Vancouver’s downtown condo and townhouse real estate market in June saw home inventory rise to the highest level in 12 months. Despite the increase it remains a Seller’s market Downtown, Westend, and Yaletown with the greatest demand for one bedroom condos. Coal Harbour has shifted into an upper balanced market.
The overall list to sales ratio for downtown was 28%, down from 36% in May this year.
Here’s the breakdown for Vancouver Downtown condos and townhomes in April:
- The most active price range was for homes between $500k-$600K (100% sales to list ratio)
- Homes are selling on average 3% above list price
- Buyer’s Best Bet: Homes between $3.5M to $4M, Coal Harbour and 2 bedroom properties
- Seller’s Best Bet: Selling Homes in Yaletown and up to 1 bedroom properties.
In May this year Vancouver downtown condo inventory rose substantially for the sixth month, total sales and benchmark sale prices declined slightly.
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*Buyer’s Market 1-11%, Balanced Market 12-20%, Seller’s Market 21% and up.
All stats derived from Dean Wegman & SnapStats.