Downtown Vancouver Condo Sales report – December, 2011

January 16, 2012

in downtown Vancouver condos, Vancouver real estate

Downtown Vancouver real estate > Condo sales

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The total condo sales for Downtown Vancouver in December  2011 totaled 262 was about 27% lower than the previous month sale of 360. With total listings just under 1300 units and 3 months average sale around 316 homes, the supply of condos in Downtown Vancouver at 4.11 months of inventory helped to firm up the market in favour of home sellers. You can view condos for sale in Downtown Vancouver using the link here.

Vancouver Downtown condosThe drastic drop in the number of active listings the past 2 months helped to stabilize the condo market in Downtown Vancouver. The average condo price for Downtown Vancouver rebound last month and regained its price to the $630,000 level. However, the median price remained at the $480,000 level.

Market Outlook for Condos in Downtown Vancouver

Buyer activities in Downtown Vancouver in the second half of 2011 were more tampered. There are now a healthy balance of condos in Downtown Vancouver. With the median price for condos in downtown Vancouver around $480,000, home buyers are shopping for more desirable condos in better part of the city.

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For now Vancouver downtown condo market is in balance. You can view condos for sale in Downtown Vancouver using the link here.

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