Downtown Vancouver condo units are in high demand. Here a detailed condo market update for 1 bedroom units in downtown Vancouver. We’ve excluded townhouses and detached houses form the statistics.
Average Sales Price
Average Sales Price of ONE bedroom condo units in downtown Vancouver in July 2017 (see graph below)
Coal Harbour: $705,322 | +5.8% (change since July 2016)
Downtown VW: $631,732 | +15.9% (change since July 2016)
West End: $603,633 | -5.3% (change since July 2016)
Yaletown: $722,642 | +18.6% (change since July 2016)
Average Percent of Original Listing Price
Average Percent of Original Price of ONE bedroom condo units in downtown Vancouver in July 2017 (see graph below)
Coal Harbour: 103.4% | +0.1% (change since July 2016)
Downtown VW: 103.5% | -2.3% (change since July 2016)
West End: 99.3% | -4.9% (change since July 2016)
Yaletown: 103.3% | -0.2% (change since July 2016)
Average Price Per Square Foot
Average Price Per Square Foot of ONE bedroom condo units in downtown Vancouver in July 2017 (see graph below)
Coal Harbour: $1,191 | +6.0% (change since July 2016)
Downtown VW: $1,057 | +15.1% (change since July 2016)
West End: $940 | +6.1% (change since July 2016)
Yaletown: $1,133 | +15.5% (change since July 2016)
Total Inventory
Total Available Inventory of ONE bedroom condo units in downtown Vancouver in July 2017 (see graph below)
Coal Harbour: 15 | -16.7% (change since July 2016)
Downtown VW: 108 | +24.1% (change since July 2016)
West End: 43 | +43.3% (change since July 2016)
Yaletown: 25 | -47.9% (change since July 2016)
New Listings
All New Listings of ONE bedroom condos in downtown Vancouver in July 2017 (see graph below)
Coal Harbour: 16 | +23.1% (change since July 2016)
Downtown VW: 84 | -6.7% (change since July 2016)
West End: 37 | +48.0% (change since July 2016)
Yaletown: 32 | -25.6% (change since July 2016)
Sales
Total Number of Sales of ONE bedroom condos in downtown Vancouver in July 2017 (see graph below)
Coal Harbour: 9 | +28.6% (change since July 2016)
Downtown VW: 59 | +3.5% (change since July 2016)
West End: 18 | +28.6% (change since July 2016)
Yaletown: 24 | -14.3% (change since July 2016)
Sales to Active Listings Ratio
Sales to Actives Ratio for ONE bedroom condos in downtown Vancouver in July 2017 (see graph below)
Coal Harbour: 0.600 | +54.2% (change since July 2016)
Downtown VW: 0.546 | -16.6% (change since July 2016)
West End: 0.419 | -10.3% (change since July 2016)
Yaletown: 0.960 | +64.7% (change since July 2016)
In conclusion, downtown Vancouver condo market is a strong seller’s market. Most condo units are selling for more than the original asking price. Average sales price and average price per square foot is significantly higher as compared to last year.