vancouver region CONDO - JANUARY 2 0 2 4
SALES TO LISTINGS RATIO 22% SELLERS' MARKET
▶ MARKET SUMMARY
AVERAGE PRICE
AVERAGE PSF PRICE ▲ 7% VS 2023
MEDIAN PRICE
TOTAL LISTINGS
SALES
▲ 6% VS 2023
▲ 2% VS 2023
▲ 11% VS 2023
▲ 38% VS 2023
There were 4,847 condo listings in the Vancouver Region in January, 1.9% above December and 11% higher than January 2023. January condo sales increased by 6% month-over-month, to 1,063, and were 38% above January 2023.
THIS MONTH No.
PREVIOUS MONTH
PREVIOUS YEAR
No.
% Change
No.
% Change
The sales-to-listing ratio for condos in the Vancouver Region, at 22%, reflected a sellers' market.
TOTAL LISTINGS TOTAL SALES SALES-LISTINGS RATIO MEDIAN SOLD PRICE AVERAGE SOLD PRICE AVERAGE PRICE PSF
1,063 4,847
$812 $695,752 $630,000 18% 770 4,350
24% 38% 11%
$858 $728,701 $630,000 21% 999 4,757
1.6% 1.1% 2% 4% 6% 1.9%
The condo median price in January was $645,000, a 2% increase from December and 2% above January 2023. The average sold price was $736,839, 1.1% above last month; the average PSF sale price was $871, up 1.6% to last month.
$871 $736,839 $645,000 22%
7% 6% 2%
▶ AVG PRICE PER SQUARE FOOT
▶ RECENT TRENDS
● JAN 2023 ● JAN 2024
● SALES ● TOTAL INVENTORY ● MEDIAN PRICE
5,966
6,237
5,387
6,047
5,184
4,738
4,587
5,248
4,847
4,905
4,754
4,757
4,350
2,251
2,140
1,808
1,690
1,363
1,899
1,743
1,063
1,329
1,217
770
1,142
999
$675K
$665K
$670K
$661K
$652K
$650K
$652K
$650K
$640K
$645K
$630K
$630K
$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
1400
4+ bdrms
1200
46
1000
69
800
3 bdrms
512
600
400
30% 32%
27%
597
2 bdrms
16% 15%
200
2,618
9%
7%
7%
0
<$400K $400-599K $600-799K $800-999K $1.0M-1.24M $1.25M-1.49M $1.5M-1.99M $2M+
397
S-L RATIO SALES INVENTORY
174 52 30%
1,144 371 32%
1,380 372 27%
854 138 16%
435 64 15%
293 26 9%
266 18 7%
301 22 7%
<2 bdrms
1,671
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. 7 ●
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