vancouver downtown CONDO - JULY 2 0 2 4
SALES TO LISTINGS RATIO 13% BALANCED MARKET
▶ MARKET SUMMARY
AVERAGE PRICE
AVERAGE PSF PRICE ▼ 0.9% VS 2023
MEDIAN PRICE
TOTAL INVENTORY
SALES
▲ 8% VS 2023
▲ 1.9% VS 2023
▲ 30% VS 2023
▼ 5% VS 2023
There were 1,180 condo listings in Vancouver Downtown in July, 0.4% below June and 30% higher than July 2023.
July condo sales decreased by 13% month-over-month, to 151, and were 5% below July 2023.
THIS MONTH No. $1,145 $1,041,317 $790,000 13% 151 1,180
PREVIOUS MONTH
PREVIOUS YEAR
No. 159 909
% Change
No.
% Change
The sales-to-listing ratio for condos in Vancouver Downtown, at 13%, reflected a balanced market.
TOTAL INVENTORY TOTAL SALES SALES-LISTINGS RATIO MEDIAN SOLD PRICE AVERAGE SOLD PRICE AVERAGE PRICE PSF
-0.9% 8% 1.9% -27% -5% 30%
$1,124 $1,024,314 $805,000 15% 173 1,185
1.8% 1.7% -1.9% -12% -13% -0.4%
The condo median price in July was $790,000, a 1.9% decrease from June and 1.9% above July 2023. The average sold price was $1,041,317, 1.7% above last month; the average PSF sale price was $1,145, up 1.8% to last month.
$1,155 $968,484 $775,000 17%
▶ AVG PRICE PER SQUARE FOOT
▶ RECENT TRENDS
● JUL 2023 ● JUL 2024
● SALES ● TOTAL INVENTORY ● MEDIAN PRICE
1,180
1,102
1,067
1,185
1,033
1,167
983
885
909
958
889
783
768
174
173
165
165
123
122
101
101
159
151
170
131
121
$825K
$815K
$808K
$805K
$795K
$798K
$794K
$790K
$788K
$775K
$775K
$760K
$757K
VANCOUVER DOWNTOWN
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
300
1
250
4+ bdrms
24
200
8
3 bdrms
150
126
31%
100
55
2 bdrms
15% 14% 13%
50
552
9%
9%
6%
4%
0
87
<$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
115 36 31%
279 41 15%
192 26 14%
124 16 13%
111 10 9%
134 12 9%
52 3 6%
173 7 4%
478
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. 51 ●
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