greater vancouver board area CONDO - SEPTEMBER 2 0 2 3
SALES TO LISTINGS RATIO 22% SELLERS' MARKET
▶ MARKET SUMMARY
AVERAGE PRICE
AVERAGE PSF PRICE ▲ 6% VS 2022
MEDIAN PRICE
TOTAL LISTINGS
SALES
▲ 9% VS 2022
▲ 6% VS 2022
▲ 9% VS 2022
▲ 11% VS 2022
There were 4,568 condo listings in the Greater Vancouver board area in September, 17% above August and 9% higher than September 2022. September condo sales decreased by 22% month-over-month, to 989, and were 11% above September 2022. The sales-to-listing ratio for condos in the Greater Vancouver board area, at 22%, reflected a sellers' market. The condo median price in September was $711,800, a 1.2% decrease from August and 6% above September 2022. The average sold price was $816,274, 1.4% above last month; the average PSF sale price was $957, up 0.5% to last month.
THIS MONTH No.
PREVIOUS MONTH
PREVIOUS YEAR
No.
% Change
No.
% Change
TOTAL LISTINGS TOTAL SALES SALES-LISTINGS RATIO MEDIAN SOLD PRICE AVERAGE SOLD PRICE AVERAGE PRICE PSF
$957 $816,274 $711,800 22% 989 4,568
$902 $748,704 $670,000 21% 892 4,193
6% 9% 6% 1.8% 11% 9%
1,276 3,921
0.5% 1.4% -1.2% -33% -22% 17%
$953 $805,376 $720,500 33%
▶ AVG PRICE PER SQUARE FOOT
▶ RECENT TRENDS
● SEP 2022 ● SEP 2023
● SALES ● TOTAL INVENTORY ● MEDIAN PRICE
4,568
4,223
4,116
4,038
4,193
3,693
3,928
3,921
3,734
3,707
3,530
3,348
3,163
1,734
1,573
1,317
1,276
997
1,413
1,285
989
892
932
848
706
572
$729K
$726K
$725K
$720K
$721K
$712K
$705K
$690K
$680K
$685K
$680K
$677K
$670K
REBGV
FVREB
▶ 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
1400
1
1200
4+ bdrms
40
1000
800
61
3 bdrms
551
600
39%
30%
400
523
2 bdrms
19%
17%
15%
2,465
200
10%
9%
5%
0
404
<$400K $400-599K $600-799K $800-999K $1.0M-1.24M $1.25M-1.49M $1.5M-1.99M $2M+
<2 bdrms
S-L RATIO SALES INVENTORY
96 16 17%
629 247 39%
1,306 387 30%
954 181 19%
479 73 15%
352 35 10%
340 29 9%
412 21 5%
1,512
Copyright © October 10, 2023 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 October 10, 2023. All data from Real Estate Board of Greater Vancouver and Fraser Valley & 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. 10 ●
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