greater vancouver board area CONDO - NOVEMBER 2 0 2 4
SALES TO LISTINGS RATIO 19% BALANCED MARKET
▶ MARKET SUMMARY
AVERAGE PRICE
AVERAGE PSF PRICE ▼ 3% VS 2023
MEDIAN PRICE
TOTAL INVENTORY
SALES
▲ 27% VS 2023
▲ 29% VS 2023
▼ 1.6% VS 2023
▼ 2% VS 2023
There were 5,840 condo listings in the Greater Vancouver board area in November, 7% below October and 27% higher than November 2023. November condo sales decreased by 22% month-over-month, to 1,099, and were 29% above November 2023. The sales-to-listing ratio for condos in the Greater Vancouver board area, at 19%, reflected a balanced market. The condo median price in November was $699,900, a 0.0% decrease from October and 2% below November 2023. The average sold price was $782,263, 4% below last month; the average PSF sale price was $918, down 2% to last month.
THIS MONTH No.
PREVIOUS MONTH
PREVIOUS YEAR
No.
% Change
No.
% Change
TOTAL INVENTORY TOTAL SALES SALES-LISTINGS RATIO MEDIAN SOLD PRICE AVERAGE SOLD PRICE AVERAGE PRICE PSF
1,099 5,840
$943 $794,842 $717,000 19% 853 4,595
29% 27%
1,401 6,297
-15% -22% -7%
$918 $782,263 $699,900 19%
-3% -1.6% -2% 1.4%
$937 $811,204 $700,000 22%
-2% -4% 0%
▶ AVG PRICE PER SQUARE FOOT
▶ RECENT TRENDS
● NOV 2023 ● NOV 2024
● SALES ● TOTAL INVENTORY ● MEDIAN PRICE
6,202
6,476
6,082
5,879
6,297
5,840
5,380
5,918
4,595
4,614
4,155
3,595 3,674
1,425
1,401
1,196
1,095
1,099
1,336
853
1,249
1,210
1,014
943
752
721
$735K
$730K
$726K
$725K
$717K
$720K
$720K
$720K
$706K
$700K
$700K
$690K
$690K
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
1
4+ bdrms
1,500
55
65
1,000
3 bdrms
612
28% 26%
597
500
2 bdrms
15% 15%
3,178
7%
6%
4%
3%
0
436
<$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
1,049 297 28%
1,754 453 26%
1,349 203 15%
581 86 15%
389 26 7%
343 19 6%
130 4 3%
245 11 4%
1,995
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 December 9, 2024. All data from Greater Vancouver REALTORS®, Fraser Valley Real Estate Board, Whistler Listing 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. 10 ●
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