vancouver downtown CONDO - MARCH 2 0 2 4
SALES TO LISTINGS RATIO 17% BALANCED MARKET
▶ MARKET SUMMARY
AVERAGE PRICE
AVERAGE PSF PRICE ▲ 0.1% VS 2023
MEDIAN PRICE
TOTAL INVENTORY
SALES
▲ 4% VS 2023
▲ 23% VS 2023
▲ 6% VS 2023
▼ 4% VS 2023
There were 958 condo listings in Vancouver Downtown in March, 8% above February and 23% higher than March 2023. March condo sales increased by 26% month-over-month, to 165, and were 6% above March 2023.
THIS MONTH No.
PREVIOUS MONTH
PREVIOUS YEAR
No. 155 782
% Change
No. 131 885
% Change
The sales-to-listing ratio for condos in Vancouver Downtown, at 17%, reflected a balanced market.
TOTAL INVENTORY TOTAL SALES SALES-LISTINGS RATIO MEDIAN SOLD PRICE AVERAGE SOLD PRICE AVERAGE PRICE PSF
165 958
0.1% 4% -4% -13% 6% 23%
16% 26% 8%
The condo median price in March was $788,000, a 1.3% decrease from February and 4% below March 2023. The average sold price was $975,573, 3% below last month; the average PSF sale price was $1,114, down 3% to last month.
$1,114 $975,573 $788,000 17%
$1,112 $940,027 $820,000 20%
$1,152 $1,008,904 $798,000 15%
-3% -3% -1.3%
▶ AVG PRICE PER SQUARE FOOT
▶ RECENT TRENDS
● MAR 2023 ● MAR 2024
● SALES ● TOTAL INVENTORY ● MEDIAN PRICE
1,067
983
909
1,033
958
885
836
889
869
782
783
775
768
222
165
123
122
165
155
185
187
159
131
121
101
101
$840K
$820K
$815K
$808K
$800K
$795K
$798K
$788K
$775K
$775K
$775K
$757K
$760K
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
200
4+ bdrms
19
150
8
3 bdrms
91
100
39%
27%
21%
69
16%
50
2 bdrms
11%
10%
477
5%
5%
0
88
<$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
77 30 39%
213 57 27%
155 33 21%
98 16 16%
90 9 10%
122 6 5%
54 6 11%
149 8 5%
371
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 April 10, 2024. All data from Greater Vancouver REALTORS®, Fraser Valley Real Estate Board, Whistler Listings 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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