vancouver region 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
▲ 7% VS 2022
▲ 5% VS 2022
▲ 9% VS 2022
▲ 14% VS 2022
There were 5,980 condo listings in the Vancouver Region in September, 14% above August and 9% higher than September 2022. September condo sales decreased by 21% month-over-month, to 1,333, and were 14% above September 2022. The sales-to-listing ratio for condos in the Vancouver Region, at 22%, reflected a sellers' market. The condo median price in September was $650,000, a 3% decrease from August and 5% above September 2022. The average sold price was $746,546, 0.3% above last month; the average PSF sale price was $883, down 0.3% 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
1,333 5,980
1,171 5,499
6% 7% 5% 5% 14% 9%
1,690 5,263
-0.3% 0.3% -3% -31% -21% 14%
$883 $746,546 $650,000 22%
$836 $695,400 $620,000 21%
$885 $744,580 $670,000 32%
▶ AVG PRICE PER SQUARE FOOT
▶ RECENT TRENDS
● SEP 2022 ● SEP 2023
● SALES ● TOTAL INVENTORY ● MEDIAN PRICE
5,980
5,526
5,403
5,275
5,200
5,499
4,753
4,603
5,263
4,924
4,769
4,365
4,138
2,251
2,142
1,808
1,690
1,274
1,900
1,121
1,744
1,333
1,171
1,217
923
770
$675K
$665K
$670K
$661K
$652K
$650K
$640K
$635K
$630K
$630K
$625K
$625K
$620K
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
43 1
4+ bdrms
1500
78
1000
3 bdrms
646
35%
26%
735
26%
500
2 bdrms
18% 16%
3,308
10%
8%
5%
0
519
<$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
205 53 26%
1,324 458 35%
1,780 471 26%
1,037 187 18%
495 77 16%
364 37 10%
350 29 8%
425 21 5%
1,983
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. 7 ●
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