vancouver west CONDO - JULY 2 0 2 4
SALES TO LISTINGS RATIO 19% BALANCED MARKET
▶ MARKET SUMMARY
AVERAGE PRICE
AVERAGE PSF PRICE ▼ 5% VS 2023
MEDIAN PRICE
TOTAL INVENTORY
SALES
▲ 42% VS 2023
▼ 4% VS 2023
▼ 2.0% VS 2023
▼ 9% VS 2023
There were 795 condo listings in Vancouver West in July, 0.9% above June and 42% higher than July 2023.
July condo sales decreased by 3% month-over-month, to 154, and were 9% below July 2023.
THIS MONTH No.
PREVIOUS MONTH
PREVIOUS YEAR
No. 169 558
% Change
No. 159 788
% Change
The sales-to-listing ratio for condos in Vancouver West, at 19%, reflected a balanced market.
TOTAL INVENTORY TOTAL SALES SALES-LISTINGS RATIO MEDIAN SOLD PRICE AVERAGE SOLD PRICE AVERAGE PRICE PSF
154 795
-5% -4% -2% -36% -9% 42%
-4% -6% -7% -4% -3% 0.9%
The condo median price in July was $906,950, a 7% decrease from June and 2.0% below July 2023. The average sold price was $1,006,613, 6% below last month; the average PSF sale price was $1,108, down 4% to last month.
$1,108 $1,006,613 $906,950 19%
$1,164 $1,049,875 $925,000 30%
$1,150 $1,066,488 $980,000 20%
▶ AVG PRICE PER SQUARE FOOT
▶ RECENT TRENDS
● JUL 2023 ● JUL 2024
● SALES ● TOTAL INVENTORY ● MEDIAN PRICE
753
795
788
677
622
596
588
558
490
539
538
491
480
177
155
134
169
103
154
159
149
138
116
109
76
87
$980K
$925K
$920K
$915K
$910K
$907K
$895K
$897K
$900K
$870K
$875K
$875K
$845K
VANCOUVER WEST
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
3 2
4+ bdrms
150
9
100
3 bdrms
108
24% 26% 24%
50
87
21%
2 bdrms
14%
10%
413
7%
3%
0
56
<$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
58 12 21%
144 35 24%
174 45 26%
140 33 24%
116 12 10%
102 14 14%
30 2 7%
31 1 3%
271
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. 55 ●
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