The Vancouver condo & townhome real estate market slowed down in April after a fast-climbing first quarter. All 3 areas of Vancouver; Downtown, Westside and Eastside all recorded a decline in sales ratios from the previous month-highs.
Eastside Condo and Townhome Market Starts to Settle.
After 4 consecutive months of Vancouver Eastside condos and townhomes recording increasingly high sales ratios, the market experienced a drop in April. Compared to the previous month’s sales ratio of 75%, condo & townhome sales in the Eastside dropped to a 53% sales ratio for April. This area brought in more new listings this month, however, total sales dropped compared to last month.
Most Popular Eastside Neighbourhoods and Price Bands
On the other hand, multiple price bands and neighbourhoods in Vancouver Eastside still had a very successful month.
- $400k-$500k condos and townhomes sold at 95% sales ratio for the month (22 new listings, 21 sales)
- $500K – $800k condo and townhomes sold at 61% sales ratio (159 new listings, 97 sales)
- Renfrew Heights and Victoria condos & townhomes sold at 125% sales ratio (16 new listings, 20 sales)
- Hastings and Hastings Sunrise condos & townhomes sold at 94% sales ratio(17 new listings, 16 sales)
Downtown Condo and Townhome Sales Also Experienced a Slower Month
Condos & townhomes in Downtown Vancouver also felt the market slow down in April with a 30% sales ratio, compared to 42% in the previous month. Total new listings increased this month to 828 (751listings in March), however total sales decreased to 252 (317 sales in March).
- Downtown condos & townhomes sold the fastest at 42% sales ratio (285 new listings, 119 sales).
- West End and Yaletown condos & townhomes sold at 27% sales ratio (423 new listings, 113 sales)
Downtown Price Bands That are Selling the Fastest
- $500k – $700k downtown condos and townhomes sold at 53% sales ratio (139 listings, 74 sales)
- $800k – $1M downtown condos and townhomes sold at 49% sales ratio (109 listings, 53 sales)
- $1M – $1.25M downtown condos and townhomes sold at 40% sales ratio (70 listings, 28 sales)
Westside Condo and Townhome Market Brought in Lower Sales Than Last Month
Condo and townhome sales in Vancouver West experienced a decrease in April. Although total sales and sales ratio declined, sales to list price ratio increased to 104% for the market. Multiple neighbourhoods also had a successful month in sales. Kitsilano condos and townhomes brought in the highest sales ratio at 74%. Fairview and false creek condos and townhomes also sold fast at 58% sales ratio. University condos and townhomes brought in a lot of inventory this month with 131 new listings, these condos sold a bit slower than the average, at 33% sales ratio.
$600K – $800K Condos and Townhomes hit Sweet Spot for Westside Sales
Westside condos and townhomes between $600k – $800k sold the fastest this month at a 74% sales ratio (72 new listings, 53 sales). $800k – $1.25M condos and townhomes in the Westside also had a lot of action, selling at a 59% sales ratio (190 new listings, 113 sales).
Get A More Detailed Report On Condos & Townhomes Sales Stats in Vancouver
To obtain a more detailed report of Vancouver real estate sales that further separates condos & townhomes, please contact the Filer & Welch team.
Brought to you by your friendly REALTORS® through the MLS® System, courtesy of Baxter Welch for your convenience.
