A detailed breakdown of 1 bedroom and studio condo units in downtown Vancouver. This real estate update will only focus on resale strata units. New construction units are not accounted for. Detached properties have their own market update.
Average Sales Price
Average Sales Price of ONE bedroom condo units in downtown Vancouver in September 2017 (see graph below)
Coal Harbour: $724,434 | +38.1% (change since September 2016)
Downtown VW: $677,084 | +29.2% (change since September 2016)
West End: $563,227 | +14.9% (change since September 2016)
Yaletown: $802,942 | +26.3% (change since September 2016)
Average Percent of Original Price
Average Percent of Original Asking Price for ONE bedroom condo units in downtown Vancouver in September 2017 (see graph below)
Coal Harbour: 99.2% | +1.1% (change since September 2016)
Downtown VW: 103.5% | +3.4% (change since September 2016)
West End: 101.5% | -2.9% (change since September 2016)
Yaletown: 104.7% | +5.7% (change since September 2016)
Average Price Per Square Foot
Average Price Per Square Foot for ONE bedroom condos in downtown Vancouver in September 2017 (see graph below)
Coal Harbour: $1,188 | +33.2% (change since September 2016)
Downtown VW: $1,109 | +25.7% (change since September 2016)
West End: $935 | +20.2% (change since September 2016)
Yaletown: $1,172 | +17.9% (change since September 2016)
Total Inventory
Total Inventory of ONE bedroom condos in downtown Vancouver in September 2017 (see graph below)
Coal Harbour: 14 | -46.2% (change since September 2016)
Downtown VW: 51 | -69.1% (change since September 2016)
West End: 38 | -11.6% (change since September 2016)
Yaletown: 33 | -47.6% (change since September 2016)
New Listings
All New Listings of ONE bedroom condo units in downtown Vancouver in September 2017 (see graph below)
Coal Harbour: 12 | -14.3% (change since September 2016)
Downtown VW: 69 | -6.8% (change since September 2016)
West End: 40 | +14.3% (change since September 2016)
Yaletown: 45 | +21.6% (change since September 2016)
Total Sales
Total Sales of ONE bedroom condo units in downtown Vancouver in September 2017 (see graph below)
Coal Harbour: 11 | +83.3% (change since September 2016)
Downtown VW: 58 | +18.4% (change since September 2016)
West End: 33 | +43.5% (change since September 2016)
Yaletown: 21 | +10.5% (change since September 2016)
Sales to Actives Ratio
Sales to Active Listings Ratio of ONE bedroom condo units in downtown Vancouver in September 2017 (see graph below)
Coal Harbour: 0.786 | +240.3% (change since September 2016)
Downtown VW: 1.137 | +282.8% (change since September 2016)
West End: 0.868 | +62.2% (change since September 2016)
Yaletown: 0.636 | +110.6% (change since September 2016)
In conclusion, downtown condo market is still very active. It continues being a strong seller’s market with a majority of 1 bedroom units selling over the asking price. In September we’ve seen some of the lowest inventory levels in the past 10 years. Prices are continuously climbing.