How’s Vancouver’s Downtown Condo Market?
by Maggie Chandler on May 9, 2012
in Downtown
Vancouver’s Downtown condo market in April showed the average sale price rose to $518,068, up from $334,000 in Jan’06! January was the peak and April was higher than March. Prices are up 0.5% over the last year, whilst total listings have now flattened and are equal to a year ago. Sales are down a whopping 20% from a year ago and lower than March, having peaked in Oct’09. It’s taken an average of 45 days to sell a property in April, which is 49% longer than a year ago and the average $psf is 654, equal to a year ago. This Vancouver neighbourhood is doing well, given current market conditions.
How Have Vancouver Downtown Condos Performed Vs. Townhomes?
Over the last year Vancouver Downtown townhomes have dropped 11.6% and condos have risen 1.1%. Townhomes peaked in Oct’09 and condos peaked in Jan’12.
Where’s the Best Value for Vancouver’s Downtown Properties?
Overall, the average sale price for 3 bedroom properties dropped 50% over the last year (lack of high end sales?). Two bedrooms gained 3.3% and one bedrooms performed the best with a 8.8% gain. We’ve returned to a lower priced market.
What’s your opinion of the Vancouver Downtown Condominium market? Are you buying or selling? Please leave a comment at the bottom of this page on Facebook.
Buying or Selling a condo or townhome in Vancouver’s Downtown? I come armed with stats and graphs, hyperlocal info, strong communication skills, all coupled with decades of experience!
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I LOVE what I do, and that’s helping home buyers and home sellers in the waterfront condo neighbourhoods of Vancouver and I’ve been doing just that for nearly 30 years, so I’ve really gotten to know this market like the back of my hand. In fact I’ve seen Vancouver’s neighbourhoods of Coal Harbour, Downtown, Kitsilano, False Creek North, the West End and now the Olympic Village being built and I have an in depth knowledge of these neighbourhoods. My interest in Vancouver’s history combines with my interest in the changes and growth of its waterfront neighbourhoods. If you see me walking on the seawall, playing tennis or boating, say hello!
The city of Vancouver and its neighbourhoods of Coal Harbour, Downtown, Kitsilano, False Creek North, the Olympic Village and the West End have been put on the world map with its dynamic growth, international immigration, hosting the 2010 Winter Olympics, amazing world class restaurants, geographical beauty and quality of life. Consistently voted the Best City in the World to live, you can find great shopping, sports and entertainment in Vancouver.
I assist first time and trade up home buyers, investors and vacation home buyers, as well as first time and trade up home sellers, investors and vacation home sellers with the purchase and sale of houses, townhouses and condominiums.
I come armed with stats and graphs and an extensive knowledge of market activity, with attention to detail that will give you piece of mind that I’m working in your best interest, I am a hard working, detail oriented, diligent individual with strong interpersonal skills, patience and a high level of integrity . My goal is to make the home buying and the home selling a fun trip with low stress and I use today’s technology to make every real estate transaction as smooth as possible by clearly answering your questions, providing expertise and offering a savvy opinion.
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Vancouver’s Downtown condo market in April showed the average sale price rose to $518,068, up from $334,000 in Jan’06! January was the peak and April was higher than March. Prices are up 0.5% over the last year, whilst total listings have now flattened and are equal to a year ago. Sales are down a whopping 20% from a year ago and lower than March, having peaked in Oct’09. It’s taken an average of 45 days to sell a property in April, which is 49% longer than a year ago and the average $psf is 654, equal to a year ago. This Vancouver neighbourhood is doing well, given current market conditions.
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