How is Vancouver’s Downtown Condo Market? Vancouver’s Downtown average sale price in June ticked up from $470,000 to $479,000 and is equal to a year ago and to Sept’09. Prices peaked at $548,127 in Jan’12. Total listings are up to 570, higher than a year ago and equal to Sept’08. Sales dropped to 79, lower than a year ago and equal to Feb’10. Days to sell a property in June dropped to 79. The average $psf is down to 636, 3% lower than a year ago. This Vancouver neighbourhood represents great opportuniites for buyers!
How Have Vancouver Downtown Condos Performed Vs. Townhomes?
Compared to a year ago, Vancouver Downtown townhomes are up 7% and condos are up 3%. Townhomes peaked in Oct’09 and condos peaked in Jan’12.
Where’s the Best Value for Vancouver’s Downtown Properties?
Downtown real estate between $50,000 and $575,000 performed the best, with a 2% gain. Vancouver Downtown properties over $575,000 lost a whopping 12% over the last year. Given that the average sale price has been rollercoastering for the last 3 years, i don’t see a further decline in the market price but an increase in sales in September and maybe a tick up in prices also.
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