Here is Downtown Vancouver condo market real estate update and breakdown for December 2017. Let’s look at 1 bedroom and studio condo units for the month of December. Go over statistics and overall state of the market.
Average Sales Price
Average Sales Price of ONE bedroom condo units in downtown Vancouver in December 2017 (see graph below)
Coal Harbour: $918,178 | +38.7% (change since December 2016)
Downtown VW: $693,389 | +12.5% (change since December 2016)
West End: $588,094 | +27.6% (change since December 2016)
Yaletown: $746,767 | +6.7% (change since December 2016)
Average Percent of Original Price
Average Percent of Original Asking Price of ONE bedroom condo units in downtown Vancouver in December 2017 (see graph below)
Coal Harbour: 98.4% | +2.1% (change since December 2016)
Downtown VW: 100.9% | +2.5% (change since December 2016)
West End: 100.3% | -0.8% (change since December 2016)
Yaletown: 101.2% | +4.1% (change since December 2016)
Average Price Per Square Foot
Average Price Per Square Foot of ONE bedroom condo units in downtown Vancouver in December 2017 (see graph below)
Coal Harbour: $1,369 | +34.1% (change since December 2016)
Downtown VW: $1,135 | +22.2% (change since December 2016)
West End: $945 | +25.7% (change since December 2016)
Yaletown: $1,178 | +17.8% (change since December 2016)
Total Inventory
Total Inventory of ONE bedroom condos in downtown Vancouver in December 2017 (see graph below)
Coal Harbour: 6 | -62.5% (change since December 2016)
Downtown VW: 40 | -66.7% (change since December 2016)
West End: 16 | -51.5% (change since December 2016)
Yaletown: 11 | -64.5% (change since December 2016)
New Listings
All New Listings of ONE bedroom condos in downtown Vancouver in December 2017 (see graph below)
Coal Harbour: 5 | 0.0% (change since December 2016)
Downtown VW: 26 | +36.8% (change since December 2016)
West End: 12 | +140.0% (change since December 2016)
Yaletown: 6 | -45.5% (change since December 2016)
Sales
Total Sales of ONE bedroom condos in downtown Vancouver in December 2017 (see graph below)
Coal Harbour: 5 | -37.5% (change since December 2016)
Downtown VW: 37 | -5.1% (change since December 2016)
West End: 20 | +42.9% (change since December 2016)
Yaletown: 15 | -11.8% (change since December 2016)
Sales to Actives Ratio
Sales to Active Listings Ratio of ONE bedroom condos in downtown Vancouver in December 2017 (see graph below)
Coal Harbour: 0.833 | +66.6% (change since December 2016)
Downtown VW: 0.925 | +184.6% (change since December 2016)
West End: 1.250 | +194.8% (change since December 2016)
Yaletown: 1.364 | +148.9% (change since December 2016)
In conclusion, Vancouver downtown condo market is still a very active sellers market. Inventory levels have dropped as compared to November. We see incredible sales to active listings ratio numbers. 1 bedroom and studio condo units in downtown are in huge demand.