Vancouver’s downtown condo and townhouse real estate market in January remained in a *Seller’s market with a 39% list to sales ratio. Yaletown was the strongest neighbourhood, followed by West End, Downtown, and then Coal Harbour. The overall list to sales ratio was 41% (down from 53%) which means it is slowing but there is still upwards pressure on pricing. Here’s the breakdown for condo’s & town homes for Vancouver’s Downtown area in December:
• The most active price range was for homes between $500k-$600K (78% Sales Ratio) and homes from $1.75M to $2M.
• Homes are selling on average at list price (up from 1% below list price).
• Buyer’s Best Bet: Homes between $800K to $900K, and $2.5M to $2.75M plus Coal Harbour neighbourhood & 3 bedroom properties
• Seller’s Best Bet: Selling Homes in Yaletown and up to 1 bedroom properties
Between December and January this year vancouver downtown condo total sales declined slightly, while benchmark sale prices and inventory edged up.
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.*Buyer’s Market 1-11%, Balanced Market 12-20%, Seller’s Market 21% and up.
All stats derived from SnapStats.