vancouver downtown CONDO - NOVEMBER 2 0 2 3
SALES TO LISTINGS RATIO 12% BALANCED MARKET
▶ MARKET SUMMARY
AVERAGE PRICE
AVERAGE PSF PRICE ▲ 6% VS 2022
MEDIAN PRICE
TOTAL LISTINGS
SALES
▲ 12% VS 2022
▲ 6% VS 2022
▲ 14% VS 2022
▲ 1.7% VS 2022
There were 983 condo listings in Vancouver Downtown in November, 8% below October and 14% higher than November 2022. November condo sales decreased by 0.8% month-over-month, to 122, and were 1.7% above November 2022. The sales-to-listing ratio for condos in Vancouver Downtown, at 12%, reflected a balanced market. The condo median price in November was $757,400, a 5% decrease from October and 6% above November 2022. The average sold price was $1,009,042, 1.4% below last month; the average PSF sale price was $1,140, down 0.0% to last month.
THIS MONTH No.
PREVIOUS MONTH
PREVIOUS YEAR
No. 120 862
% Change
No.
% Change
TOTAL LISTINGS TOTAL SALES SALES-LISTINGS RATIO MEDIAN SOLD PRICE AVERAGE SOLD PRICE AVERAGE PRICE PSF
122 983
6% 12% 6% -11% 1.7% 14%
$1,141 $1,022,955 $795,000 12% 123 1,067
0% -1.4% -5% 8% -0.8% -8%
$1,140 $1,009,042 $757,400 12%
$1,077 $902,128 $716,500 14%
▶ AVG PRICE PER SQUARE FOOT
▶ RECENT TRENDS
● NOV 2022 ● NOV 2023
● SALES ● TOTAL INVENTORY ● MEDIAN PRICE
1,067
983
909
1,033
862
836
782
889
869
705
775
713
688
222
165
155
123
106
85
120
185
187
122
159
121
110
$840K
$820K
$808K
$800K
$795K
$790K
$780K
$775K
$775K
$775K
$769K
$757K
$717K
VANCOUVER DOWN..
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
1
200
4+ bdrms
16
150
5
3 bdrms
103
100
48
21% 21% 21%
2 bdrms
50
464
11% 13%
8%
5%
6%
0
68
<$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
19 4 21%
84 18 21%
218 46 21%
180 19 11%
88 11 13%
87 7 8%
111 6 5%
196 11 6%
400
Copyright © 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 December 11, 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. 50 ●
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