Downtown Vancouver
Sales of attached housing, such as condos & townhomes, in Vancouver has declined 11% in the last month while inventory increased by 10%. It is still a seller’s market with a high inventory, but with fewer homebuyers this ends up driving down competition for many units. Likely as a result of continued economic conditions, condos & townhomes priced between $500,000 to $1,000,000 have been the most popular in Downtown Vancouver.
The number of bedrooms ranges quite broadly. Studios and 1-bedroom condos & townhomes are the most popular, probably corresponding to the lower price range while condos above $1 million see single-digit sales and low sales ratios.
- View 2-bedroom condos & townhouse listings in Downtown Vancouver.
- View 1-bedroom condos & townhomes in Downtown Vancouver.
- View Vancouver’s downtown studios for sale here.
The top-performing neighbourhood in the downtown core was in fact Downtown VW, outperforming Yaletown, West End & Coal Harbour. Click here to view some great condos & townhomes in Downtown VW.
Vancouver West
September was a big month for condos & townhomes in Vancouver West and not in the way you think. Sales of attached residential units declined 33% compared to August. However, the days on market actually decreased by 12%. There’s clearly some complicated factors at play – though that should hardly be a surprise at this point.
The most active price band for condos & townhomes was priced between $600,00 to $1.25 million. There are units priced beyond $1.25 million, but this appears to be the cutoff price for sales in September. The price bracket of $1.25M to $1.5M actually has the most inventory at 118 units, but with a comparatively small 10 sales.
One factor which shows up often in condo & townhome sales is the number of bedrooms. In September, the focus was on studios and 1-bedroom units, with 2-bedroom condos coming up a close second. Although property prices can vary quite widely, this skewed emphasis on “less rather than more” could also account for the specific price range as 1-bedroom Vancouver West condos for sale remain quite popular.
The most popular neighbourhood is Fairview VW, with a sales ratio of 35%. This neighbourhood has both condos available for sale, and townhome listings on the market. Otherwise, University VW and Kitsilano continued to be popular neighbourhoods. University VW had a 27% sales ratio for condos & townhomes, while Kitsilano had a 22% sales ratio. Both of these neighbourhoods have a mix of housing types, but the sales of condos and townhomes continued to perform well since August.
- View University VW condo listings on the market.
- View Kitsilano condos available for sale & townhomes in this waterfront neighbourhood too.
Vancouver East
Compared to Downtown and Vancouver West, the Eastside continues the trend of regional declines. However, Vancouver East’s condos & townhouse sales actually didn’t go down that much. A -9% variance paired with a 25% reduction in days on market, and a sale to list price ratio of 98% – that’s a higher ratio than Vancouver Westside.
Another point is that Vancouver East’s sales ratio was 23%. That total sales ratio is higher than both Westside and Downtown.
The price bracket where most of these homes are being snapped up is between $400K to $900K. Inventory extends from $900K upwards to $1.75M, but the real focus is on the steady double-digit sales in a sub-million dollar price range. And it should make sense as East Vancouver neighbourhoods have more multi-unit residential developments than in the Westside.
Take a look at some condos priced between 400,000 to 900,000 along with some similarly priced Vancouver East townhome listings too.
On the subject of neighbourhoods, Mount Pleasant, South Marine and Collingwood were the top performers in sales volume for Vancouver East. These are areas which have had condo buildings and larger mid-rise developments added to their local housing stock. Mount Pleasant VE led the Eastside in sales volume at 23% of all sales. The neighbourhood is a vibrant area popular with young adults and families starting out, especially given its close proximity to shops, services and so many of Vancouver’s cultural hubs.
- Condos available for sale in Mount Pleasant VE.
- Townhome listings in Vancouver East’s Mount Pleasant neighbourhood.
Overlapping the neighbourhood’s northern edge is the developing area of False Creek Flats, which is the future home of St. Paul’s Hospital.
Mount Pleasant wasn’t the only neighbourhood though. South Marine and Collingwood both performed well in September too. Both of these areas have experienced growth in condos and townhomes following the development of mass transit in the area, allowing residents to rely less on cars for commuting to work.
- View available condo listings in Vancouver’s South Marine (such as at the River District), or townhomes in developments along the Fraser River.
- Condos available in the growing Collingwood VE neighbourhood, and townhomes for sale.
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