Vancouver Condo Market

Vancouver Condo Report March 2017

Steve Saretsky -

Multiple Offers Soar in March as Inventory Falls 17%

Similar to last month (Vancouver Condo Report February 2017) the Vancouver condo has maintained it’s red hot pace. This is largely due to falling inventory, which is down from last years record low. Despite sales plopping nearly 29%, prices are setting new highs in Vancouver.

Vancouver Condo Sales


Vancouver condo sales fell across the board. Vancouver West condo sales fell 33% year over year, while Vancouver East sales fell by 14% when compared to March, 2016. The drop off in sales is likely more a result of record low inventory levels.

New Listings/Inventory Levels

New listings and inventory levels continue to plummet. For Vancouver West new listings fell by 24%, while overall inventory levels also sank by 18%. This is without a doubt the biggest contributor to the overheated condo market. Current inventory levels are at all time lows and it’s not even close. Just see below.

Vancouver Condo Prices

Vancouver condo price per square foot
Vancouver Condo price per square foot.

Click Here to Access Price Per Square Foot


The Vancouver condo market is arguably as hot as it’s ever been. After hitting it’s peak in June, 2016 it cooled down and we saw some downwards pressure on prices during the fall and winter months. Since the calendar rolled over into 2017 the trend has been nothing but up. The sales/active ratio which is a key indicator of demand now sits at 69% (anything above 20% is a sellers market) coupled with falling inventory as sellers hold out has only made conditions even tougher for buyers. I expect this trend to continue through April.

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The Canadian Economy

Steve Saretsky -

Happy Monday Morning! We got a string of new data this past week confirming inflation in consumer goods, and housing are proving to be more than transitory. Canada’s consumer price index continued to drift higher with prices hitting an 18 year high, up 4.7% from last October. The recent floods in BC...

Steve Saretsky -

The calls for impending interest rate hikes continues. CIBC’s chief economist, Benjamin Tal, was out recently suggesting the Bank of Canada could hike its benchmark interest rate at least six times beginning in early 2022. “I think there is a risk of getting into the market at today’s rates,” noted Tal....

Steve Saretsky -

The BC Government announced it is looking at several cooling measures for the housing market in 2022. They have highlighted two measures. The first is an end to the blind bidding process, and the other is a mandatory “cooling off period” which will allow any buyer a 7 day recession...

Steve Saretsky -

The Bank of Canada continues to slowly drain liquidity after flooding the system with a firehose of cash during the pandemic. Bank of Canada governor Tiff Macklem announced the end of Canada’s QE program (also known as money printing). Furthermore, in Macklems words, “We expect to begin increasing our policy...

Steve Saretsky -

Consumer price inflation ripped higher in September, surging 4.4% year-over-year, the fastest pace of price increases in 18 years. Let’s discuss this further. We have an inflation problem and the Bank of Canada remains of the view that inflation will be transitory. Although they really can’t say otherwise, for if...

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The Saretsky Report. December 2022