vancouver region CONDO - NOVEMBER 2 0 2 4
SALES TO LISTINGS RATIO 18% BALANCED MARKET
▶ MARKET SUMMARY
AVERAGE PRICE
AVERAGE PSF PRICE ▼ 2% VS 2023
MEDIAN PRICE
TOTAL INVENTORY
SALES
▲ 0.2% VS 2023
▲ 32% VS 2023
▲ 27% VS 2023
▼ 1.3% VS 2023
There were 7,963 condo listings in the Vancouver Region in November, 7% below October and 32% higher than November 2023. November condo sales decreased by 19% month-over-month, to 1,456, and were 27% above November 2023. The sales-to-listing ratio for condos in the Vancouver Region, at 18%, reflected a balanced market. The condo median price in November was $651,000, a 0.6% decrease from October and 0.2% above November 2023. The average sold price was $726,030, 4% below last month; the average PSF sale price was $856, down 3% 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
1,456 7,963
1,142 6,050
27% 32%
1,795 8,526
-3% -4% -0.6% -13% -19% -7%
$856 $726,030 $651,000 18%
$876 $735,915 $650,000 19%
-2% -1.3% 0.2% -3%
$878 $754,362 $655,000 21%
▶ AVG PRICE PER SQUARE FOOT
▶ RECENT TRENDS
● NOV 2023 ● NOV 2024
● SALES ● TOTAL INVENTORY ● MEDIAN PRICE
8,251
8,732
7,736
8,526
7,963
7,106
8,004
8,000
6,050
6,039
5,458
4,760 4,853
1,878
1,783
1,795
1,567
1,517
1,456
1,142
1,618
1,645
1,337
1,237
1,060
999
$678K
$671K
$671K
$673K
$658K
$650K
$650K
$655K
$655K
$651K
$645K
$644K
$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
2,500
58 2
4+ bdrms
2,000
1,500
80
3 bdrms
741
1,000
23% 23%
813
2 bdrms
15% 15%
500
4,401
7%
6%
5%
3%
0
561
<$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
2,357 545 23%
2,393 545 23%
1,459 213 15%
616 90 15%
401 27 7%
354 20 6%
136 4 3%
247 12 5%
2,763
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. 7 ●
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