New Inventory Dropped Faster Than Sales in Vancouver West Condos & Townhomes
December saw a 31% drop in new inventory, but only a 16% drop in sales, resulting in a 43% sales ratio which was significantly higher than that of November 2021. Net activity was lower than November, with 200 sales (compared to 239) with an average 13 days on market (compared to 12).
Low to High Prices Show High to Low Sales Ratios Movement in Vancouver West
Vancouver Westside (excluding Downtown) condos & townhomes priced below $900k saw a cumulative sales ratio of 81.7%, with the $600k~$700k price band hitting a 100% sales ratio (highest of all price bands in December). 89 units traded hands while 109 were added to the attached homes inventory in Vancouver Westside in December.
Vancouver Westside Condos & Townhomes asking between $900k to $1.5M had a lower (but still very active) 48.2% sales ratio with 80 sales and 166 new listings added, showing similar net sales but with more options to choose from.
For Vancouver Westside condos & townhomes in the $1.5M to $2.75M price range, the sales ratio drops once again to a modest 18.3% with 30 sales amidst 164 new listings added, showing significantly more inventory than the lower price bands. For luxury condos/townhomes in Vancouver Westside priced $2.75M, there was only 1 sale with 24 new units added in December of 2021.
Two Of the Most Popular Westside Hoods Dominated for Attached Homes
Boasting its proximity to the ocean & beaches, the shopping & entertainment, as well as numerous bike paths and public transit, Fairview & Kitsilano condos & townhomes had the most activity in December of 2021 with a total of 77 sales with only 51 listings added resulting in a 151% sales ratio!
Get A More Detailed Report Separating Condos & Townhomes Sales Stats in Vancouver West
To obtain a more detailed report of Vancouver Westside 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.
