greater vancouver board area CONDO - JULY 2 0 2 4
SALES TO LISTINGS RATIO 19% BALANCED MARKET
▶ MARKET SUMMARY
AVERAGE PRICE
AVERAGE PSF PRICE ▼ 1.4% VS 2023
MEDIAN PRICE
TOTAL INVENTORY
SALES
▲ 0.3% VS 2023
▲ 51% VS 2023
▼ 0.7% VS 2023
▼ 7% VS 2023
There were 6,195 condo listings in the Greater Vancouver board area in July, 2.0% above June and 51% higher than July 2023. July condo sales decreased by 4% month-over-month, to 1,197, and were 7% below July 2023. The sales-to-listing ratio for condos in the Greater Vancouver board area, at 19%, reflected a balanced market. The condo median price in July was $720,000, a 0.7% decrease from June and 0.7% below July 2023. The average sold price was $817,011, 0.2% below last month; the average PSF sale price was $942, down 0.9% 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
1,197 6,195
1,284 4,102
-1.4% 0.3% -0.7% -38% -7% 51%
1,249 6,076
-6% -4% 2%
$942 $817,011 $720,000 19%
$955 $814,584 $725,000 31%
$950 $818,750 $725,000 21%
-0.9% -0.2% -0.7%
▶ AVG PRICE PER SQUARE FOOT
▶ RECENT TRENDS
● JUL 2023 ● JUL 2024
● SALES ● TOTAL INVENTORY ● MEDIAN PRICE
5,873
6,195
5,377
6,076
4,772
4,593
4,556
4,612
4,102
4,153
3,909
3,672
3,593
1,425
1,276
1,095
1,044
1,284
1,197
1,338
1,249
1,210
986
853
721
752
$735K
$725K
$730K
$728K
$725K
$721K
$717K
$717K
$720K
$720K
$711K
$706K
$690K
REBGV
FVREB
▶ 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
2,000
5
4+ bdrms
64
1,500
77
3 bdrms
1,000
673
28%
23% 20%
642
500
16%
2 bdrms
3,288
9%
8%
5%
5%
0
473
<$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
1,147 322 28%
1,839 417 23%
1,314 262 20%
655 105 16%
425 35 8%
399 36 9%
126 6 5%
290 14 5%
2,170
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 August 6, 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. 10 ●
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