With sales of 226 Downtown Vancouver condos for the month of January against a total active listing count of 1,380 units, there was 6.11 months supply of condos. At current level of supply and demand, the Downtown Vancouver condo market is relatively stable.
The median price edged up to around $480,000 level, while the average price increased from around $610,000 the previous month to just under $650,000. Although there was a slight increase in active listings, but current active listings at around 1,380 homes, this represents just around 55% recorded during the height of 2,500 homes for sale in June, 2010. At current pace of supply and demand, there is no strong selling or buying pressure to move condo prices up or down.
Buyer activities are relatively stable, and there are a good selection of homes for buyers to choose from. The spike up in average price in January could be due to a shift in more higher priced homes sold for the month. The median price appeared to recover from lower prices in November and December, 2010.
The current supply and demand for Downtown Vancouver condos and apartments ensure a relatively stable market for now. Unless the supply of new listings increased dramatically, the current price stability for Downtown Vancouver condos can be expected to be maintained.