Let’s take a look at one bedroom and studio condo units in downtown Vancouver in October 2017. This real estate market update will focus on resale strata units. New construction is not included. For detached properties see a separate post.
Average Sales Price
Average Sales Price of ONE bedroom condo units in downtown Vancouver in October 2017 (see graph below)
Coal Harbour: $1,029,049 | +87.5% (change since October 2016)
Downtown VW: $653,133 | +21.9% (change since October 2016)
West End: $750,659 | +26.4% (change since October 2016)
Yaletown: $611,579 | +13.4% (change since October 2016)
Average Percent of Original Price
Average Percent of Original Asking Price of ONE bedroom condo units in downtown Vancouver in October 2017 (see graph below)
Coal Harbour: 100.5% | +3.8% (change since October 2016)
Downtown VW: 102.5% | +3.0% (change since October 2016)
West End: 99.5% | +1.5% (change since October 2016)
Yaletown: 100.1% | +0.5% (change since October 2016)
Average Price Per Square Foot
Average Price Per Square Foot for ONE bedroom condo units in downtown Vancouver in October 2017 (see graph below)
Coal Harbour: $1,394 | +52.2% (change since October 2016)
Downtown VW: $1,091 | +22.7% (change since October 2016)
West End: $1,151 | +18.9% (change since October 2016)
Yaletown: $996 | +25.1% (change since October 2016)
Total Inventory
Total Inventory for ONE bedroom condos in downtown Vancouver in October 2017 (see graph below)
Coal Harbour: 12 | -57.1% (change since October 2016)
Downtown VW: 55 | -67.8% (change since October 2016)
West End: 33 | -31.3% (change since October 2016)
Yaletown: 36 | -26.5% (change since October 2016)
New Listings
All New Listings of ONE bedroom condos in downtown Vancouver in October 2017 (see graph below)
Coal Harbour: 7 | -30.0% (change since October 2016)
Downtown VW: 64 | 0.0% (change since October 2016)
West End: 41 | +57.7% (change since October 2016)
Yaletown: 30 | +30.4% (change since October 2016)
Sales
Total Sales of ONE bedroom condo units in downtown Vancouver in October 2017 (see graph below)
Coal Harbour: 8 | +60.0% (change since October 2016)
Downtown VW: 48 | +14.3% (change since October 2016)
West End: 30 | +20.0% (change since October 2016)
Yaletown: 24 | +71.4% (change since October 2016)
Sales to Actives Ratio
Sales to Active Listings Ratio for ONE bedroom condo units in downtown Vancouver in October 2017 (see graph below)
Coal Harbour: 0.667 | +272.6% (change since October 2016)
Downtown VW: 0.873 | +254.9% (change since October 2016)
West End: 0.909 | +74.5% (change since October 2016)
Yaletown: 0.667 | +133.2% (change since October 2016)
In conclusion, downtown Vancouver condo market is still a very strong seller’s market. Average selling prices continues going up. Month after month we see record breaking numbers. No sight of slowing down for the Vancouver condo market.