vancouver west CONDO - NOVEMBER 2 0 2 3
SALES TO LISTINGS RATIO 18% BALANCED MARKET
▶ MARKET SUMMARY
AVERAGE PRICE
AVERAGE PSF PRICE ▲ 4% VS 2022
MEDIAN PRICE
TOTAL LISTINGS
SALES
▲ 7% VS 2022
▼ 4% VS 2022
▼ 0.6% VS 2022
▼ 1.9% VS 2022
There were 588 condo listings in Vancouver West in November, 5% below October and 7% higher than November 2022. November condo sales decreased by 6% month-over-month, to 103, and were 1.9% below November 2022. The sales-to-listing ratio for condos in Vancouver West, at 18%, reflected a balanced market. The condo median price in November was $875,000, a 2% decrease from October and 0.6% below November 2022. The average sold price was $979,660, 4% below last month; the average PSF sale price was $1,102, down 3% to last month.
THIS MONTH No.
PREVIOUS MONTH
PREVIOUS YEAR
No. 105 548
% Change
No. 109 622
% Change
TOTAL LISTINGS TOTAL SALES SALES-LISTINGS RATIO MEDIAN SOLD PRICE AVERAGE SOLD PRICE AVERAGE PRICE PSF
103 588
4% -4% -0.6% -9% -1.9% 7%
-3% -4% -2% 0% -6% -5%
$1,102 $979,660 $875,000 18%
$1,056 $1,020,720 $880,000 19%
$1,137 $1,020,383 $895,000 18%
▶ AVG PRICE PER SQUARE FOOT
▶ RECENT TRENDS
● NOV 2022 ● NOV 2023
● SALES ● TOTAL INVENTORY ● MEDIAN PRICE
558
548
588
622
516
596
539
451
470
452
446
416
404
225
203
157
155
169
155
105
103
116
109
96
82
63
$925K
$920K
$910K
$900K
$895K
$880K
$875K
$866K
$870K
$845K
$850K
$833K
$803K
VANCOUVER WEST
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
120
4+ bdrms
100
5
80
7
3 bdrms
60
94
40
30% 27%
55
23%
2 bdrms
18%
300
20
11%
9%
3%
0
41
<$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
1 0 n/a
27 8 30%
117 32 27%
117 27 23%
93 17 18%
90 8 9%
85 9 11%
58 2 3%
189
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. 53 ●
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