Downtown market active in February but benchmark prices soften

Vancouver’s downtown condo and townhouse real estate market in February experienced a slight decrease in benchmark sale prices with a 3% drop, inventory increased significantly by 8%, and sales increased by 39 % when compared to January. 

Current trends put the downtown, Westend, and Yaletown markets in “Seller’s” market conditions while Coal Harbour remained in a “Buyers” 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

What does it mean? 

Generally, analysts say downward pressure on home prices occurs when the ratio dips below 12 per cent for a sustained period, while home prices often experience upward pressure when it surpasses 20 per cent over several months.

Neighbourhood Breakdown For February

  • Downtown 34% with 182 listings and 62 sales 
  • Westend 24% with 129 listings and 31 sales
  • Yaletown 29% with 153 listings and 44 sales  
  • Coal Harbour 7% with 107 listings and 8 sales

The BIGGER picture

vancouver downtown condo market

The overall list to sales ratio for ALL of Vancouver downtown was 25% in February.  Here’s the breakdown for Vancouver Downtown condos and townhomes::

  • The most active price range was for homes between $600K to $700K (66% sales to list ratio)
  • Homes are selling on average at 100% of list price
  • Buyer’s Best Bet: Homes between $2.75M to $3M+, Coal Harbour, and 3  bedroom properties
  • Seller’s Best Bet: Selling Homes in Downtown neighbourhood and up to 1 bedroom properties. 

NEW! Check out our average live price updates by neighbourhoods here.

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.