vancouver region CONDO - DECEMBER 2 0 2 3
SALES TO LISTINGS RATIO 21% SELLERS' MARKET
▶ MARKET SUMMARY
AVERAGE PRICE
AVERAGE PSF PRICE ▲ 5% VS 2022
MEDIAN PRICE
TOTAL LISTINGS
SALES
▲ 4% VS 2022
▲ 0.8% VS 2022
▲ 15% VS 2022
▲ 8% VS 2022
There were 4,757 condo listings in the Vancouver Region in December, 21% below November and 15% higher than December 2022. December condo sales decreased by 13% month-over-month, to 999, and were 8% above December 2022. The sales-to-listing ratio for condos in the Vancouver Region, at 21%, reflected a sellers' market. The condo median price in December was $630,000, a 3% decrease from November and 0.8% above December 2022. The average sold price was $728,701, 1.0% below last month; the average PSF sale price was $858, down 2% 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
$858 $728,701 $630,000 21% 999 4,757
$813 $700,945 $625,000 22% 922 4,123
5% 4% 0.8% -6% 8% 15%
1,143 6,047
-2% -1% -3% 11% -13% -21%
$875 $736,085 $650,000 19%
▶ AVG PRICE PER SQUARE FOOT
▶ RECENT TRENDS
● DEC 2022 ● DEC 2023
● SALES ● TOTAL INVENTORY ● MEDIAN PRICE
5,966
6,237
5,387
6,047
5,184
4,738
4,587
5,248
4,905
4,754
4,757
4,123
4,350
2,251
2,140
1,808
1,690
1,363
1,899
1,743
999
1,329
922
1,217
1,143
770
$675K
$665K
$670K
$661K
$652K
$650K
$652K
$650K
$640K
$630K
$630K
$630K
$625K
Vancouver Region
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
1400
1
4+ bdrms
1200
43
1000
62
800
3 bdrms
519
600
34%
31%
559
400
23%
2 bdrms
17%
2,546
13% 12%
200
8%
4%
0
377
<$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
170 52 31%
1,079 368 34%
1,405 319 23%
831 139 17%
437 57 13%
282 33 12%
248 19 8%
305 12 4%
1,649
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. 7 ●
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