vancouver west CONDO - MAY 2 0 2 4
SALES TO LISTINGS RATIO 24% SELLERS' MARKET
▶ MARKET SUMMARY
AVERAGE PRICE
AVERAGE PSF PRICE ▼ 1.6% VS 2023
MEDIAN PRICE
TOTAL INVENTORY
SALES
▲ 60% VS 2023
▼ 1.0% VS 2023
▼ 3% VS 2023
▼ 21% VS 2023
There were 753 condo listings in Vancouver West in May, 11% above April and 60% higher than May 2023.
May condo sales increased by 19% month-over-month, to 177, and were 21% below May 2023.
THIS MONTH No.
PREVIOUS MONTH
PREVIOUS YEAR
No. 225 470
% Change
No. 149 677
% Change
The sales-to-listing ratio for condos in Vancouver West, at 24%, re*ected a sellers' market.
TOTAL INVENTORY TOTAL SALES SALES-LISTINGS RATIO MEDIAN SOLD PRICE AVERAGE SOLD PRICE AVERAGE PRICE PSF
177 753
-1.6% -1% -3% -51% -21% 60%
1.1% 2% -4% 7% 19% 11%
The condo median price in May was $875,000, a 4% decrease from April and 3% below May 2023. The average sold price was $984,572, 2.0% above last month; the average PSF sale price was $1,129, up 1.1% to last month.
$1,129 $984,572 $875,000 24%
$1,148 $994,921 $900,000 48%
$1,117 $965,539 $910,000 22%
▶ AVG PRICE PER SQUARE FOOT
▶ RECENT TRENDS
● MAY 2023 ● MAY 2024
● SALES ● TOTAL INVENTORY ● MEDIAN PRICE
753
677
622
596
588
558
516
490
539
538
470
491
480
203
225
155
134
177
103
169
149
138
116
109
87
76
$925K
$920K
$910K
$915K
$910K
$900K
$897K
$900K
$895K
$875K
$875K
$870K
$845K
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
4+ bdrms
150
4
12
100
53%
3 bdrms
104
26%
50
86
20%
19% 19%
2 bdrms
392
9%
6%
5%
0
79
<$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
49 10 20%
118 62 53%
174 45 26%
119 23 19%
124 24 19%
100 9 9%
31 2 6%
38 2 5%
253
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. 55 ●
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