What’s Selling Best in Vancouver’s Condominium Market?
by Maggie Chandler on May 2, 2012
in How's The Market
If you’re a seller in our current buyers market you need to understand the Vancouver condominium market and what price range is selling the best. If you’re not in that price range, will have to decide if this is the right time to sell and if it is, how to aggressively market and price your Vancouver property to achieve the right results. If you are a Vancouver buyer in the current buyers market, you need to analyse what price range is the strongest and weakest, so as to determine what percentage off the list price is achievable.
Are Vancouver One Bedroom Properties Outselling The Competition?
The stats for April show a total so far of 179 condos sold in Vancouver’s west side, of which 91 are one bedrooms and 80 are 2 bedrooms and only 8 are three bedrooms.
60% of one bedrooms sold under $400,000 and 90% were under $500,000. One bedroom average days on market was 36. Average sale price of $402,000 and $626psf.
50% of two bedroom sales were under $600,000 and only 15% were over $1M. The two bedrooms had an average of 46 days on the market, average sale price of $732,000 and $672psf.
Which Price Range Has the Most Property Sales in Vancouver?
55% of total Vancouver condo sales were under $500,000 and only 7% were over $1M.
With 75% of the sales under $600,000 it’s slim pickings for sellers with condos priced above that. As Cameron Muir at BCREA said, the higher price ranges pushed up the average sales price due to the high volume in that range and now the high end buyer has diminished, the average price is falling. In fact, the lower price range of the market is doing fine.
What’s your opinon of the Vancouver condo market? Leave a comment on Facebook, at the bottom of this page.
Buying or selling your Vancouver condo? I come armed with stats and graphs, hyperlocal info and decades of experience!
Leave A Reply With Facebook
comments
Post by
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.
Providing trustworthy real estate services in the Vancouver area for over 30 years
has written 2249 articles.
You must log in to post a comment.