greater vancouver board area CONDO - APRIL 2 0 2 4
SALES TO LISTINGS RATIO 27% SELLERS' MARKET
▶ MARKET SUMMARY
AVERAGE PRICE
AVERAGE PSF PRICE ▲ 1.0% VS 2023
MEDIAN PRICE
TOTAL INVENTORY
SALES
▲ 1.1% VS 2023
▲ 1.4% VS 2023
▲ 45% VS 2023
▲ 1.2% VS 2023
There were 5,377 condo listings in the Greater Vancouver board area in April, 16% above March and 45% higher than April 2023. April condo sales increased by 18% month-over-month, to 1,429, and were 1.2% above April 2023.
THIS MONTH No.
PREVIOUS MONTH
PREVIOUS YEAR
No.
% Change
No.
% Change
The sales-to-listing ratio for condos in the Greater Vancouver board area, at 27%, reflected a sellers' market.
TOTAL INVENTORY TOTAL SALES SALES-LISTINGS RATIO MEDIAN SOLD PRICE AVERAGE SOLD PRICE AVERAGE PRICE PSF
1,429 5,377
1,412 3,696
1% 1.1% 1.4% -30% 1.2% 45%
1,210 4,616
18% 16%
The condo median price in April was $729,900, a 0.7% decrease from March and 1.4% above April 2023. The average sold price was $813,837, 0.6% below last month; the average PSF sale price was $947, down 1.7% to last month.
$947 $813,837 $729,900 27%
$938 $804,776 $720,000 38%
$963 $818,500 $735,000 26%
-1.7% -0.6% -0.7% 1.4%
▶ AVG PRICE PER SQUARE FOOT
▶ RECENT TRENDS
● APR 2023 ● APR 2024
● SALES ● TOTAL INVENTORY ● MEDIAN PRICE
5,377
4,774
4,595
4,558
4,104
4,616
4,154
3,696
3,915
3,911
3,720
3,674
3,595
1,734
1,573
1,276
1,085
1,429
1,412
1,044
1,284
1,210
986
853
752
721
$735K
$729K
$726K
$725K
$730K
$720K
$721K
$717K
$717K
$720K
$711K
$706K
$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
1,500
4+ bdrms
54
100
1,000
3 bdrms
559
38% 37%
34% 33%
33%
28% 25%
500
772
2 bdrms
14%
2,825
0
557
<$400K $400K-499K $500K-599K $600K-699K $700K-799K $800K-899K $900K-999K $1.0M+
<2 bdrms
S-L RATIO SALES INVENTORY
111 37 33%
260 99 38%
611 228 37%
827 279 34%
768 252 33%
617 175 28%
507 129 25%
1,676 230 14%
1,939
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 May 8, 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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