Vancouver’s Downtown Condo Prices Now Equal to Sept’09
by Maggie Chandler on August 10, 2012
in Downtown
How is Vancouver’s Downtown Condo Market? Vancouver’s Downtown average sale price in July turned down slightly from $479,000 to $463,000 and is now 8.5% lower than a year ago and equal to Sept’09. Prices peaked at $548,127 in Jan’12. Downtown listings dipped to 561, 5% higher than a year ago and equal to Nov’08. Downtown sales dropped to 62, down 18% from a year ago and equal to Feb’09. Days to sell a property in July sat at 42. The average $psf is down to 624. This Vancouver neighbourhood represents great opportunities for buyers!
How Have Vancouver Downtown Condos Performed Vs. Townhomes?
Compared to a year ago, Vancouver Downtown townhomes are up 23% (pushed up by some high end sales) and condos are down 9.7%. Townhomes peaked in Oct’09 and condos peaked in Jan’12.
Where’s the Best Value for Vancouver’s Downtown Properties?
Compared to a year ago, Downtown real estate above $575,000 performed the best, with a 5% gain and Vancouver Downtown properties under $360,000 performed the worst, with a 5% loss. Given that the average sale price has been rollercoastering for the last 3 years, i see this continuing til year end, with an increase in sales for the Fall. I’m currently working with Downtown buyer clients and I see amazing deals out there!
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WELCOME! And thanks for checking out my site, and wanting to know a little bit about me.
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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How is Vancouver’s Downtown Condo Market? Vancouver’s Downtown average sale price in July turned down slightly from $479,000 to $463,000 and is now 8.5% lower than a year ago and equal to Sept’09. Prices peaked at $548,127 in Jan’12. Downtown listings dipped to 561, 5% higher than a year ago and equal to Nov’08. Downtown sales dropped to 62, down 18% from a year ago and equal to Feb’09. Days to sell a property in July sat at 42. The average $psf is down to 624. This Vancouver neighbourhood represents great opportunities for buyers!
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