Yaletown condo prices moved up in May 2012, bucking the trend. Average sale price in Yaletown for May jumped to $754,750 from $661,193 in April and is equal to Oct’09 prices but has been rollercoastering! Prices peaked at $978,044 in Jan’11. Prices are up 8.3% year over year. Total Yaletown listings sit at 63, still climbing and 17% higher than a year ago. Sales in Yaletown increased to 75, equal to a year ago and on par with Apr’09. It’s taken an average of 42 days to sell a Yaletown property in may, same as a year ago. The average $psf is down to 723, on par with a year ago. The market has taken a hit and is now rollercoastering.
How Have Yaletown Condos Performed vs. Yaletown Townhomes?
Over the last year, Yaletown townhomes average sale price dropped 20% but condos are up 11%. Townhomes peaked in Mar’10 and condos peaked in Jan’11.
Where’s the Best Value for Yaletown Properties?
Yaletown condos over $899,000 ar ethe best performer, up 8% over the last year. Yaletown condos between $599,000 and $899,000 present the best buying opportunity at 8.2% less than a year ago.
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P.S. I am your Vancouver real estate condo realtor!