vancouver region CONDO - JUNE 2 0 2 4
SALES TO LISTINGS RATIO 21% BALANCED MARKET
▶ MARKET SUMMARY
AVERAGE PRICE
AVERAGE PSF PRICE ▼ 0.3% VS 2023
MEDIAN PRICE
TOTAL INVENTORY
SALES
▲ 2% VS 2023
▲ 1.1% VS 2023
▲ 54% VS 2023
▼ 23% VS 2023
There were 8,004 condo listings in the Vancouver Region in June, 4% above May and 54% higher than June 2023.
June condo sales decreased by 8% month-over-month, to 1,645, and were 23% below June 2023.
THIS MONTH No.
PREVIOUS MONTH
PREVIOUS YEAR
No.
% Change
No.
% Change
The sales-to-listing ratio for condos in the Vancouver Region, at 21%, reflected a balanced market.
TOTAL INVENTORY TOTAL SALES SALES-LISTINGS RATIO MEDIAN SOLD PRICE AVERAGE SOLD PRICE AVERAGE PRICE PSF
1,645 8,004
2,140 5,184
-0.3% 2% 1.1% -50% -23% 54%
1,785 7,732
0% -0.3% 0.3% -11% -8% 4%
The condo median price in June was $673,000, a 0.3% increase from May and 1.1% above June 2023. The average sold price was $761,323, 0.3% below last month; the average PSF sale price was $884, up 0.0% to last month.
$884 $761,323 $673,000 21%
$886 $744,853 $665,450 41%
$884 $763,927 $671,000 23%
▶ AVG PRICE PER SQUARE FOOT
▶ RECENT TRENDS
● JUN 2023 ● JUN 2024
● SALES ● TOTAL INVENTORY ● MEDIAN PRICE
8,004
7,103
7,732
6,238
6,048
5,966
5,387
6,037
5,184
5,456
5,248
4,851
4,758
1,880
1,785
1,690
2,140
1,517
1,363
1,645
1,742
1,618
1,329
1,142
1,060
999
$678K
$670K
$670K
$671K
$673K
$665K
$662K
$650K
$652K
$650K
$650K
$645K
$630K
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
2,500
64 6
4+ bdrms
2,000
1,500
93
3 bdrms
769
1,000
25% 25%
924
19% 18%
2 bdrms
500
4,285
9%
9%
8%
5%
0
622
<$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
2,312 571 25%
2,335 593 25%
1,394 262 19%
664 118 18%
447 40 9%
419 34 8%
134 12 9%
299 15 5%
2,886
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. 7 ●
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