greater vancouver board area CONDO - DECEMBER 2 0 2 3
SALES TO LISTINGS RATIO 20% BALANCED MARKET
▶ MARKET SUMMARY
AVERAGE PRICE
AVERAGE PSF PRICE ▲ 5% VS 2022
MEDIAN PRICE
TOTAL LISTINGS
SALES
▲ 5% VS 2022
▲ 0.7% VS 2022
▲ 14% VS 2022
▲ 2% VS 2022
There were 3,592 condo listings in the Greater Vancouver board area in December, 22% below November and 14% higher than December 2022. December condo sales decreased by 16% month-over-month, to 721, and were 2% above December 2022. The sales-to-listing ratio for condos in the Greater Vancouver board area, at 20%, reflected a balanced market. The condo median price in December was $690,000, a 4% decrease from November and 0.7% above December 2022. The average sold price was $800,294, 0.7% above last month; the average PSF sale price was $930, down 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
$930 $800,294 $690,000 20% 721 3,592
$882 $764,022 $685,000 22% 705 3,150
0.7% -10% 2% 14%
$942 $795,001 $717,250 19% 854 4,592
-1.3% 0.7% -4% 8% -16% -22%
5% 5%
▶ AVG PRICE PER SQUARE FOOT
▶ RECENT TRENDS
● DEC 2022 ● DEC 2023
● SALES ● TOTAL INVENTORY ● MEDIAN PRICE
4,556
4,771
4,102
4,592
3,681
3,913
3,909
3,718
3,694
3,592
3,517
3,150
3,335
1,734
1,573
1,317
1,276
1,044
932
1,412
1,284
721
705
986
854
572
$729K
$726K
$725K
$720K
$721K
$717K
$717K
$711K
$705K
$690K
$690K
$685K
$680K
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
1000
4+ bdrms
40
800
46
600
3 bdrms
445
400
38%
29%
386
25%
2 bdrms
17%
200
1,856
13% 12%
8%
4%
0
289
<$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
72 21 29%
521 197 38%
1,007 254 25%
772 131 17%
416 56 13%
267 31 12%
241 19 8%
296 12 4%
1,251
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 January 10, 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. 10 ●
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