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
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
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.