west vancouver CONDO - JANUARY 2 0 2 4
SALES TO LISTINGS RATIO 8% BUYERS' MARKET
▶ MARKET SUMMARY
AVERAGE PRICE
AVERAGE PSF PRICE ▲ 14% VS 2023
MEDIAN PRICE
TOTAL LISTINGS
SALES
▲ 45% VS 2023
▲ 28% VS 2023
▲ 1.4% VS 2023
▼ 33% VS 2023
There were 74 condo listings in West Vancouver in January, 3% above December and 1.4% higher than January 2023. January condo sales decreased by 60% month-over-month, to 6, and were 33% below January 2023. The sales-to-listing ratio for condos in West Vancouver, at 8%, reflected a buyers' market. The condo median price in January was $1,535,000, a 21% increase from December and 28% above January 2023. The average sold price was $1,675,833, 31% above last month; the average PSF sale price was $1,194, up 19% to last month.
THIS MONTH No. $1,194 $1,675,833 $1,535,000 8% 6 74
PREVIOUS MONTH
PREVIOUS YEAR
No.
% Change
No.
% Change
TOTAL LISTINGS TOTAL SALES SALES-LISTINGS RATIO MEDIAN SOLD PRICE AVERAGE SOLD PRICE AVERAGE PRICE PSF
$1,049 $1,156,944 $1,199,600 12% 9 73
14% 45% 28% -34% -33% 1.4%
15 72
19% 31% 21% -61% -60% 3%
$1,002 $1,277,067 $1,265,000 21%
▶ AVG PRICE PER SQUARE FOOT
▶ RECENT TRENDS
● JAN 2023 ● JAN 2024
● SALES ● TOTAL INVENTORY ● MEDIAN PRICE
95
100
100
97
97
96
95
93
92
85
74
73
72
29
24
23
22
15
22
9
19
18
17
9
6
12
$1.54M
$1.47M
$1.45M
$1.38M
$1.27M $1.33M
$1.26M
$1.20M
$1.20M
$1.05M
$1.05M
$994K
$987K
WEST VANCOUVER
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
25
4+ bdrms
20
2
15
2
3 bdrms
12
50%
10
2
2 bdrms
20%
5
14%
43
8%
6%
0
2
<$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
2 1 50%
5 1 20%
8 0 n/a
7 1 14%
10 0 n/a
18 1 6%
24 2 8%
17
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. 55 ●
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