the vancouver rennie review | May 2024

west vancouver CONDO - APRIL 2 0 2 4

SALES TO LISTINGS RATIO 22% SELLERS' MARKET

▶ MARKET SUMMARY

AVERAGE PRICE

AVERAGE PSF PRICE ▲ 32% VS 2023

MEDIAN PRICE

TOTAL INVENTORY

SALES

▲ 45% VS 2023

▲ 7% VS 2023

▲ 26% VS 2023

▼ 3% VS 2023

There were 107 condo listings in West Vancouver in April, 7% above March and 7% higher than April 2023.

April condo sales increased by 71% month-over-month, to 24, and were 26% above April 2023.

THIS MONTH No. $1,396 $2,107,829 $1,401,000 22% 24 107

PREVIOUS MONTH

PREVIOUS YEAR

No.

% Change

No.

% Change

The sales-to-listing ratio for condos in West Vancouver, at 22%, reflected a sellers' market.

TOTAL INVENTORY TOTAL SALES SALES-LISTINGS RATIO MEDIAN SOLD PRICE AVERAGE SOLD PRICE AVERAGE PRICE PSF

$1,059 $1,458,311 $1,450,000 19% 19 100

32% 45% -3% 18% 26% 7%

$1,226 $1,653,179 $1,616,750 14% 14 100

14% 28% -13% 60% 71% 7%

The condo median price in April was $1,401,000, a 13% decrease from March and 3% below April 2023. The average sold price was $2,107,829, 28% above last month; the average PSF sale price was $1,396, up 14% to last month.

▶ AVG PRICE PER SQUARE FOOT

▶ RECENT TRENDS

● APR 2023 ● APR 2024

● SALES ● TOTAL INVENTORY ● MEDIAN PRICE

107

100

100

97

96

95

100

91

95

93

92

74

72

29

24

23

24

15

19

12

22

6

18

17

14

12

$1.62M

$1.54M

$1.47M

$1.45M

$1.39M

$1.40M

$1.38M

$1.27M $1.33M

$1.26M

$1.20M

$1.05M

$987K

WEST VANCOUVER

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

25

4+ bdrms

20

4

15

3 bdrms

17

43%

40%

33%

10

27% 26%

13

19%

15%

2 bdrms

5

69

0

7

<$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

5 2 40%

6 2 33%

13 2 15%

7 3 43%

15 4 27%

23 6 26%

12 0 n/a

26 5 19%

21

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. 57 ●

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