vancouver downtown CONDO - JUNE 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
▲ 2% VS 2023
▲ 4% VS 2023
▲ 36% VS 2023
▼ 7% VS 2023
There were 1,185 condo listings in Vancouver Downtown in June, 1.5% above May and 36% higher than June 2023.
June condo sales decreased by 0.6% month-over-month, to 173, and were 7% below June 2023.
THIS MONTH No. $1,124 $1,024,314 $805,000 15% 173 1,185
PREVIOUS MONTH
PREVIOUS YEAR
No. 187 869
% Change
No.
% Change
The sales-to-listing ratio for condos in Vancouver Downtown, at 15%, reflected a balanced market.
TOTAL INVENTORY TOTAL SALES SALES-LISTINGS RATIO MEDIAN SOLD PRICE AVERAGE SOLD PRICE AVERAGE PRICE PSF
-5% 2% 4% -32% -7% 36%
$1,159 $1,104,988 $825,000 15% 174 1,167
-3% -7% -2% -2% -0.6% 1.5%
The condo median price in June was $805,000, a 2% decrease from May and 4% above June 2023. The average sold price was $1,024,314, 7% below last month; the average PSF sale price was $1,124, down 3% to last month.
$1,187 $999,937 $775,000 22%
▶ AVG PRICE PER SQUARE FOOT
▶ RECENT TRENDS
● JUN 2023 ● JUN 2024
● SALES ● TOTAL INVENTORY ● MEDIAN PRICE
1,185
1,102
1,067
1,033
1,167
983
909
885
958
869
889
783
768
174
165
165
123
122
187
101
101
173
170
159
131
121
$825K
$815K
$808K
$805K
$795K
$798K
$794K
$788K
$775K
$775K
$775K
$760K
$757K
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
1
250
4+ bdrms
23
200
10
150
3 bdrms
122
100
23%
70
20%
19%
16%
2 bdrms
10%
50
562
7%
6%
5%
0
92
<$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
121 23 19%
270 62 23%
201 40 20%
118 19 16%
109 6 6%
135 9 7%
58 6 10%
173 8 5%
478
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 July 8, 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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