Downtown prices soften in January but sales increase over month prior

Vancouver’s downtown condo and townhouse real estate market saw a 10% increase in condo sales, an inventory increase of 21%, and an decrease in sale prices of 2% in January compared to December. 

Current trends put the downtown, and Westend markets in “balanced” market conditions, while Yaletown and Coal Harbour were in a “Buyer’s” market conditions. 

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 13% with 264 listings and 34 sales 
  • Westend 20% with 121 listings and 24 sales
  • Yaletown 11% with 218 listings and 23 sales  
  • Coal Harbour 4% with 105 listings and 4 sales

The BIGGER picture

The overall list to sales ratio for all of Vancouver downtown was 12% in January, down from 13% in December.
Here’s the breakdown for Vancouver Downtown condos and townhomes in January:

  • The most active price range was for homes between $500k-$600K (48% sales to list ratio)
  • Homes are selling on average at 5% below list price
  • Buyer’s Best Bet: Homes between $1.5M to $2M, Coal Harbour and 2 to 3 bedroom properties
  • Seller’s Best Bet: Selling Homes in the 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.