Let’s take a look at one bedroom and studio condo market in Downtown Vancouver. We will only look at the resale market, new construction units are excluded.
Average Sales Price
Average Sales Price of ONE bedroom condo units in downtown Vancouver in November 2017 (see graph below)
Coal Harbour: $949,654 | +57.2% (change since November 2016)
Downtown VW: $677,564 | +24.2% (change since November 2016)
West End: $812,839 | +19.3% (change since November 2016)
Yaletown: $600,800 | +23.2% (change since November 2016)
Average Percent of Original Price
Average Percent of Original Asking Price for ONE bedroom condo units in downtown Vancouver in November 2017 (see graph below)
Coal Harbour: 99.2% | +2.5% (change since November 2016)
Downtown VW: 105.7% | +5.9% (change since November 2016)
West End: 101.2% | +3.7% (change since November 2016)
Yaletown: 99.8% | -1.2% (change since November 2016)
Average Price Per Square Foot
Average Price Per Square Foot for ONE bedroom and studio condos in downtown Vancouver in November 2017 (see graph below)
Coal Harbour: $1,526 | +59.0% (change since November 2016)
Downtown VW: $1,143 | +26.0% (change since November 2016)
West End: $1,170 | +18.7% (change since November 2016)
Yaletown: $979 | +18.1% (change since November 2016)
Total Inventory
Total Inventory of ONE bedroom and studio condo units in downtown Vancouver in November 2017 (see graph below)
Coal Harbour: 12 | -50.0% (change since November 2016)
Downtown VW: 56 | -65.0% (change since November 2016)
West End: 23 | -51.1% (change since November 2016)
Yaletown: 27 | -44.9% (change since November 2016)
New Listings
All New Listings of ONE bedroom and studio condo units in downtown Vancouver in November 2017 (see graph below)
Coal Harbour: 11 | +37.5% (change since November 2016)
Downtown VW: 66 | +26.9% (change since November 2016)
West End: 26 | -13.3% (change since November 2016)
Yaletown: 28 | -3.4% (change since November 2016)
Sales
Total Sales of ONE bedroom and studio condos in downtown Vancouver in November 2017 (see graph below)
Coal Harbour: 9 | +125.0% (change since November 2016)
Downtown VW: 50 | +19.0% (change since November 2016)
West End: 28 | +27.3% (change since November 2016)
Yaletown: 30 | +50.0% (change since November 2016)
Sales to Actives Ratio
Sales to Active Listings Ratio of ONE bedroom and studio condos in downtown Vancouver in November 2017 (see graph below)
Coal Harbour: 0.750 | +349.1% (change since November 2016)
Downtown VW: 0.893 | +239.5% (change since November 2016)
West End: 1.217 | +160.0% (change since November 2016)
Yaletown: 1.111 | +172.3% (change since November 2016)
In conclusion, Downtown Vancouver condo market is still a very strong seller’s market. A lot of units are selling over the asking price. We smallest inventory numbers in years. Prices are continuously climbing up month-after-month. This condo market is not showing any signs of slowing down.