Vancouver condos in Summer

Vancouver Condo Report July 2017

Steve Saretsky -

Vancouver Condo Prices Continue to Accelerate in July

Vancouver condo prices continued to tick upwards in July. A similar trend if you read the June report.  The average sales price hit $880,197 which is good for an 8% increase year over year. New listings saw a small increase but not enough to help inventory levels which are stuck at historical lows.

Vancouver Condo Sales

Vancouver condo sales fell 2.5% year over year, and for the first time since 2014, sales dipped below the ten year average for the month of July. With that being said sales remain robust and multiple offers continue to ravage desperate buyers.

New Listings/ Inventory Levels

A sigh of relief for all buyers, new listings for Vancouver condos increased 4% year over year and were just slightly shy of the ten year average.

However, the big problem remains ultra low inventory levels. After years of excessive demand it has plunged inventory levels to record lows. With sales hardly slowing, inventory levels have not been able to replenish. The 975 active listings at the end of July, 2017 were the fewest recorded in recent history.

Vancouver Condo Inventory July 2017
Vancouver Condo Inventory falls 14% year over year in July.

Vancouver Condo Prices

The price per square foot for Vancouver condos increased to $996, up 13% year over year.Click HERE to Access Price Per Square Foot By Area

Vancouver condo average price per foot
Average price per square foot- Vancouver Condos

Click Here To Access All Vancouver Condo Prices


The Vancouver condo market remains extremely competitive. Most units are selling in multiple offers, with a plethora of them being subject free. The sales to actives ratio sits at a red hot 56%, although a decent drop from June’s 75%. With inventory still at record lows and sales still trucking along I expect further upwards pressure on prices. However, the market should experience it’s usual cool down in August.

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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 -

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Steve Saretsky -

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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