Vancouver’s Downtown condo prices ticked up in August turned up slightly from $463,000 to $484,400 and is now 0.9% higher than a year ago and equal to Nov’11. Prices peaked at $548,127 in Jan’12. Downtown listings dipped to 507, 4.7% lower than a year ago. Downtown sales increased to 66, down 4.3% from a year ago. Days to sell a property sat at 54. The average $psf is up to 645. Downtown’s Sales to active ratio increased to 13, indicating the lower end of a balanced market. Market bottomed?
How Have Vancouver Downtown Condos Performed Vs. Townhomes?
Compared to a year ago, Vancouver Downtown townhome prices are up 0.5% and condos are up 0.4%. 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 below $360,000 and above $575,000 performed the best. Given that the average sale price has been rollercoastering for the last 3 years
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