the vancouver rennie review | July 2024

vancouver west ½-DUPLEX - JUNE 2 0 2 4

SALES TO LISTINGS RATIO 12% BALANCED MARKET

▶ MARKET SUMMARY

AVERAGE PRICE

AVERAGE PSF PRICE ▼ 4% VS 2023

MEDIAN PRICE

TOTAL INVENTORY

SALES

▲ 0.3% VS 2023

▲ 8% VS 2023

▲ 100% VS 2023

▼ 8% VS 2023

There were 90 ½-duplex listings in Vancouver West in June, 10% above May and 100% higher than June 2023.

June ½-duplex sales decreased by 21% month-over-month, to 11, and were 8% below June 2023.

THIS MONTH No.

PREVIOUS MONTH

PREVIOUS YEAR

No.

% Change

No.

% Change

The sales-to-listing ratio for ½-duplexes in Vancouver West, at 12%, reflected a balanced market.

TOTAL INVENTORY TOTAL SALES SALES-LISTINGS RATIO MEDIAN SOLD PRICE AVERAGE SOLD PRICE AVERAGE PRICE PSF

11 90

12 45

-4% 0.3% 8% -54% -8% 100%

14 82

-15% -20% -15% -28% -21% 10%

The ½-duplex median price in June was $2,360,000, a 15% decrease from May and 8% above June 2023. The average sold price was $2,178,273, 20% below last month; the average PSF sale price was $1,243, down 15% to last month.

$1,243 $2,178,273 $2,360,000 12%

$1,293 $2,172,319 $2,180,000 27%

$1,465 $2,714,224 $2,777,500 17%

▶ AVG PRICE PER SQUARE FOOT

▶ RECENT TRENDS

● JUN 2023 ● JUN 2024

● SALES ● TOTAL INVENTORY ● MEDIAN PRICE

90

82

68

43

42

45

39

37

44

40

34

33

28

17

14

9

7

12

11

5

4

4

3

14

9

9

$2.78M

$2.51M $2.50M $2.41M $2.35M

$2.40M $2.28M

$2.36M

$2.25M $2.35M

$2.18M $2.38M

$1.88M

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

30

2

4+ bdrms

33

25

20

8

3 bdrms

49

15

33%

28%

10

1

20%

2 bdrms

8

5

7%

6%

0

<2 bdrms

<$1M $1.0M-1.24M $1.25M-1.49M $1.5M-1.74M $1.75M-1.99M $2.0M-2.49M $2.5M-2.99M $3.0M+

S-L RATIO SALES INVENTORY

2 0 n/a

3 1 33%

15 1 7%

10 2 20%

18 5 28%

31 2 6%

11 0 n/a

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. 53 ●

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