www.PrincessPan.com VANCOUVER BRITISH COLUMBIA 2023 JUNE
35 60 56 54 76 109 104 87 76 50 50 54 62 64 76 1 0 1 0 5 14 12 11 15 10 6 14 11 14 19 $15,000,000+ $10,000,000 - $14,999,999 $8,000,000 - $9,999,999 $7,000,000 - $7,999,999 $6,000,000 - $6,999,999 $5,000,000 - $5,999,999 $4,500,000 - $4,999,999 $4,000,000 - $4,499,999 $3,700,000 - $3,999,999 $3,500,000 - $3,699,999 $3,300,000 - $3,499,999 $3,100,000 - $3,299,999 $2,900,000 - $3,099,999 $2,700,000 - $2,899,999 $2,500,000 - $2,699,999 Inventory Sales Square Feet3 -RangePrice -Median SoldBeds -Median SoldBaths -Median SoldSold -TotalInventory -TotalSales Ratio -Sold/Inventory0 - 1,999 $2,600,000 3 2 7 62 11% 2,000 - 2,999 $3,175,000 4 3 37 267 14% 3,000 - 3,999 $3,454,400 5 4 40 230 17% 4,000 - 4,999 $4,050,000 6 6 32 188 17% 5,000 - 5,999 $4,427,500 6 7 12 107 11% 6,000+ $5,780,000 5 7 5 155 3% VANCOUVER SINGLE - FAMILY HOMES
INVENTORY VS. SALES
Luxury Benchmark Price 1: $2,500,000 Buyer's Market 1,013 Total Inventory: 133 Total Sales: 13% Total Sales Ratio2: 1 The luxury threshold price is set by The Institute for Luxury Home Marketing. 2Sales Ratio defines market speed and market type: Buyer's < 14.5%; Balanced >= 14.5 to < 20.5%; Seller's >= 20.5% plus. If >100% MLS® data reported previous month’s sales exceeded current inventory.
LUXURY
| MAY 2023
VANCOUVER
SINGLE - FAMILY HOMES
13 - MONTH LUXURY MARKET TREND 4
MEDIAN DATA REVIEW | MAY
TOTAL INVENTORY
May 2022May 2023
1,2881,013
VARIANCE: - 21 %
SALE PRICE PER SQFT.
TOTAL SOLDS
VARIANCE: 9 % 122133
SALE TO LIST PRICE RATIO
VARIANCE: 1 % 97.31% 98.28%
SALES PRICE
VARIANCE: 10 % $3.29m $3.61m
DAYS ON MARKET
119
VARIANCE: - 18 %
VANCOUVER MARKET SUMMARY | MAY 2023
• The Vancouver single-family luxury market is a Buyer's Market with a 13% Sales Ratio.
• Homes sold for a median of 98.28% of list price in May 2023.
• The most active price band is $3,100,000-$3,299,999, where the sales ratio is 26%
• The median luxury sales price for single-family homes is $3,608,800.
• The median days on market for May 2023 was 9 days, down from 11 in May 2022.
3Square foot table does not account for listings and solds where square foot data is not disclosed. 4Data reported includes Active and Sold properties and does not include Pending properties.
Solds Median Sales Price Inventory 1,288 1,249 1,212 1,144 1,187 1,118 989 799 845 868 898 933 1,013 122 87 57 66 59 57 39 25 32 76 98 118 133 $3,294,000 $3,310,000 $3,400,000 $3,259,000 $3,638,800 $3,300,000 $3,299,000 $3,400,000 $3,270,000 $3,404,000 $3,412,500 $3,411,250 $3,608,800 May-22 Jun-22 Jul-22 Aug-22 Sep-22 Oct-22 Nov-22 Dec-22 Jan-23 Feb-23Mar-23Apr-23May-23
VARIANCE: 0 % $1,087 $1,087 May 2022May 2023 May 2022May 2023 May 2022May 2023 May 2022May 2023 May 2022May 2023
13 8 6 9 12 27 48 59 81 112 100 152 85 93 97 0 0 1 1 0 4 2 4 10 26 15 31 21 29 29 $9,000,000+ $7,700,000 - $8,999,999 $6,700,000 - $7,699,999 $5,700,000 - $6,699,999 $4,900,000 - $5,699,999 $4,100,000 - $4,899,999 $3,500,000 - $4,099,999 $2,900,000 - $3,499,999 $2,500,000 - $2,899,999 $2,100,000 - $2,499,999 $1,900,000 - $2,099,999 $1,700,000 - $1,899,999 $1,600,000 - $1,699,999 $1,500,000 - $1,599,999 $1,400,000 - $1,499,999 Inventory Sales
HOMES Square Feet3 -RangePrice -Median SoldBeds -Median SoldBaths -Median SoldSold -TotalInventory -TotalSales Ratio -Sold/Inventory0 - 999 $1,483,800 2 2 6 60 10% 1,000 - 1,499 $1,580,000 2 2 67 405 17% 1,500 - 1,999 $1,850,000 3 3 62 281 22% 2,000 - 2,499 $1,922,500 3 3 20 78 26% 2,500 - 2,999 $2,024,900 3 4 14 42 33% 3,000+ $4,128,000 3 4 3 35 9% LUXURY INVENTORY VS. SALES |
Luxury Benchmark Price 1: $1,400,000 Balanced Market 902 Total Inventory: 173 Total Sales: 19% Total Sales Ratio2: 1 The luxury threshold price is set by The Institute for Luxury Home Marketing. 2Sales Ratio defines market speed and market type: Buyer's < 14.5%; Balanced >= 14.5 to < 20.5%; Seller's >= 20.5% plus. If >100% MLS® data reported previous month’s sales exceeded current inventory.
VANCOUVER ATTACHED
MAY 2023
VANCOUVER ATTACHED HOMES
13 - MONTH LUXURY MARKET TREND 4
MEDIAN DATA REVIEW | MAY
TOTAL INVENTORY TOTAL
VARIANCE: - 7 % 965902
SALE PRICE PER SQFT.
VARIANCE: - 6 % $1,231 $1,153
VARIANCE: 26 % 137173
SALE TO LIST PRICE RATIO
100.00% 98.75%
VARIANCE: - 1 %
SALES PRICE
VARIANCE: - 1 % $1.77m $1.75m
DAYS ON MARKET
812
VARIANCE: 50 %
VANCOUVER MARKET SUMMARY | MAY 2023
• The Vancouver attached luxury market is a Balanced Market with a 19% Sales Ratio.
• Homes sold for a median of 98.75% of list price in May 2023.
• The most active price band is $1,500,000-$1,599,999, where the sales ratio is 31%
• The median luxury sales price for attached homes is $1,750,000.
• The median days on market for May 2023 was 12 days, up from 8 in May 2022.
3Square foot table does not account for listings and solds where square foot data is not disclosed. 4Data reported includes Active and Sold properties and does not include Pending properties.
965 991 999 906 1,018 1,077 1,062 816 788 854 881 931 902 137 111 70 80 56 66 51 28 70 73 111 95 173 $1,768,000 $1,699,000 $1,685,450 $1,769,000 $1,787,500 $1,677,500 $1,790,000 $1,630,000 $1,689,500 $1,713,333 $1,705,000 $1,700,000 $1,750,000 May-22 Jun-22 Jul-22 Aug-22 Sep-22 Oct-22 Nov-22 Dec-22 Jan-23 Feb-23Mar-23Apr-23May-23 Solds Sale Price Inventory
May 2022May 2023 May 2022May 2023 May 2022May 2023 May 2022May
May 2022May 2023 May 2022May 2023
2023
SOLDS
Thank you for taking time to view this report. For more information about Vancouver luxury market and buy or sell your luxury property, please feel free to contact me. PRINCESS PAN PERSONAL REAL ESTATE CORPORATION www. PrincessPan.com
