vancouver region CONDO - OCTOBER 2 0 2 4
SALES TO LISTINGS RATIO 21% SELLERS' MARKET
▶ MARKET SUMMARY
AVERAGE PRICE
AVERAGE PSF PRICE ▼ 0.5% VS 2023
MEDIAN PRICE
TOTAL INVENTORY
SALES
▲ 0.9% VS 2023
▲ 0.5% VS 2023
▲ 37% VS 2023
▲ 32% VS 2023
There were 8,526 condo listings in the Vancouver Region in October, 2% below September and 37% higher than October 2023. October condo sales increased by 45% month-over-month, to 1,795, and were 32% above October 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%, re'ected a sellers' market.
TOTAL INVENTORY TOTAL SALES SALES-LISTINGS RATIO MEDIAN SOLD PRICE AVERAGE SOLD PRICE AVERAGE PRICE PSF
1,795 8,526
1,363 6,240
32% 37%
1,237 8,732
3% 5% 1.7% 49% 45% -2%
The condo median price in October was $655,000, a 1.7% increase from September and 0.5% above October 2023. The average sold price was $754,392, 5% above last month; the average PSF sale price was $878, up 3% to last month.
$878 $754,392 $655,000 21%
$883 $747,878 $652,000 22%
-0.5% 0.9% 0.5% -4%
$855 $715,343 $644,000 14%
▶ AVG PRICE PER SQUARE FOOT
▶ RECENT TRENDS
● OCT 2023 ● OCT 2024
● SALES ● TOTAL INVENTORY ● MEDIAN PRICE
8,251
8,732
8,526
7,735
7,106
8,003
8,000
6,050
6,240
6,039
5,458
4,760 4,853
1,878
1,784
1,567
1,517
1,795
1,363
1,618
1,645
1,338
1,237
1,142
1,060
999
$678K
$671K
$671K
$673K
$658K
$652K
$650K
$650K
$655K
$655K
$645K
$644K
$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
59 5
4+ bdrms
2,000
120
1,500
3 bdrms
788
1,000
26% 24%
981
17% 18% 15%
500
2 bdrms
11% 10%
4,651
6%
0
<$600K $600K-799K $800K-999K $1.0M-1.24M $1.25M-1.49M $1.5M-1.99M $2.0M-2.49M $2.5M+
689
S-L RATIO SALES INVENTORY
2,541 662 26%
2,611 624 24%
1,520 259 17%
661 118 18%
412 63 15%
373 40 11%
147 14 10%
261 15 6%
<2 bdrms
3,028
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. 7 ●
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