Real estate market update for 1 bedroom and studio condo units in downtown Vancouver for January 2018.
Home Price Index
Home Price Index for one bedroom and studio condo units in downtown Vancouver in January 2018 (see graph below)
Coal Harbour: $1,053,200 | +19.3% (change since January 2017)
Downtown VW: $730,300 | +26.2% (change since December 2017)
West End: $646,800 | +16.4% (change since December 2017)
Yaletown: $880,900 | +19.5% (change since December 2017)
Average Sales Price
Average Sales Price of one bedroom and studio condo units in downtown Vancouver in January 2018 (see graph below)
Coal Harbour: $685,000 | -5.7% (change since January 2017)
Downtown VW: $709,914 | +23.6% (change since January 2017)
West End: $615,000 | +34.3% (change since January 2017)
Yaletown: $849,269 | +50.3% (change since January 2017)
Average Percent of Original Price
Average Percent of Original Asking Price of one bedroom and studio condo units in downtown Vancouver in January 2018 (see graph below)
Coal Harbour: 100.3% | +4.7% (change since January 2017)
Downtown VW: 102.8% | +3.5% (change since January 2017)
West End: 100.9% | +1.6% (change since January 2017)
Yaletown: 101.6% | +1.5% (change since January 2017)
Average Price Per Square Foot
Average Price per Square Foot of one bedroom and studio condo units in downtown Vancouver in January 2018 (see graph below)
Coal Harbour: $1,204 | +10.2% (change since January 2017)
Downtown VW: $1,186 | +29.6% (change since January 2017)
West End: $927 | +22.5% (change since January 2017)
Yaletown: $1,226 | +17.5% (change since January 2017)
Total Inventory
Total Inventory of one bedroom and studio condo units in downtown Vancouver in January 2018 (see graph below)
Coal Harbour: $1,204 | +10.2% (change since January 2017)
Downtown VW: $1,186 | +29.6% (change since January 2017)
West End: $927 | +22.5% (change since January 2017)
Yaletown: $1,226 | +17.5% (change since January 2017)
New Listings
New Listings of one bedroom and studio condo units in downtown Vancouver in January 2018 (see graph below)
Coal Harbour: 13 | +44.4% (change since January 2017)
Downtown VW: 49 | -25.8% (change since January 2017)
West End: 13 | -31.6% (change since January 2017)
Yaletown: 22 | -33.3% (change since January 2017)
Sales
Total Sales of one bedroom and studio condo units in downtown Vancouver in January 2018 (see graph below)
Coal Harbour: 2 | -71.4% (change since January 2017)
Downtown VW: 29 | +16.0% (change since January 2017)
West End: 7 | -41.7% (change since January 2017)
Yaletown: 13 | -27.8% (change since January 2017)
Sales to Actives Ratio
Sales to Active Listings Ratio of one bedroom and studio condo units in downtown Vancouver in January 2018 (see graph below)
Coal Harbour: 0.133 | -71.5% (change since January 2017)
Downtown VW: 0.580 | +233.3% (change since January 2017)
West End: 0.333 | -11.2% (change since January 2017)
Yaletown: 0.684 | +36.8% (change since January 2017)
In conclusion, downtown condo market is very active in the first month of 2018. We se a drop in sales to active listings ratio as compared to previous months but I think that number will go up in the near future. Price per square foot has reached a new level with average price per square foot in Yaletown over $1,200.