vancouver downtown CONDO - OCTOBER 2 0 2 4
SALES TO LISTINGS RATIO 13% BALANCED MARKET
▶ MARKET SUMMARY
AVERAGE PRICE
AVERAGE PSF PRICE ▼ 3% VS 2023
MEDIAN PRICE
TOTAL INVENTORY
SALES
▲ 11% VS 2023
▲ 28% VS 2023
▼ 1.2% VS 2023
▼ 6% VS 2023
There were 1,188 condo listings in Vancouver Downtown in October, 2% below September and 11% higher than October 2023. October condo sales increased by 45% month-over-month, to 157, and were 28% above October 2023.
THIS MONTH No. $1,112 $1,010,623 $750,000 13% 157 1,188
PREVIOUS MONTH
PREVIOUS YEAR
No.
% Change
No.
% Change
The sales-to-listing ratio for condos in Vancouver Downtown, at 13%, re(ected a balanced market.
TOTAL INVENTORY TOTAL SALES SALES-LISTINGS RATIO MEDIAN SOLD PRICE AVERAGE SOLD PRICE AVERAGE PRICE PSF
$1,141 $1,022,955 $795,000 12% 123 1,067
15% 28% 11%
$1,103 $919,366 $739,700 9% 108 1,213
0.9% 10% 1.4% 48% 45% -2%
The condo median price in October was $750,000, a 1.4% increase from September and 6% below October 2023. The average sold price was $1,010,623, 10% above last month; the average PSF sale price was $1,112, up 0.9% to last month.
-3% -1.2% -6%
▶ AVG PRICE PER SQUARE FOOT
▶ RECENT TRENDS
● OCT 2023 ● OCT 2024
● SALES ● TOTAL INVENTORY ● MEDIAN PRICE
1,188
1,102
1,213
1,185
1,180
1,167
1,067
983
1,121
885
958
783
768
174
173
165
151
122
108
101
101
157
123
170
131
121
$825K
$815K
$805K
$795K
$798K
$794K
$790K
$788K
$760K
$757K
$750K
$745K
$740K
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
4+ bdrms
23
250
200
8
3 bdrms
107
150
27%
100
66
16% 15%
2 bdrms
12%
551
50
7%
7%
7%
5%
0
83
<$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
129 35 27%
306 50 16%
186 28 15%
138 17 12%
102 7 7%
121 9 7%
56 4 7%
150 7 5%
507
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 November 12, 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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