vancouver downtown CONDO - FEBRUARY 2 0 2 4
SALES TO LISTINGS RATIO 15% BALANCED MARKET
▶ MARKET SUMMARY
AVERAGE PRICE
AVERAGE PSF PRICE ▲ 0.7% VS 2023
MEDIAN PRICE
TOTAL LISTINGS
SALES
▲ 4% VS 2023
▲ 24% VS 2023
▲ 19% VS 2023
▼ 9% VS 2023
There were 881 condo listings in Vancouver Downtown in February, 15% above January and 24% higher than February 2023. February condo sales increased by 30% month-over-month, to 131, and were 19% above February 2023. The sales-to-listing ratio for condos in Vancouver Downtown, at 15%, re'ected a balanced market. The condo median price in February was $798,000, a 5% increase from January and 4% above February 2023. The average sold price was $1,008,904, 6% above last month; the average PSF sale price was $1,152, up 1.5% to last month.
THIS MONTH No.
PREVIOUS MONTH
PREVIOUS YEAR
No. 110 713
% Change
No. 101 768
% Change
TOTAL LISTINGS TOTAL SALES SALES-LISTINGS RATIO MEDIAN SOLD PRICE AVERAGE SOLD PRICE AVERAGE PRICE PSF
131 881
0.7% -9% 4% -4% 19% 24%
1.5% 6% 5% 13% 30% 15%
$1,152 $1,008,904 $798,000 15%
$1,144 $1,107,100 $768,750 15%
$1,134 $952,620 $760,000 13%
▶ AVG PRICE PER SQUARE FOOT
▶ RECENT TRENDS
● FEB 2023 ● FEB 2024
● SALES ● TOTAL INVENTORY ● MEDIAN PRICE
1,067
983
909
1,033
836
881
782
889
869
783
713
775
768
222
165
155
123
122
131
185
187
110
159
121
101
101
$840K
$820K
$815K
$808K
$800K
$795K
$798K
$775K
$775K
$775K
$769K
$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
1
4+ bdrms
21
150
9
3 bdrms
100
87
31% 34%
54
24%
50
21%
2 bdrms
14%
434
8%
8%
4%
0
67
<$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
16 5 31%
64 22 34%
187 40 21%
149 21 14%
83 20 24%
80 6 8%
108 9 8%
194 8 4%
339
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. 50 ●
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