“Location, location, location!” they say, and indeed convenience and accessibility is a major factor in making moves in real estate. Downtown Vancouver has always been a sought after market for condos & townhomes, of course. The expansion of the Canada Line Skytrain that connected YVR to Downtown Vancouver in 2009, and the upcoming Skytrain expansion that will connect UBC to East Vancouver are making more neighbourhoods across Vancouver convenient places to call home, or invest in.
Downtown Vancouver Wasn’t The Star For Condos & Townhomes
For attached homes (condos, lofts, penthouses & townhomes) this gain in popularity across different neighbourhoods across Vancouver was evident in October of 2021. While Downtown Vancouver units moved at a healthy 23% sales ratio, condos & townhomes in Vancouver neighbourhoods outside of the Downtown peninsula moved at a much faster 35%.
Over Asking vs Under Asking Prices for Condos/Townhomes in Vancouver
Attached homes outside of Downtown were going for 3% over asking, whereas Downtown Vancouver ones went for 1% below asking. Coal Harbour was the most stagnant of all, with a 14% sales ratio (21 sold with 150 added to inventory), while Downtown VW moved at 28%, with The West End & Yaletown trailing at 24% and 22%, respectively.
Popular Price Bands for Downtown Vancouver Condos & Townhomes
Some price bands moved at above 50% sales ratio in Downtown Vancouver, however. The luxury listing priced over $3M saw only 5 sales, while almost 150 sales were logged for units between $500k to $1M. Here are the top 5 price bands with at least 10 sales per:
- Downtown Vancouver Homes Priced $500k~$600k (51% sales ratio)
- Downtown Vancouver Homes Priced $700k~$800k (46% sales ratio)
- Downtown Vancouver Homes Priced $600k~$700k (43% sales ratio)
- Downtown Vancouver Homes Priced $800k~$900k (42% sales ratio)
- Downtown Vancouver Homes Priced $900k~$1m (28% sales ratio)
Downtown Vancouver condos priced $300k~$400k moved at 75% ratio, but only 3 units moved with 4 listings added, and was not included in the above list as the sample size is too small to add a lot of significance.
Popular Price Bands for Vancouver Condos & Townhomes Outside Downtown
Condos, lofts, penthouses and townhomes outside of Downtown had an even busier month in October. For non-Downtown Vancouver listings priced $500k to $1.5m (the most active price bands) there were well over 210 units trading hands. The 5 most popular price bands with at least 10 sales were:
- Westside Condos & Townhomes Priced $500k~$600k (71% sales ratio)
- Westside Condos & Townhomes Priced $800k~$900k (59% sales ratio)
- Westside Condos & Townhomes Priced $1.25m~$1.5m (52% sales ratio)
- Westside Condos & Townhomes Priced $600k~$700k (48% sales ratio)
- Westside Condos & Townhomes Priced $700k~$800k (45% sales ratio)
Non-Downtown Vancouver condos priced $400k~$500k sold extremely well at 88% ratio, albeit only seeing 7 units moved with 8 listings, also becoming a small volume outlier segment.
Want to see which Vancouver condos sold, and for how much, in October?
To get a detailed report on attached listings sold across Downtown Vancouver and other areas of Downtown, please contact Ken & Samantha now.