
There were 768 condo listings in Vancouver Downtown in January, 1.9% below December and 9% higher than January 2023. January condo sales remained the same month-over-month, at 101, and were 19% above January 2023. The sales-to-listing ratio for condos in Vancouver Downtown, at 13%, reflected a balanced market. The condo median price in January was $760,000, a 7% decrease from December and 4% below January 2023. The average sold price was $952,620, 12% below last month; the average PSF sale price was $1,134, up 0.8% to last month.
THIS MONTH No.
PREVIOUS MONTH
PREVIOUS YEAR
No.
% Change
No. 101 783
% Change
TOTAL LISTINGS TOTAL SALES SALES-LISTINGS RATIO MEDIAN SOLD PRICE AVERAGE SOLD PRICE AVERAGE PRICE PSF
101 768
$1,088 $929,373 $790,000 12% 85 705
4% 3% -4% 9% 19% 9%
0.8% -12% -7% 2% 0% -1.9%
$1,134 $952,620 $760,000 13%
$1,125 $1,080,203 $815,000 13%
▶ AVG PRICE PER SQUARE FOOT
▶ RECENT TRENDS
● JAN 2023 ● JAN 2024
● SALES ● TOTAL INVENTORY ● MEDIAN PRICE
1,067
983
909
1,033
836
782
889
869
768
783
705
775
713
222
165
155
123
122
185
187
101
159
85
121
110
101
$840K
$820K
$815K
$808K
$800K
$795K
$790K
$775K
$775K
$775K
$769K
$757K
$760K
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
150
4+ bdrms
18
4
100
3 bdrms
83
41%
50
44
23%
2 bdrms
14%
376
11%
8%
6%
5%
3%
0
53
<$400K $400-599K $600-799K $800-999K $1.0M-1.24M $1.25M-1.49M $1.5M-1.99M $2M+
<2 bdrms
S-L RATIO SALES INVENTORY
13 1 8%
56 23 41%
159 36 23%
136 19 14%
79 2 3%
66 7 11%
90 5 6%
169 8 5%
291
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 February 7, 2024. All data from Real Estate Board of Greater Vancouver and Fraser Valley & 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. 50 ●
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