greater vancouver board area CONDO - FEBRUARY 2 0 2 4
SALES TO LISTINGS RATIO 26% SELLERS' MARKET
▶ MARKET SUMMARY
AVERAGE PRICE
AVERAGE PSF PRICE ▲ 5% VS 2023
MEDIAN PRICE
TOTAL LISTINGS
SALES
▲ 6% VS 2023
▲ 6% VS 2023
▲ 18% VS 2023
▲ 16% VS 2023
There were 4,134 condo listings in the Greater Vancouver board area in February, 13% above January and 18% higher than February 2023. February condo sales increased by 44% month-over-month, to 1,084, and were 16% above February 2023. The sales-to-listing ratio for condos in the Greater Vancouver board area, at 26%, re(ected a sellers' market. The condo median price in February was $720,000, a 2% increase from January and 6% above February 2023. The average sold price was $827,214, 1.5% above last month; the average PSF sale price was $958, up 1.1% to last month.
THIS MONTH No.
PREVIOUS MONTH
PREVIOUS YEAR
No.
% Change
No.
% Change
TOTAL LISTINGS TOTAL SALES SALES-LISTINGS RATIO MEDIAN SOLD PRICE AVERAGE SOLD PRICE AVERAGE PRICE PSF
1,084 4,134
$913 $778,940 $680,000 26% 932 3,517
16% 18%
$948 $814,907 $705,000 21% 753 3,670
1.1% 1.5% 2% 28% 44% 13%
$958 $827,214 $720,000 26%
5% 6% 6% -1.1%
▶ AVG PRICE PER SQUARE FOOT
▶ RECENT TRENDS
● FEB 2023 ● FEB 2024
● SALES ● TOTAL INVENTORY ● MEDIAN PRICE
4,556
4,771
4,102
4,592
4,134
3,681
3,913
3,909
3,517
3,718
3,694
3,670
3,592
1,734
1,573
1,317
1,276
1,044
1,412
1,084
1,284
932
986
853
753
721
$729K
$726K
$725K
$720K
$721K
$717K
$717K
$720K
$711K
$705K
$705K
$690K
$680K
REBGV
FVREB
▶ 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
1200
3
4+ bdrms
1000
47
800
91
3 bdrms
600
469
41%
36%
400
552
24% 22%
2 bdrms
17%
2,194
14%
200
10%
7%
0
438
<$400K $400-599K $600-799K $800-999K $1.0M-1.24M $1.25M-1.49M $1.5M-1.99M $2M+
<2 bdrms
S-L RATIO SALES INVENTORY
92 16 17%
638 259 41%
1,173 417 36%
868 206 24%
431 94 22%
310 42 14%
289 28 10%
333 22 7%
1,424
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 March 7, 2024. All data from Real Estate Board of Greater Vancouver and Fraser Valley & 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. 10 ●
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