vancouver west CONDO - MARCH 2 0 2 4
SALES TO LISTINGS RATIO 26% SELLERS' MARKET
▶ MARKET SUMMARY
AVERAGE PRICE
AVERAGE PSF PRICE ▲ 5% VS 2023
MEDIAN PRICE
TOTAL INVENTORY
SALES
▲ 3% VS 2023
▲ 4% VS 2023
▲ 21% VS 2023
▼ 12% VS 2023
There were 539 condo listings in Vancouver West in March, 10% above February and 21% higher than March 2023. March condo sales increased by 3% month-over-month, to 138, and were 12% below March 2023.
THIS MONTH No.
PREVIOUS MONTH
PREVIOUS YEAR
No. 157 446
% Change
No. 134 491
% Change
The sales-to-listing ratio for condos in Vancouver West, at 26%, reflected a sellers' market.
TOTAL INVENTORY TOTAL SALES SALES-LISTINGS RATIO MEDIAN SOLD PRICE AVERAGE SOLD PRICE AVERAGE PRICE PSF
138 539
-27% -12% 21%
1.4% -3% 0.3% -6% 3% 10%
The condo median price in March was $900,000, a 0.3% increase from February and 4% above March 2023. The average sold price was $995,790, 3% below last month; the average PSF sale price was $1,143, up 1.4% to last month.
$1,143 $995,790 $900,000 26%
$1,092 $971,386 $866,000 35%
$1,127 $1,026,672 $897,250 27%
5% 3% 4%
▶ AVG PRICE PER SQUARE FOOT
▶ RECENT TRENDS
● MAR 2023 ● MAR 2024
● SALES ● TOTAL INVENTORY ● MEDIAN PRICE
596
588
558
622
516
539
490
539
491
446
480
470
452
225
203
155
134
157
103
138
169
155
116
109
87
76
$925K
$920K
$910K
$915K
$900K
$897K
$900K
$895K
$875K
$866K
$870K
$850K
$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
120
4+ bdrms
4
100
80
59%
11
3 bdrms
78
60
35%
29% 31%
40
68
21%
2 bdrms
11%
266
20
7%
3%
0
59
<$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
29 17 59%
96 34 35%
121 35 29%
74 23 31%
81 17 21%
79 9 11%
29 1 3%
30 2 7%
191
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. 55 ●
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