Downtown Vancouver Condo Market Statistics
March 2021 Statistics
This is all you need to know - March home sales are the highest ever recorded !
The Real Estate Board of Greater Vancouver said in a report Friday March sales were 126% higher than in the same month in 2020.
The board said a total of 5,708 homes were sold last month, compared to 2,524 sales the previous March, when the pandemic was just beginning. The March 2021 number is also 53% higher than the total of homes sold this February (3,727).
Focusing on the Downtown Vancouver condo market in March 2021, there is consistent activity in all price brackets. However, the under $1.5 million sales are incredibly hot.
The under $900,000 market is selling at 85%, 246 out of 291 homes are selling, up 35% from last month.
The $900,000 to $1,000,000 market is selling at 52%, 25 out of 48 homes are selling, up 28% from last month.
The $1,000,000 to $1,250,000 market is selling at 53%, 31 out of 59 homes are selling, up 29% from last month.
The $1,250,000 to $2,000,000 market is selling at 32%, 42 out of 133 homes are selling, up 8% from last month.
The $2,000,000 to $2,500,000 market is selling at 11%, 6 out of 30 homes are selling, down 9% from last month.
The $2,500,000 to $3,000,000 market is selling at 6%, 2 out of 36 homes are selling, down 6% from last month.
The $3,000,000 to $5,000,000 market is selling at 13%, 8 out of 60 homes are selling, up 2% from last month.
The $5,000,000 market is selling at 9%, 4 out of 45 homes are selling, up 7% from last month.
Total unit sales in Downtown Vancouver were up 49% from last month and up 112% from March 2020.
Those who are priced correctly for this market are selling on average at a rate of 12 days, which is the same as last month.
The median price increased 1% from last month, and the median price is up 2% from March 2020.
The average price per square foot increased 1% from $1,029 in February to $1,041 in March.
Our Downtown Vancouver inventory is holding steady with a decrease of 6% as there are presently 712 active listings.
As always, the sellers’ best bets still remain 1 bedroom condos in particular in the Downtown and the West End. And the buyers’ best bets are units priced between $2 and $2.5 million, in particular condos in Coal Harbour and Yaletown
I hope you find this helpful, but should you have any questions please don’t hesitate to ask.
Stay Safe !!!
Everything You Need to Know
The Vancouver Real Estate Market Statistics are available for Downtown, Yaletown, Coal Harbour, and the West End as well as other areas are provide by Ian Watt and SnapStats™. The following is only a sample.
Monthly Market Statistics Report
To request last month's Market Statistics Report, please email firstname.lastname@example.org.