Less Net Activity, But Similar Sales Ratios As November
December condo & townhome activity in Downtown Vancouver saw the classic decline of the holiday season. New inventory and transactions reduced by 30% and 38% respectively, netting a 33% sales ratio, which was somewhat lower than the 38% sales ratio seen in November.
A Linear Decline In Absorption Rate from Low to High Price Bands in Downtown Vancouver
Downtown Vancouver Condos priced up to $800k had a net 83.4% sales ratio with most price bands hitting 100%+ sales ratios, with only the $400k~500k range dipping to a 50% sales ratio. There were a total of 96 sales with 115 new units added to the inventory in December of 2021 in this price band.
Downtown vancouver condos & Townhomes priced between $800k to $1.25M saw a far lower 46% sales ratio, with 59 homes selling while 128 were listed. In this price band, there are a handful of Penthouses still available in Downtown Vancouver!
Once we get to Downtown Vancouver listings above $1.25M and below $2.25M the sales ratio drops to a modest 17.5%, with 25 sales and 143 listings added. There were only 5 sales of luxury Downtown Vancouver properties priced $2.5M and higher, while almost 150 new listings were added in this price range.
Downtown & West End Dominate over Coal Harbour & Yaletown
The sales ratios were significantly higher in the Downtown and West End areas of Vancouver, while the trendy Yaletown & Coal Harbour listings moved significantly slower.
- West End led the Downtown Core with a 46% sales ratio
- Downtown followed closely with a 41% sales ratio
- Yaletown was a far 3rd with a 26% sales ratio
- Coal Harbour was the slowest with a 16% sales ratio
Comparing Townhomes & Condos Stats for Downtown Vancouver Sales
To obtain a more detailed report of Downtown Vancouver real estate sales that separates condos & townhomes, please contact the Filer & Welch team. We have in-depth knowledge of the rental market related to investment usage of such properties through our hands-on property management services.
Brought to you by your friendly REALTORS® through the MLS® System, courtesy of Baxter Welch for your convenience.
