vancouver region CONDO - NOVEMBER 2 0 2 3
SALES TO LISTINGS RATIO 19% BALANCED MARKET
▶ MARKET SUMMARY
AVERAGE PRICE
AVERAGE PSF PRICE ▲ 8% VS 2022
MEDIAN PRICE
TOTAL LISTINGS
SALES
▲ 4% VS 2022
▲ 4% VS 2022
▲ 15% VS 2022
▲ 2% VS 2022
There were 6,061 condo listings in the Vancouver Region in November, 3% below October and 15% higher than November 2022. November condo sales decreased by 16% month-over-month, to 1,145, and were 2% above November 2022. The sales-to-listing ratio for condos in the Vancouver Region, at 19%, reflected a balanced market. The condo median price in November was $650,000, a 0.2% decrease from October and 4% above November 2022. The average sold price was $736,227, 1.5% below last month; the average PSF sale price was $875, down 0.9% 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
1,145 6,061
1,121 5,275
8% 4% 4% -11% 2% 15%
1,364 6,249
-0.9% -1.5% -0.2% -13% -16% -3%
$875 $736,227 $650,000 19%
$813 $704,700 $625,000 21%
$883 $747,721 $651,500 22%
▶ AVG PRICE PER SQUARE FOOT
▶ RECENT TRENDS
● NOV 2022 ● NOV 2023
● SALES ● TOTAL INVENTORY ● MEDIAN PRICE
5,980
6,061
6,249
5,404
5,275
5,200
4,753
4,603
5,264
4,924
4,769
4,365
4,138
2,251
2,142
1,808
1,690
1,364
1,900
1,744
1,121
1,145
1,329
1,217
922
770
$675K
$665K
$670K
$661K
$652K
$650K
$652K
$650K
$640K
$630K
$630K
$625K
$625K
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
46 1
4+ bdrms
1500
60
3 bdrms
1000
644
28%
617
500
24%
20% 19%
2 bdrms
3,272
12%
8%
8%
5%
0
467
<$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
201 48 24%
1,449 404 28%
1,815 366 20%
1,041 197 19%
539 63 12%
336 26 8%
312 24 8%
368 17 5%
2,099
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. 7 ●
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