How is Vancouver’s Downtown Condo Market? Vancouver’s Downtown condo average sale price in May dropped to $470,697 (from $518,068 in April) and is equal Sept’09 prices but has been rollercoastering! Prices peaked at $548,127 in January. Prices lost 7.2% year over year. Total listings are up to 530, higher than a year ago and equal to Nov’08. Sales dropped to 89, lower than a year ago and equal to Apr’09. It’s taken an average of 41 days to sell a property in May,which was quicker than April. The average $psf is down to 641, equal to a year ago. This Vancouver neighbourhood represents great opportuniites for buyers!
How Have Vancouver Downtown Condos Performed Vs. Townhomes?
Over the last year Vancouver Downtown townhomes have dropped 10% and condos have dropped 6.6%. Townhomes peaked in Oct’09 and condos peaked in Jan’12.
Where’s the Best Value for Vancouver’s Downtown Properties?
Downtown one bedroom condos under $360,000 lost 7.3% over the last year. Vancouver Downtown condos between $450,000 and $575,000 performed the best with a 0.3% gain.
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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! I am your Vancouver real estate condo realtor!