Yaletown condo prices are only down 2.8% year over year. Average sale price in Yaletown for June softened to $704,000 (from $754,750 in May) and is now equal Apr’08 prices but has been on a roller coaster. Prices peaked at $978,044 in Jan’11. Listings flat at 376 and 16% higher than a year ago. Sales dropped to 58, which is 27% below a year ago. Days on market dropped to 31, same as a year ago. The average $psf is flat at 720. Yaletown condo prices have been on a roller coaster since Apr’08, so in fact buyers can buy for the same price they did four years ago. Expect sales to pick up in second half of 2012.
How Have Yaletown Condos Performed Vs Townhomes?
Year over year Yaletown townhomes average sale price is up 5% but condos are down 5%. Townhomes peaked in Mar’10 and condos peaked in Jan’11.
Where’s the Best Value for Yaletown Properties?
Yaletown condos between $600,000 and $900,000 are the best performer, up 6.5% over the last year. Yaletown condos below $359,000 present the best buying opportunity at 5% less than a year ago.
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