vancouver downtown CONDO - MAY 2 0 2 4
SALES TO LISTINGS RATIO 15% BALANCED MARKET
▶ MARKET SUMMARY
AVERAGE PRICE
AVERAGE PSF PRICE ▼ 5% VS 2023
MEDIAN PRICE
TOTAL INVENTORY
SALES
▲ 40% VS 2023
▼ 1.0% VS 2023
▼ 1.8% VS 2023
▼ 22% VS 2023
There were 1,167 condo listings in Vancouver Downtown in May, 6% above April and 40% higher than May 2023.
May condo sales increased by 2% month-over-month, to 174, and were 22% below May 2023.
THIS MONTH No. $1,159 $1,104,988 $825,000 15% 174 1,167
PREVIOUS MONTH
PREVIOUS YEAR
No. 222 836
% Change
No.
% Change
The sales-to-listing ratio for condos in Vancouver Downtown, at 15%, re(ected a balanced market.
TOTAL INVENTORY TOTAL SALES SALES-LISTINGS RATIO MEDIAN SOLD PRICE AVERAGE SOLD PRICE AVERAGE PRICE PSF
-5% -1% -1.8% -44% -22% 40%
$1,137 $1,000,566 $793,500 15% 170 1,102
2% 6%
The condo median price in May was $825,000, a 4% increase from April and 1.8% below May 2023. The average sold price was $1,104,988, 10% above last month; the average PSF sale price was $1,159, up 2.0% to last month.
$1,215 $1,115,975 $840,000 27%
2% 10% 4% -3%
▶ AVG PRICE PER SQUARE FOOT
▶ RECENT TRENDS
● MAY 2023 ● MAY 2024
● SALES ● TOTAL INVENTORY ● MEDIAN PRICE
1,102
1,167
1,067
1,033
983
909
885
958
836
889
869
783
768
165
165
222
123
122
101
101
174
187
170
159
131
121
$840K
$825K
$815K
$808K
$795K
$798K
$788K
$794K
$775K
$775K
$775K
$757K
$760K
VANCOUVER DOWNTOWN
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
300
1
250
4+ bdrms
21
200
14
3 bdrms
150
111
100
27%
71
18% 16% 18%
2 bdrms
13% 11%
553
50
8%
4%
0
88
<$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
112 30 27%
284 51 18%
201 33 16%
120 21 18%
96 8 8%
129 17 13%
61 7 11%
164 7 4%
482
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 June 10, 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. 51 ●
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