Let’s drill down on Vancouver’s condo prices and see which price range has the best value. What’s the average sale price for June 2011 vs a year ago? What’s the $psf? How long is it taking to sell a Vancouver condo vs a year ago? What’s the list price to sale price ratio? According to the stats today from REBGV, sales are much lower than a year ago and listings are higher, resulting in too much choice for buyers!
Best Value is Vancouver’s Middle Price Ranges
The Vancouver condo prices under $600,000 are higher than a year ago but between $700,000 and $1M the prices are lower than a year ago. Above $1M the Vancouver condo prices are higher than a year ago. But there are fewer sales in all price ranges. Below is the current $psf vs a year ago in brackets.
- $200,000o$300,000 $492psf (530)
- $300,000-$400,000 $590 (574)
- $400,000-$500,000 $627 (630)
- $500,000-$600,000 $652 (611)
- $600,000-$700,000 $657 (668)
- $700,000-$800,000 $675 (723)
- $800,000-$900,000 $711 (773)
- $900,000-$1M $795 (845)
- $1M -$1.5M $ $894 (841)
- $1.5M-$1M $1215 (1040)
- $1M-$4M $1330 (1066)
How Are Vancouver Condo Prices Compared to a Year Ago?
In June 2012 the average days on market for solds was 36, vs 38 a year ago. Average List price to sale price ratio remains equal to a year ago at 97% (indicating that sellers move an average of 3% off list price). In June 2011 the average sale price was $610,000 vs $425,000 last month. A year ago the $psf was 660 vs $591psf last month. Both Jun’12 and Jun’11 55% of all Vancouver condo sales were under $500,000. This year 7% of the sales were over $1M vs 9% last year. Apparently the Vancouver condo market is performing better than many people may think it is! Squishy in the middle!
Please leave a comment on Facebook, at the bottom of this page!
P.S. I am your Vancouver condo real estate realtor!