vancouver region CONDO - MARCH 2 0 2 4
SALES TO LISTINGS RATIO 27% SELLERS' MARKET
▶ MARKET SUMMARY
AVERAGE PRICE
AVERAGE PSF PRICE ▲ 7% VS 2023
MEDIAN PRICE
TOTAL INVENTORY
SALES
▲ 6% VS 2023
▲ 6% VS 2023
▲ 27% VS 2023
▼ 10% VS 2023
There were 6,037 condo listings in the Vancouver Region in March, 11% above February and 27% higher than March 2023. March condo sales increased by 8% month-over-month, to 1,619, and were 10% below March 2023.
THIS MONTH No.
PREVIOUS MONTH
PREVIOUS YEAR
No.
% Change
No.
% Change
The sales-to-listing ratio for condos in the Vancouver Region, at 27%, reflected a sellers' market.
TOTAL INVENTORY TOTAL SALES SALES-LISTINGS RATIO MEDIAN SOLD PRICE AVERAGE SOLD PRICE AVERAGE PRICE PSF
1,619 6,037
1,808 4,740
-30% -10% 27%
1,499 5,456
1.1% 1% 4% -2% 8% 11%
The condo median price in March was $678,900, a 4% increase from February and 6% above March 2023. The average sold price was $759,868, 1.0% above last month; the average PSF sale price was $893, up 1.1% to last month.
$893 $759,868 $678,900 27%
$838 $715,818 $640,000 38%
$883 $752,406 $650,000 27%
7% 6% 6%
▶ AVG PRICE PER SQUARE FOOT
▶ RECENT TRENDS
● MAR 2023 ● MAR 2024
● SALES ● TOTAL INVENTORY ● MEDIAN PRICE
5,968
6,037
6,240
5,389
6,050
5,186
5,456
5,250
4,740
4,907
4,853
4,756
4,760
2,251
2,140
1,690
1,499
1,808
1,363
1,619
1,899
1,742
1,329
1,142
1,060
999
$679K
$675K
$670K
$665K
$662K
$652K
$650K
$652K
$650K
$650K
$645K
$640K
$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
2,000
4+ bdrms
49
1,500
101
3 bdrms
1,000
593
34%
31%
27%
21%
910
500
2 bdrms
14%
10%
3,279
8%
7%
0
608
<$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
1,631 560 34%
1,837 564 31%
1,043 284 27%
489 103 21%
351 49 14%
318 32 10%
126 10 8%
242 17 7%
2,116
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. 7 ●
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