vancouver region CONDO - JULY 2 0 2 4
SALES TO LISTINGS RATIO 19% BALANCED MARKET
▶ MARKET SUMMARY
AVERAGE PRICE
AVERAGE PSF PRICE ▼ 0.6% VS 2023
MEDIAN PRICE
TOTAL INVENTORY
SALES
▲ 0.6% VS 2023
▲ 53% VS 2023
▼ 1.0% VS 2023
▼ 10% VS 2023
There were 8,248 condo listings in the Vancouver Region in July, 3% above June and 53% higher than July 2023.
July condo sales decreased by 5% month-over-month, to 1,568, and were 10% below July 2023.
THIS MONTH No.
PREVIOUS MONTH
PREVIOUS YEAR
No.
% Change
No.
% Change
The sales-to-listing ratio for condos in the Vancouver Region, at 19%, reflected a balanced market.
TOTAL INVENTORY TOTAL SALES SALES-LISTINGS RATIO MEDIAN SOLD PRICE AVERAGE SOLD PRICE AVERAGE PRICE PSF
1,568 8,248
1,742 5,387
-0.6% 0.6% -1% -41% -10% 53%
1,645 7,999
-3% -8% -5% 3%
The condo median price in July was $655,000, a 3% decrease from June and 1.0% below July 2023. The average sold price was $752,001, 1.2% below last month; the average PSF sale price was $874, down 1.1% to last month.
$874 $752,001 $655,000 19%
$880 $747,492 $661,750 32%
$884 $761,310 $673,000 21%
-1.1% -1.2%
▶ AVG PRICE PER SQUARE FOOT
▶ RECENT TRENDS
● JUL 2023 ● JUL 2024
● SALES ● TOTAL INVENTORY ● MEDIAN PRICE
7,730
8,248
7,103
7,999
6,238 6,048
5,966
6,037
5,387
5,456
5,248
4,851
4,758
1,879
1,690
1,517
1,363
1,742
1,568
1,785
1,618
1,645
1,329
1,142
1,060
999
$678K
$670K
$670K
$671K
$673K
$662K
$650K
$652K
$650K
$650K
$655K
$645K
$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
2,500
67 5
4+ bdrms
2,000
98
1,500
3 bdrms
781
1,000
25%
866
20% 19%
16%
2 bdrms
500
9%
4,488
8%
5%
5%
0
599
<$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
2,396 595 25%
2,464 499 20%
1,424 273 19%
687 107 16%
444 35 8%
407 38 9%
128 6 5%
298 15 5%
2,912
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. 7 ●
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