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!
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
The BIGGER picture
![vancouver downtown condo market vancouver downtown condo market](https://s.realtyninja.com/static/media/med/4512_cb07ad24_Screen_Shot_2020-03-11_at_3.22.08_PM.png)
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::
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.
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 vancouver downtown condo market](https://s.realtyninja.com/static/media/med/4512_cb07ad24_Screen_Shot_2020-03-11_at_3.22.08_PM.png)
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.