vancouver west CONDO - JANUARY 2 0 2 4
SALES TO LISTINGS RATIO 18% BALANCED MARKET
▶ MARKET SUMMARY
AVERAGE PRICE
AVERAGE PSF PRICE ▲ 9% VS 2023
MEDIAN PRICE
TOTAL LISTINGS
SALES
▲ 24% VS 2023
▲ 10% VS 2023
▲ 21% VS 2023
▲ 38% VS 2023
There were 490 condo listings in Vancouver West in January, 2% above December and 21% higher than January 2023. January condo sales increased by 14% month-over-month, to 87, and were 38% above January 2023. The sales-to-listing ratio for condos in Vancouver West, at 18%, reflected a balanced market. The condo median price in January was $915,000, a 8% increase from December and 10% above January 2023. The average sold price was $1,157,779, 17% above last month; the average PSF sale price was $1,147, up 3% to last month.
THIS MONTH No. $1,147 $1,157,779 $915,000 18% 87 490
PREVIOUS MONTH
PREVIOUS YEAR
No.
% Change
No.
% Change
TOTAL LISTINGS TOTAL SALES SALES-LISTINGS RATIO MEDIAN SOLD PRICE AVERAGE SOLD PRICE AVERAGE PRICE PSF
$1,050 $934,784 $833,000 16% 63 404
9% 24% 10% 14% 38% 21%
$1,110 $987,466 $844,500 16% 76 480
3% 17% 8% 12% 14% 2%
▶ AVG PRICE PER SQUARE FOOT
▶ RECENT TRENDS
● JAN 2023 ● JAN 2024
● SALES ● TOTAL INVENTORY ● MEDIAN PRICE
596
588
558
622
516
539
451
490
480
470
452
446
404
225
203
157
155
103
169
155
87
116
109
63
96
76
$925K
$920K
$910K
$915K
$900K
$895K
$875K
$866K
$870K
$850K
$845K
$833K
$803K
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
100
4+ bdrms
4
80
14
60
3 bdrms
78
40
27%
48
21%
22% 23%
2 bdrms
20
15%
248
12%
7%
0
25
<$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
1 0 n/a
28 6 21%
79 21 27%
102 22 22%
71 16 23%
89 6 7%
73 9 12%
47 7 15%
160
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. 53 ●
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