vancouver region CONDO - FEBRUARY 2 0 2 4
SALES TO LISTINGS RATIO 28% SELLERS' MARKET
▶ MARKET SUMMARY
AVERAGE PRICE
AVERAGE PSF PRICE ▲ 5% VS 2023
MEDIAN PRICE
TOTAL LISTINGS
SALES
▲ 5% VS 2023
▲ 3% VS 2023
▲ 18% VS 2023
▲ 23% VS 2023
There were 5,432 condo listings in the Vancouver Region in February, 12% above January and 18% higher than February 2023. February condo sales increased by 41% month-over-month, to 1,500, and were 23% above February 2023. The sales-to-listing ratio for condos in the Vancouver Region, at 28%, re&ected a sellers' market. The condo median price in February was $650,000, a 0.8% increase from January and 3% above February 2023. The average sold price was $752,178, 2% above last month; the average PSF sale price was $882, up 1.3% 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
1,500 5,432
1,217 4,587
23% 18%
1,061 4,849
1.3% 2% 0.8% 26% 41% 12%
$882 $752,178 $650,000 28%
$842 $719,242 $630,000 27%
5% 5% 3% 4%
$871 $736,508 $645,000 22%
▶ AVG PRICE PER SQUARE FOOT
▶ RECENT TRENDS
● FEB 2023 ● FEB 2024
● SALES ● TOTAL INVENTORY ● MEDIAN PRICE
5,966
6,237
5,387
6,047
5,184
5,432
4,738
5,248
4,587
4,905
4,849
4,754
4,757
2,251
2,140
1,808
1,690
1,363
1,899
1,500
1,743
1,217
1,329
1,142
1,061
999
$675K
$665K
$670K
$661K
$652K
$650K
$652K
$650K
$650K
$640K
$645K
$630K
$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
4
1500
4+ bdrms
49
1000
104
3 bdrms
556
39%
33%
33%
500
807
23% 22%
2 bdrms
2,939
14%
9%
7%
0
585
<$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
196 65 33%
1,273 500 39%
1,601 525 33%
941 215 23%
453 99 22%
327 45 14%
295 28 9%
346 23 7%
1,888
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. 7 ●
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