vancouver west CONDO - FEBRUARY 2 0 2 4
SALES TO LISTINGS RATIO 28% SELLERS' MARKET
▶ MARKET SUMMARY
AVERAGE PRICE
AVERAGE PSF PRICE ▲ 9% VS 2023
MEDIAN PRICE
TOTAL LISTINGS
SALES
▲ 9% VS 2023
▲ 12% VS 2023
▲ 8% VS 2023
▲ 40% VS 2023
There were 487 condo listings in Vancouver West in February, 0.6% below January and 8% higher than February 2023. February condo sales increased by 54% month-over-month, to 134, and were 40% above February 2023. The sales-to-listing ratio for condos in Vancouver West, at 28%, re(ected a sellers' market. The condo median price in February was $897,250, a 1.9% decrease from January and 12% above February 2023. The average sold price was $1,026,672, 11% below last month; the average PSF sale price was $1,127, down 1.7% 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
134 487
$1,030 $940,827 $802,500 21% 96 451
12% 29% 40% 8%
$1,147 $1,157,779 $915,000 18% 87 490
-1.7% -11% -1.9% 55% 54% -0.6%
$1,127 $1,026,672 $897,250 28%
9% 9%
▶ AVG PRICE PER SQUARE FOOT
▶ RECENT TRENDS
● FEB 2023 ● FEB 2024
● SALES ● TOTAL INVENTORY ● MEDIAN PRICE
588
558
622
516
596
490
539
487
451
480
470
452
446
225
203
157
155
103
134
169
155
96
116
109
87
76
$925K
$920K
$910K
$915K
$900K
$897K
$895K
$875K
$866K
$870K
$850K
$845K
$803K
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
100
4+ bdrms
4
80
19
60
3 bdrms
73
46% 49%
40
33%
27%
59
26%
2 bdrms
20
249
8%
7%
0
56
<$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
1 0 n/a
28 13 46%
81 40 49%
100 26 26%
73 24 33%
82 22 27%
72 5 7%
50 4 8%
161
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. 53 ●
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