vancouver west CONDO - DECEMBER 2 0 2 3
SALES TO LISTINGS RATIO 16% BALANCED MARKET
▶ MARKET SUMMARY
AVERAGE PRICE
AVERAGE PSF PRICE ▲ 7% VS 2022
MEDIAN PRICE
TOTAL LISTINGS
SALES
▲ 1.0% VS 2022
▲ 15% VS 2022
▼ 0.1% VS 2022
▼ 7% VS 2022
There were 480 condo listings in Vancouver West in December, 18% below November and 15% higher than December 2022. December condo sales decreased by 26% month-over-month, to 76, and were 7% below December 2022. The sales-to-listing ratio for condos in Vancouver West, at 16%, reflected a balanced market. The condo median price in December was $844,500, a 3% decrease from November and 0.1% below December 2022. The average sold price was $987,466, 0.8% above last month; the average PSF sale price was $1,110, up 0.7% to last month.
THIS MONTH No.
PREVIOUS MONTH
PREVIOUS YEAR
No.
% Change
No. 103 588
% Change
TOTAL LISTINGS TOTAL SALES SALES-LISTINGS RATIO MEDIAN SOLD PRICE AVERAGE SOLD PRICE AVERAGE PRICE PSF
$1,110 $987,466 $844,500 16% 76 480
$1,034 $977,715 $845,000 20% 82 416
7% 1% -0.1% -20% -7% 15%
0.7% 0.8% -3% -10% -26% -18%
$1,102 $979,660 $875,000 18%
▶ AVG PRICE PER SQUARE FOOT
▶ RECENT TRENDS
● DEC 2022 ● DEC 2023
● SALES ● TOTAL INVENTORY ● MEDIAN PRICE
596
588
558
622
516
539
451
480
470
416
452
446
404
225
203
157
155
103
169
155
82
116
76
109
96
63
$925K
$920K
$910K
$900K
$895K
$875K
$866K
$870K
$845K
$850K
$845K
$833K
$803K
VANCOUVER WEST
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
100
4+ bdrms
4
80
5
60
3 bdrms
83
40
26% 28%
38
23%
2 bdrms
20
240
13%
9%
8%
4%
0
33
<$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
1 0 n/a
23 6 26%
78 22 28%
99 23 23%
78 10 13%
85 7 8%
68 6 9%
48 2 4%
153
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. 53 ●
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