vancouver downtown CONDO - DECEMBER 2 0 2 3
SALES TO LISTINGS RATIO 13% BALANCED MARKET
▶ MARKET SUMMARY
AVERAGE PRICE
AVERAGE PSF PRICE ▼ 1.0% VS 2022
MEDIAN PRICE
TOTAL LISTINGS
SALES
▲ 9% VS 2022
▲ 4% VS 2022
▲ 14% VS 2022
▼ 5% VS 2022
There were 783 condo listings in Vancouver Downtown in December, 20% below November and 14% higher than December 2022. December condo sales decreased by 17% month-over-month, to 101, and were 5% below December 2022. The sales-to-listing ratio for condos in Vancouver Downtown, at 13%, reflected a balanced market. The condo median price in December was $815,000, a 8% increase from November and 4% above December 2022. The average sold price was $1,080,203, 7% above last month; the average PSF sale price was $1,125, down 1.3% to last month.
THIS MONTH No.
PREVIOUS MONTH
PREVIOUS YEAR
No. 106 688
% Change
No. 122 983
% Change
TOTAL LISTINGS TOTAL SALES SALES-LISTINGS RATIO MEDIAN SOLD PRICE AVERAGE SOLD PRICE AVERAGE PRICE PSF
101 783
-1% 9% 4% -16% -5% 14%
-1.3% 7% 8% 4% -17% -20%
$1,125 $1,080,203 $815,000 13%
$1,137 $994,524 $780,000 15%
$1,140 $1,009,042 $757,400 12%
▶ AVG PRICE PER SQUARE FOOT
▶ RECENT TRENDS
● DEC 2022 ● DEC 2023
● SALES ● TOTAL INVENTORY ● MEDIAN PRICE
1,067
983
909
1,033
836
782
889
869
705
783
775
688
713
222
165
155
123
122
85
185
187
106
101
159
121
110
$840K
$820K
$815K
$808K
$800K
$795K
$790K
$780K
$775K
$775K
$775K
$769K
$757K
VANCOUVER DOWN..
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
150
4+ bdrms
17
9
100
3 bdrms
76
36%
50
40
25%
2 bdrms
16% 14% 14%
368
11%
8%
5%
0
52
<$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
14 5 36%
69 17 25%
168 27 16%
138 20 14%
66 9 14%
74 8 11%
89 7 8%
165 8 5%
322
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. 50 ●
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