Downtown Update: Sales decrease since October but prices edge up 8%

Vancouver’s downtown condo and townhouse real estate market saw a 18% decrease in condo sales, an inventory decrease of 4%, and an increase in sale prices of 8% in November compared to October. 

Current trends put the downtown, Yaletown, and West End markets in a “balanced” market. Coal Harbour saw the least demand in November and is in a “Buyer’s” market. 

How do we know? List to Sales Ratio 

  • A buyer’s market has a 0-12% list to sales ratio
  • A balanced market has a 12-20% list to sales ratio
  • A seller’s market has a 21% or greater list to sales ratio

Neighbourhood Breakdown

  • Downtown 15% with 319 listings and 47 sales 
  • Westend 19% with 162 listings and 30 sales
  • Yaletown 14% with 228 listings and 32 sales  
  • Coal Harbour 8% with 95 listings and 8 sales

The BIGGER picture

The overall list to sales ratio for all of Vancouver downtown was 15% in November, down from 17% in October.
Here’s the breakdown for Vancouver Downtown condos and townhomes in November:

  • The most active price range was for homes between $500k-$600K (33% sales to list ratio)
  • Homes are selling on average at 3% below list price
  • Buyer’s Best Bet: Homes between $1.5M to $2M, Coal Harbour and 3 bedroom properties
  • Seller’s Best Bet: Selling Homes Westend and up to 1 bedroom properties. 

Thinking of buying or selling a downtown condo? We're here to help! Contact us to find out why we sell the most.
All stats derived from Dean Wegman & SnapStats.