the vancouver rennie review | August 2024

vancouver east CONDO - JULY 2 0 2 4

SALES TO LISTINGS RATIO 22% SELLERS' MARKET

▶ MARKET SUMMARY

AVERAGE PRICE

AVERAGE PSF PRICE ▼ 3% VS 2023

MEDIAN PRICE

TOTAL INVENTORY

SALES

▲ 4% VS 2023

▲ 41% VS 2023

▼ 0.1% VS 2023

▼ 9% VS 2023

There were 533 condo listings in Vancouver East in July, 3% below June and 41% higher than July 2023.

July condo sales decreased by 10% month-over-month, to 115, and were 9% below July 2023.

THIS MONTH No.

PREVIOUS MONTH

PREVIOUS YEAR

No. 126 377

% Change

No. 128 550

% Change

The sales-to-listing ratio for condos in Vancouver East, at 22%, reflected a sellers' market.

TOTAL INVENTORY TOTAL SALES SALES-LISTINGS RATIO MEDIAN SOLD PRICE AVERAGE SOLD PRICE AVERAGE PRICE PSF

115 533

-3% 4% -0.1% -35% -9% 41%

-1.6% 3% 4% -7% -10% -3%

The condo median price in July was $712,000, a 4% increase from June and 0.1% below July 2023. The average sold price was $765,420, 3% above last month; the average PSF sale price was $973, down 1.6% to last month.

$973 $765,420 $712,000 22%

$1,007 $735,174 $713,000 33%

$989 $741,482 $682,500 23%

▶ AVG PRICE PER SQUARE FOOT

▶ RECENT TRENDS

● JUL 2023 ● JUL 2024

● SALES ● TOTAL INVENTORY ● MEDIAN PRICE

515

533

550

542

427

419

410

402

462

377

357

331

312

144

138

127

128

118

101

126

115

128

97

76

70

61

$740K

$733K

$713K

$712K

$700K

$700K

$688K

$685K

$683K

$678K

$678K

$658K

$618K

VANCOUVER EAST

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

4+ bdrms

150

7

9

100

3 bdrms

43

38%

25% 23% 23%

48

50

2 bdrms

15%

10%

229

0

58

<$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

128 32 25%

177 41 23%

122 28 23%

59 9 15%

8 3 38%

20 2 10%

10 0 n/a

9 0 n/a

254

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. 50 ●

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