The sales of condos and townhomes in Vancouver continued to cool in the month of June. As the interest rates rise, the total sales decreased 22% from the previous month. Here is a breakdown of the sales for Westside, Eastside and Downtown Vancouver condos and townhomes.
Downtown Vancouver Condos and Townhomes Sales Decline
Inventory for condos & townhomes in downtown Vancouver for the month of June stayed high with a total of 915 listings. Despite the high inventory, the rate of sales was lower this month than the previous with 188 total sales and a sales ratio of 21%.
This month, the downtown Vancouver condos and townhomes in the $500k – $900k range stayed steady with 106 total sales and a sales ratio of 38%.
Vancouver Westside Condos and Townhomes Also Cool Down
The month of June 2022 saw the total amount of sales slow down as well for Vancouver Westside condos and townhomes. There were 186 solds which is 33% less than May’s total of 264 solds. The overall sales ratio was 24%. There was a lot of action in the $600k – $1.5M range. Condos and townhomes between $600k-$700k sold over half the inventory this month with a sales ratio of 51%. Additionally, Condos and townhomes between $1M-$1.25M sold the most inventory with 35 units sold.
The most popular neighbourhoods were Fairview (36 units sold), Kitsilano (36 units sold), University (33 units sold), and Falsecreek (27 units sold).
Vancouver Eastside Condos and Townhomes – Still Lots of Inventory
Condos and townhomes in Vancouver Eastside carried forward a lot of the previous month’s inventory. With only a fluctuation of 2%, there were 469 condos and townhomes units available. The average days on the market was 8 days. Condos and townhomes in Vancouver Eastside between $400k-$800k were the most popular this month with a sales ratio of 49%. The next favoured price bends were:
- Condos and townhomes in Vancouver eastside between $800k-$900K: sales ratio of 34%
- Condos and townhomes in Vancouver eastside between $1M-$1.25M: sales ratio of 36%
- Condos and townhomes in Vancouver eastside between $1.75M -$2M: sales ration of 33%
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To obtain a more detailed report of Vancouver real estate sales and listings, please contact the Filer & Welch team
