
{"id":1235,"date":"2022-11-08T16:44:17","date_gmt":"2022-11-08T21:44:17","guid":{"rendered":"https:\/\/www.filerwelch.com\/blog\/?p=1235"},"modified":"2022-11-08T16:44:17","modified_gmt":"2022-11-08T21:44:17","slug":"condos-townhomes-in-vancouver-downtown-west-east-october-2022-market-update-kitsilano-yaletown-mount-pleasant","status":"publish","type":"post","link":"https:\/\/www.filerwelch.com\/blog\/condos-townhomes-in-vancouver-downtown-west-east-october-2022-market-update-kitsilano-yaletown-mount-pleasant\/","title":{"rendered":"Condos &#038; Townhomes in Vancouver, October 2022 Market Update"},"content":{"rendered":"<p><span style=\"font-weight: 400;\">It\u2019s fair to say nobody can quite predict with absolute certainty what will happen in real estate in 2022. However, it is nice to see the real estate market for condos &amp; townhomes in Vancouver\u2019s three neighbourhood regions &#8211; Downtown, West &amp; East &#8211; has seen a collective uptick last month. This is great news, <\/span><a href=\"https:\/\/www.filerwelch.com\/blog\/vancouver-townhomes-condos-for-sale-september-2022-real-estate-market-update\/\" target=\"_blank\" rel=\"noopener\"><span style=\"font-weight: 400;\">especially after the market\u2019s shifting in September<\/span><\/a><span style=\"font-weight: 400;\">.<\/span><\/p>\n<h3>Downtown<\/h3>\n<p><span style=\"font-weight: 400;\">While Vancouver West &amp; Vancouver East experienced growth in sales, Downtown remained at 127 sales for the month of October 2022. This is a 0% change. While it isn\u2019t growth, it also isn&#8217;t a reduction, even though there was a 1% increase in condo &amp; townhome inventory. On the subject of prices, the Sale to List Price ratio fell only 2%, mirroring the fall in average sale price. However, there is a highlight: the average days on market fell 30%!<\/span><\/p>\n<p><span style=\"font-weight: 400;\">The most active pricebands certainly reflect the change in sale price. First, the priceband of <\/span><a href=\"https:\/\/www.filerwelch.com\/listings\/city-Vancouver+West\/area-Coal+Harbour;Downtown+VW;West+End+VW;Yaletown\/min_price-500000\/max_price-800000\/page-1\" target=\"_blank\" rel=\"noopener\"><span style=\"font-weight: 400;\">homes costing between $500,000 to $800,000<\/span><\/a><span style=\"font-weight: 400;\"> saw broad sales performance. Also, <\/span><a href=\"https:\/\/www.filerwelch.com\/listings\/city-Vancouver+West\/area-Coal+Harbour;Downtown+VW;West+End+VW;Yaletown\/min_price-1000000\/max_price-1500000\/page-1\" target=\"_blank\" rel=\"noopener\"><span style=\"font-weight: 400;\">condos &amp; townhomes priced from $1,000,000 to $1,500,000<\/span><\/a><span style=\"font-weight: 400;\"> was the other most active priceband as most properties above $1.5M saw dwindling sales numbers against increasing inventory counts.<\/span><\/p>\n<p>Just over 90% of units sold during October were <a href=\"https:\/\/www.filerwelch.com\/listings\/city-Vancouver+West\/area-Coal+Harbour;Downtown+VW;West+End+VW;Yaletown\/max_bedroom-2\/page-1\" target=\"_blank\" rel=\"noopener\">condos &amp; townhomes with 2 bedrooms or less<\/a>.<\/p>\n<p><span style=\"font-weight: 400;\">Among downtown Vancouver\u2019s four MLS\u00ae neighbourhoods, the most active one is Downtown VW with a sales ratio of 15%. In terms of the volume of units sold, that translates to 49 sales.\u00a0<\/span><\/p>\n<ul>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><a href=\"https:\/\/www.filerwelch.com\/listings\/city-Vancouver+West\/area-Downtown+VW\/type-Condo\/page-1\" target=\"_blank\" rel=\"noopener\"><span style=\"font-weight: 400;\">View condo MLS\u00ae listings in Downtown VW.<\/span><\/a><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><a href=\"https:\/\/www.filerwelch.com\/listings\/city-Vancouver+West\/area-Downtown+VW\/type-Townhome\/page-1\" target=\"_blank\" rel=\"noopener\"><span style=\"font-weight: 400;\">View Downtown VW townhomes for sale.<\/span><\/a><\/li>\n<\/ul>\n<p><span style=\"font-weight: 400;\">The runner-up in second place is Yaletown. With a 17% sales ratio, Yaletown is a contender for the leader spot, but its 38 total sales relegates the neighbourhood to second place in condo &amp; townhome sales for October.\u00a0<\/span><\/p>\n<ul>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><a href=\"https:\/\/www.filerwelch.com\/listings\/city-Vancouver+West\/area-Yaletown\/type-Condo\/page-1\" target=\"_blank\" rel=\"noopener\"><span style=\"font-weight: 400;\">See the available condos in Yaletown.<\/span><\/a><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><a href=\"https:\/\/www.filerwelch.com\/listings\/city-Vancouver+West\/area-Yaletown\/type-Townhome\/page-1\" target=\"_blank\" rel=\"noopener\"><span style=\"font-weight: 400;\">View townhomes for sale in trendy Yaletown.<\/span><\/a><\/li>\n<\/ul>\n<p><img loading=\"lazy\" decoding=\"async\" class=\"aligncenter size-full wp-image-1226\" src=\"https:\/\/www.filerwelch.com\/blog\/wp-content\/uploads\/2022\/11\/2022_OCT_FW_DWCondos.jpg\" alt=\"\" width=\"750\" height=\"500\" srcset=\"https:\/\/www.filerwelch.com\/blog\/wp-content\/uploads\/2022\/11\/2022_OCT_FW_DWCondos.jpg 750w, https:\/\/www.filerwelch.com\/blog\/wp-content\/uploads\/2022\/11\/2022_OCT_FW_DWCondos-300x200.jpg 300w\" sizes=\"auto, (max-width: 750px) 100vw, 750px\" \/><\/p>\n<h3>Vancouver East<\/h3>\n<p><span style=\"font-weight: 400;\">Overall, Vancouver East led the condos &amp; townhomes market for October 2022. Posting a strong 24% sales ratio, the area saw an increase in sales by 14% alongside an inventory bump of 7%. While sales and inventory went up, the Sale to List Price ratio actually went down by 2% to 96%. That means most properties are selling for an average of 4% under asking.\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400;\">However, the average sale price increased by 5% to $669,000 &#8211; even despite the decline in sale price ratio. <\/span><\/p>\n<p><span style=\"font-weight: 400;\">The most active priceband in Vancouver East during October 2022 was between $500K to $900K. <\/span><a href=\"https:\/\/www.filerwelch.com\/listings\/city-Vancouver+East\/type-Condo\/min_price-500000\/max_price-900000\/page-1\" target=\"_blank\" rel=\"noopener\"><span style=\"font-weight: 400;\">Condos priced between $500,000 to $900,000 proved to be popular<\/span><\/a><span style=\"font-weight: 400;\">, likely in part due to their attainable price point in an economy where interest rates have increased in recent weeks. Similarly priced townhomes were a draw for homebuyers seeking to enter the market too. <\/span><a href=\"https:\/\/www.filerwelch.com\/listings\/city-Vancouver+East\/type-Townhome\/min_price-500000\/max_price-900000\/page-1\" target=\"_blank\" rel=\"noopener\"><span style=\"font-weight: 400;\">View available townhomes for sale in Vancouver East.<\/span><\/a><\/p>\n<p><a href=\"https:\/\/www.filerwelch.com\/listings\/city-Vancouver+East\/type-Condo\/max_bedroom-1\/page-1\" target=\"_blank\" rel=\"noopener\"><span style=\"font-weight: 400;\">Studios and 1-bedroom condos &amp; townhomes in East Vancouver<\/span><\/a><span style=\"font-weight: 400;\"> were the most popular property types during October, with a sales ratio of 33%.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">The most popular neighbourhood among homebuyers of condos &amp; townhomes was Mount Pleasant. This is already an area popular with buyers of condos &amp; townhomes due to the neighbourhood\u2019s vibrant cultural landscape and its proximity to nearby cultural hubs like Main Street. This has been previously noted in previous market updates. Last month, there were 31 property sales in this neighbourhood &#8211; with a peak 37% sales ratio.\u00a0<\/span><\/p>\n<ul>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><a href=\"https:\/\/www.filerwelch.com\/listings\/city-Vancouver+East\/area-Mount+Pleasant+VE\/type-Condo\/page-1\" target=\"_blank\" rel=\"noopener\"><span style=\"font-weight: 400;\">View condos for sale in trendy &amp; vibrant Mount Pleasant VE<\/span><\/a><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><a href=\"https:\/\/www.filerwelch.com\/listings\/city-Vancouver+East\/area-Mount+Pleasant+VE\/type-Townhome\/page-1\" target=\"_blank\" rel=\"noopener\"><span style=\"font-weight: 400;\">Consider townhomes in Mount Pleasant VE<\/span><\/a><\/li>\n<\/ul>\n<p><span style=\"font-weight: 400;\">Another popular neighbourhood is Collingwood VE. This is somewhat surprising since most of the Collingwood neighbourhood is single-family homes, but multi-unit residential developments have been springing up along the major transit corridors in the neighbourhood. 23 sales as a 21% sales ratio.<\/span><\/p>\n<ul>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><a href=\"https:\/\/www.filerwelch.com\/listings\/city-Vancouver+East\/area-Collingwood+VE\/type-Condo\/page-1\" target=\"_blank\" rel=\"noopener\"><span style=\"font-weight: 400;\">Collingwood condo listings are available<\/span><\/a><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><a href=\"https:\/\/www.filerwelch.com\/listings\/city-Vancouver+East\/area-Collingwood+VE\/type-Townhome\/page-1\" target=\"_blank\" rel=\"noopener\"><span style=\"font-weight: 400;\">Townhomes in Collingwood VE are available for sale<\/span><\/a><\/li>\n<\/ul>\n<p><span style=\"font-weight: 400;\">Grandview-Woodland. Despite the name, the most recognizable landmark is that of Commercial Drive. This is an area popular with young adults, and longtime Vancouver residents seeking to downsize into a familiar neighbourhood. The neighbourhood saw 11 total sales for condos &amp; townhomes last month.<\/span><\/p>\n<ul>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><a href=\"https:\/\/www.filerwelch.com\/listings\/city-Vancouver+East\/area-Grandview+Woodland\/type-Condo\/page-1\" target=\"_blank\" rel=\"noopener\"><span style=\"font-weight: 400;\">View available condos in Grandview-Woodland<\/span><\/a><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><a href=\"https:\/\/www.filerwelch.com\/listings\/city-Vancouver+East\/area-Grandview+Woodland\/type-Townhome\/page-1\" target=\"_blank\" rel=\"noopener\"><span style=\"font-weight: 400;\">Grandview-Woodland townhomes for sale<\/span><\/a><\/li>\n<\/ul>\n<p><img loading=\"lazy\" decoding=\"async\" class=\"aligncenter size-full wp-image-1227\" src=\"https:\/\/www.filerwelch.com\/blog\/wp-content\/uploads\/2022\/11\/2022_OCT_FW_VECondos.jpg\" alt=\"\" width=\"750\" height=\"500\" srcset=\"https:\/\/www.filerwelch.com\/blog\/wp-content\/uploads\/2022\/11\/2022_OCT_FW_VECondos.jpg 750w, https:\/\/www.filerwelch.com\/blog\/wp-content\/uploads\/2022\/11\/2022_OCT_FW_VECondos-300x200.jpg 300w\" sizes=\"auto, (max-width: 750px) 100vw, 750px\" \/><\/p>\n<h3>Vancouver West<\/h3>\n<p><span style=\"font-weight: 400;\">Vancouver West commanded a decent increase in sales of 18% during the last month &#8211; a total of 134 sales. This gave the region an overall sales ratio of 19%. The average sale price also increased, rising 3% to $941,000.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">Homes priced below and above 1 million dollars sold very well during the month of October. Condos &amp; townhomes priced from $500,000 to $900,000 sold very well during October. Commanding a combined sales ratio of 23%, condos &amp; townhomes costing from $1M to $1.5M rounded out the upper reach of popular home sales. Properties priced in excess of $1.5 million sold very few units compared to the larger amount in inventory.\u00a0<\/span><\/p>\n<ul>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><a href=\"https:\/\/www.filerwelch.com\/listings\/city-Vancouver+West\/area-Arbutus;Cambie;Dunbar;Fairview+VW;False+Creek;Kerrisdale;Kitsilano;MacKenzie+Heights;Marpole;Mount+Pleasant+VW;Oakridge+VW;Point+Grey;Quilchena;S.W.+Marine;Shaughnessy;South+Cambie;South+Granville;Southlands;University+VW\/type-Condo\/min_price-500000\/max_price-900000\/page-1\"><span style=\"font-weight: 400;\">View condos priced between $500,000 to $900,000<\/span><\/a><span style=\"font-weight: 400;\"> &#8211; and <\/span><a href=\"https:\/\/www.filerwelch.com\/listings\/city-Vancouver+West\/area-Arbutus;Cambie;Dunbar;Fairview+VW;False+Creek;Kerrisdale;Kitsilano;MacKenzie+Heights;Marpole;Mount+Pleasant+VW;Oakridge+VW;Point+Grey;Quilchena;S.W.+Marine;Shaughnessy;South+Cambie;South+Granville;Southlands;University+VW\/type-Townhome\/min_price-500000\/max_price-900000\/page-1\"><span style=\"font-weight: 400;\">townhomes in this attainable price range<\/span><\/a><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\">Browse MLS listings for <a href=\"https:\/\/www.filerwelch.com\/listings\/city-Vancouver+West\/area-Arbutus;Cambie;Dunbar;Fairview+VW;False+Creek;Kerrisdale;Kitsilano;MacKenzie+Heights;Marpole;Mount+Pleasant+VW;Oakridge+VW;Point+Grey;Quilchena;S.W.+Marine;Shaughnessy;South+Cambie;South+Granville;Southlands;University+VW\/type-Condo\/min_price-1000000\/max_price-1500000\/page-1\">condos costing $1M to $1.5M<\/a> along with <a href=\"https:\/\/www.filerwelch.com\/listings\/city-Vancouver+West\/area-Arbutus;Cambie;Dunbar;Fairview+VW;False+Creek;Kerrisdale;Kitsilano;MacKenzie+Heights;Marpole;Mount+Pleasant+VW;Oakridge+VW;Point+Grey;Quilchena;S.W.+Marine;Shaughnessy;South+Cambie;South+Granville;Southlands;University+VW\/type-Townhome\/min_price-1000000\/max_price-1500000\/page-1\">townhome units for sale<\/a>.<\/li>\n<\/ul>\n<p><span style=\"font-weight: 400;\">An odd trend in condos and townhomes is how 2-bedroom properties make up almost 50% of total sales in Vancouver\u2019s Westside. That\u2019s 71 out of 134 sales. This clearly demonstrates a preference among homebuyers to go beyond studio or 1-bedroom homes, but still keeping things affordable compared to 3 bedrooms or more.\u00a0<\/span><\/p>\n<ul>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><a href=\"https:\/\/www.filerwelch.com\/listings\/city-Vancouver+West\/area-Arbutus;Cambie;Dunbar;Fairview+VW;False+Creek;Kerrisdale;Kitsilano;MacKenzie+Heights;Marpole;Mount+Pleasant+VW;Oakridge+VW;Point+Grey;Quilchena;S.W.+Marine;Shaughnessy;South+Cambie;South+Granville;Southlands;University+VW\/type-Condo\/bedroom-2\/page-1\" target=\"_blank\" rel=\"noopener\"><span style=\"font-weight: 400;\">View available 2-bedroom condo listings here<\/span><\/a><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><a href=\"https:\/\/www.filerwelch.com\/listings\/city-Vancouver+West\/area-Arbutus;Cambie;Dunbar;Fairview+VW;False+Creek;Kerrisdale;Kitsilano;MacKenzie+Heights;Marpole;Mount+Pleasant+VW;Oakridge+VW;Point+Grey;Quilchena;S.W.+Marine;Shaughnessy;South+Cambie;South+Granville;Southlands;University+VW\/type-Townhome\/bedroom-2\/page-1\" target=\"_blank\" rel=\"noopener\"><span style=\"font-weight: 400;\">2-bedroom townhomes are available on MLS\u00ae<\/span><\/a><\/li>\n<\/ul>\n<p><span style=\"font-weight: 400;\">Last month\u2019s neighbourhood-by-neighbourhood performance is certainly memorable, if not for Kitsilano having a 40% sales ratio for the month and leading the Vancouver Westside in total sales at 35 properties sold. Even as summer sun turns to autumnal rain, Kitsilano still reigns supreme. View <a href=\"https:\/\/www.filerwelch.com\/listings\/city-Vancouver+West\/area-Kitsilano\/type-Condo\/page-1\" target=\"_blank\" rel=\"noopener\">condos for sale in the popular beachside Kitsilano neighbourhood<\/a>, and <a href=\"https:\/\/www.filerwelch.com\/listings\/city-Vancouver+West\/area-Kitsilano\/type-Townhome\/page-1\" target=\"_blank\" rel=\"noopener\">townhome listings available on MLS\u00ae<\/a>.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">Second place goes to the popular Fairview neighbourhood. Even through ups and downs, this neighbourhood in Vancouver West has been a popular place for attached homes. Potential homebuyers should give serious consideration to <\/span><a href=\"https:\/\/www.filerwelch.com\/listings\/city-Vancouver+West\/area-Fairview+VW\/type-Condo\/page-1\" target=\"_blank\" rel=\"noopener\"><span style=\"font-weight: 400;\">condos available for sale<\/span><\/a><span style=\"font-weight: 400;\">, or <\/span><a href=\"https:\/\/www.filerwelch.com\/listings\/city-Vancouver+West\/area-Fairview+VW\/type-Townhome\/page-1\" target=\"_blank\" rel=\"noopener\"><span style=\"font-weight: 400;\">townhome listings in this longtime favourite of a neighbourhood<\/span><\/a><span style=\"font-weight: 400;\">.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">Finally, in a close third is University VW with 21 sales, yielding a 22% sales ratio. Interested in living in the University neighbourhood? <\/span><a href=\"https:\/\/www.filerwelch.com\/listings\/city-Vancouver+West\/area-University+VW\/type-Condo\/page-1\" target=\"_blank\" rel=\"noopener\"><span style=\"font-weight: 400;\">View available condos in the area here<\/span><\/a><span style=\"font-weight: 400;\">, or take a look at <\/span><a href=\"https:\/\/www.filerwelch.com\/listings\/city-Vancouver+West\/area-University+VW\/type-Townhome\/page-1\" target=\"_blank\" rel=\"noopener\"><span style=\"font-weight: 400;\">townhome listings for sale<\/span><\/a><span style=\"font-weight: 400;\">. <\/span><\/p>\n<p><img loading=\"lazy\" decoding=\"async\" class=\"aligncenter size-full wp-image-1228\" src=\"https:\/\/www.filerwelch.com\/blog\/wp-content\/uploads\/2022\/11\/2022_OCT_FW_VWCondos.jpg\" alt=\"\" width=\"750\" height=\"500\" srcset=\"https:\/\/www.filerwelch.com\/blog\/wp-content\/uploads\/2022\/11\/2022_OCT_FW_VWCondos.jpg 750w, https:\/\/www.filerwelch.com\/blog\/wp-content\/uploads\/2022\/11\/2022_OCT_FW_VWCondos-300x200.jpg 300w\" sizes=\"auto, (max-width: 750px) 100vw, 750px\" \/><\/p>\n","protected":false},"excerpt":{"rendered":"<p>It\u2019s fair to say nobody can quite predict with absolute certainty what will happen in real estate in 2022. However, it is nice to see the real estate market for &hellip; [<a href=\"https:\/\/www.filerwelch.com\/blog\/condos-townhomes-in-vancouver-downtown-west-east-october-2022-market-update-kitsilano-yaletown-mount-pleasant\/\">read more<\/a>]<\/p>\n","protected":false},"author":2,"featured_media":1227,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[31],"tags":[46,146,209,289,202,173,210,58,74,7,39,109],"class_list":["post-1235","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-real-estate-statistics","tag-apartments","tag-attached","tag-collingwood","tag-condos-for-sale","tag-downtown","tag-fairview","tag-grandview-woodland","tag-kitsilano","tag-mount-pleasant","tag-real-estate","tag-townhomes","tag-yaletown","has-post-video"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.4 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>Condos &amp; Townhomes in Vancouver, October 2022 Market Update<\/title>\n<meta name=\"description\" content=\"Market update for October 2022 - an examination of condo &amp; townhome sales in Vancouver&#039;s Downtown, Westside &amp; Eastside.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.filerwelch.com\/blog\/condos-townhomes-in-vancouver-downtown-west-east-october-2022-market-update-kitsilano-yaletown-mount-pleasant\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Condos &amp; Townhomes in Vancouver, October 2022 Market Update\" \/>\n<meta property=\"og:description\" content=\"Market update for October 2022 - an examination of condo &amp; townhome sales in Vancouver&#039;s Downtown, Westside &amp; Eastside.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.filerwelch.com\/blog\/condos-townhomes-in-vancouver-downtown-west-east-october-2022-market-update-kitsilano-yaletown-mount-pleasant\/\" \/>\n<meta property=\"og:site_name\" content=\"Filer &amp; 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