Downtown condo market sales rebound in May as lockdown continues 

Vancouver's downtown condo market showed signs of rebounding in May as sales rose by 27% and prices edged up slightly when compared to April.  Sales are still well below the 13 month average but it is the first time since the pandemic and lockdown began mid march that sales have risen month to month.  In May the inventory downtown increased by 13% and sale prices rose by 2% when compared to the previous month. 
Current trends have the downtown, West End, and Yaletown neighbourhoods in “Balanced” market conditions, while Coal Harbour is in a “Buyer’s” market. These current trends remain the same as they were in April.

Here’s the breakdown for Vancouver Downtown condos and townhomes in May:

  • The most active price range was for homes between $400K to $500K (62% sales to list ratio)
  • Homes are selling on average at 3% below list price
  • Buyer’s Best Bet: Homes $5 mil plus, Coal Harbour and up to 3 bedroom properties
  • Seller’s Best Bet: Selling Homes in the Westend and up to 1 bedroom properties. 

To read the full blog, check out our average live price updates by downtown neighbourhoods, see local market trends, and ALL downtown condos and townhomes currently for sale visit our speciality website  

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All stats derived from Dean Wegman & SnapStats.