Fairview condo market busy while other neighbourhoods cooling

The Fairview condo market remained active with buyers in April and is currently in a “sellers” market.

How do we know? List to Sales Ratio 

  • A buyer’s market has a 0-12% list to sales ratio
  • A balanced market has a 12-20% list to sales ratio
  • A seller’s market has a 21% or greater list to sales ratio

Fairview real estate in April had a 25% list to sales ratio, resulting from 118 listings and 30 sales. The Mount Pleasant neighbourhood was the most active amongst Westside neighbourhoods last month. 

The BIGGER picture 

Here’s the breakdown for condo’s & town homes on Vancouver’s Westside in April:

Overall a balanced market at 14% list to sales ratio (1.4 out of 10 selling rate)
The most active price range was for homes priced between $400k-$500K with a 43% list to sales ratio.
Homes are selling on average at 6% below list price.
Buyer’s Best Bet: Homes between $2M to $2.25M, Cambie, Oakridge, South Granville & University
Seller’s Best Bet: Selling Homes in Mount Pleasant and up to 1 bedroom properties

In April this year condo and townhouse inventory decreased by 22%,  benchmark prices decreased by 12%, while total sales decreased 3%.

fairview real estate trends

Thinking of buying or selling? Over 10 years of serving clients in the Fairview area

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All stats derived from Dean Wegman & SnapStats.