Here is a look at the Downtown Vancouver condo market in February 2017. We will be looking at resale condo units only. No townhouses; no new construction. This real estate update will focus on one bedroom and two bedroom condo units separately. All graphs are for the past 3 years.
Average Sales Price of one bedroom condo units in downtown Vancouver in February 2017 (see graph below)
Coal Harbour: $703,091 | +0.7% (change since February 2016)
Downtown VW: $546,065 | +6.6% (change since February 2016)
West End: $493,580 | +16.9% (change since February 2016)
Yaletown: $627,750 | +16.5% (change since February 2016)
Average Sales Price of Two bedroom condo units in downtown Vancouver in February 2017 (see graph below)
Coal Harbour: $1,394,667 | +2.7% (change since February 2016)
Downtown VW: $1,007,063 | +1.9% (change since February 2016)
West End: $1,318,824 | +45.4% (change since February 2016)
Yaletown: $1,216,676 | +18.9% (change since February 2016)
Average Percent to Original Price one bedroom condos in downtown Vancouver sold for in February 2017 (see graph below)
Coal Harbour: 99.1% | -2.4% (change since February 2016)
Downtown VW: 101.0% | -3.7% (change since February 2016)
West End: 100.2% | -2.3% (change since February 2016)
Yaletown: 99.7% | -5.2% (change since February 2016)
Average Percent to Original Price two bedroom condos in downtown Vancouver sold for in February 2017 (see graph below)
Coal Harbour: 97.9% | -1.8% (change since February 2016)
Downtown VW: 98.4% | -3.4% (change since February 2016)
West End: 98.7% | -3.4% (change since February 2016)
Yaletown: 97.4% | -5.9% (change since February 2016)
Average Price Per Square Foot for One bedroom condos in downtown Vancouver in February 2017 (see graph below)
Coal Harbour: $1,034 | +8.0% (change since February 2016)
Downtown VW: $931 | +12.8% (change since February 2016)
West End: $837 | +26.6% (change since February 2016)
Yaletown: $1,097 | +24.7% (change since February 2016)
Average Price Per Square Foot for Two bedroom condos in downtown Vancouver in February 2017 (see graph below)
Coal Harbour: $1,303 | +17.2% (change since February 2016)
Downtown VW: $1,011 | +8.5% (change since February 2016)
West End: $1,052 | +24.3% (change since February 2016)
Yaletown: $1,115 | +17.6% (change since February 2016)
Total Inventory of One bedroom condos in downtown Vancouver in February 2017 (see graph below)
Coal Harbour: 14 | +55.6% (change since February 2016)
Downtown VW: 63 | -1.6% (change since February 2016)
West End: 27 | -37.2% (change since February 2016)
Yaletown: 32 | +60.0% (change since February 2016)
Total Inventory of Two bedroom condos in downtown Vancouver in February 2017 (see graph below)
Coal Harbour: 24 | -27.3% (change since February 2016)
Downtown VW: 59 | +9.3% (change since February 2016)
West End: 32 | -30.4% (change since February 2016)
Yaletown: 49 | +22.5% (change since February 2016)
New Listings of One bedroom condos in downtown Vancouver in February 2017 (see graph below)
Coal Harbour: 12 | +33.3% (change since February 2016)
Downtown VW: 56 | -44.0% (change since February 2016)
West End: 31 | -26.2% (change since February 2016)
Yaletown: 33 | -8.3% (change since February 2016)
New Listings of Two bedroom condos in downtown Vancouver in February 2017 (see graph below)
Coal Harbour: 10 | -37.5% (change since February 2016)
Downtown VW: 31 | -53.7% (change since February 2016)
West End: 16 | -61.0% (change since February 2016)
Yaletown: 40 | 0.0% (change since February 2016)
Total Sales of One bedroom condos in downtown Vancouver in February 2017 (see graph below)
Coal Harbour: 11 | -21.4% (change since February 2016)
Downtown VW: 52 | -40.9% (change since February 2016)
West End: 30 | -3.2% (change since February 2016)
Yaletown: 28 | +7.7% (change since February 2016)
Total Sales of Two bedroom condos in downtown Vancouver in February 2017 (see graph below)
Coal Harbour: 12 | -33.3% (change since February 2016)
Downtown VW: 30 | -36.2% (change since February 2016)
West End: 17 | -37.0% (change since February 2016)
Yaletown: 25 | -30.6% (change since February 2016)
Sales to Active Listings Ratio for One bedroom condos in downtown Vancouver in February 2017 (see graph below)
Coal Harbour: 0.786 | -49.5% (change since February 2016)
Downtown VW: 0.825 | -40.0% (change since February 2016)
West End: 1.111 | +54.1% (change since February 2016)
Yaletown: 0.875 | -32.7% (change since February 2016)
Sales to Active Listings Ratio for Two bedroom condos in downtown Vancouver in February 2017 (see graph below)
Coal Harbour: 0.500 | -8.3% (change since February 2016)
Downtown VW: 0.508 | -41.6% (change since February 2016)
West End: 0.531 | -9.5% (change since February 2016)
Yaletown: 0.510 | -43.3% (change since February 2016)
In conclusion, prices for both one and two bedroom condos are up across all four downtown neighbourhoods. The inventory is still at very low levels. One bedroom condo market as well as two bedroom condo market in downtown are seller markets.