www.PrincessPan.com VANCOUVER BRITISH COLUMBIA 2023 MAY
31 51 48 47 79 109 92 84 74 42 34 51 54 64 73 1 1 2 2 3 11 8 13 5 9 8 12 7 14 22 $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 $2,910,000 3 2 5 68 7% 2,000 - 2,999 $2,780,000 4 3 39 241 16% 3,000 - 3,999 $3,560,000 5 5 39 218 18% 4,000 - 4,999 $4,280,000 5 6 21 179 12% 5,000 - 5,999 $4,913,000 6 6 9 84 11% 6,000+ $5,400,000 5 7 5 139 4% VANCOUVER SINGLE - FAMILY HOMES
INVENTORY VS. SALES
Luxury Benchmark Price 1: $2,500,000 Buyer's Market 933 Total Inventory: 118 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
| APRIL 2023
VANCOUVER SINGLE - FAMILY HOMES
13 - MONTH LUXURY MARKET TREND 4
MEDIAN DATA REVIEW | APRIL
TOTAL INVENTORY
- 20
SALE
PRICE PER SQFT.
TOTAL SOLDS
- 31 % 171 118
SALE TO LIST PRICE RATIO
VARIANCE: 0 % 98.05% 97.80%
SALES PRICE
2 % $3.35m $3.41m
DAYS ON MARKET
VARIANCE: 33 % 9 12
• The Vancouver single-family luxury market is a Buyer's Market with a 13% Sales Ratio.
• Homes sold for a median of 97.80% of list price in April 2023.
• The most active price band is $2,500,000-$2,699,999, where the sales ratio is 30%
• The median luxury sales price for single-family homes is $3,411,250.
• The median days on market for April 2023 was 12 days, up from 9 in April 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 1,173 1,288 1,249 1,212 1,144 1,187 1,118 989 799 845 868 898 933 171 122 87 57 66 59 57 39 25 32 76 98 118 $3,350,000 $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 Apr-22 May-22 Jun-22 Jul-22 Aug-22 Sep-22 Oct-22 Nov-22 Dec-22 Jan-23 Feb-23 Mar-23 Apr-23
VARIANCE:
% 1,173
Apr. 2022 Apr. 2023
VARIANCE:
VANCOUVER MARKET SUMMARY | APRIL 2023 VARIANCE:
933
Apr. 2022 Apr. 2023 Apr. 2022 Apr. 2023 Apr. 2022 Apr. 2023 Apr. 2022 Apr. 2023 Apr. 2022 Apr. 2023
VARIANCE: - 6 % $1,137 $1,068
18 7 7 9 14 29 42 68 82 126 100 141 93 95 100 0 0 0 0 0 1 2 2 3 12 7 21 18 14 15 $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 $1,507,450 2 2 2 70 3% 1,000 - 1,499 $1,590,000 2 3 37 407 9% 1,500 - 1,999 $1,740,000 3 3 43 287 15% 2,000 - 2,499 $1,845,000 4 4 10 80 13% 2,500 - 2,999 $2,328,571 5 4 1 49 2% 3,000+ $3,954,000 3 4 2 36 6%
INVENTORY VS. SALES
Luxury Benchmark Price 1: $1,400,000 Buyer's Market 931 Total Inventory: 95 Total Sales: 10% 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
LUXURY
| APRIL 2023
VANCOUVER ATTACHED HOMES
13 - MONTH LUXURY MARKET TREND 4
MEDIAN DATA REVIEW | APRIL
TOTAL INVENTORY TOTAL SOLDS
VARIANCE: 10 % 850931
SALE PRICE PER SQFT.
VARIANCE: - 14 % $1,296 $1,116
VARIANCE: - 50 % 19195
SALE TO LIST PRICE RATIO
VARIANCE: 0 % 99.32% 99.33%
SALES PRICE
VARIANCE: - 3 % $1.75m $1.70m
DAYS ON MARKET
VARIANCE: - 18 % 119
VANCOUVER MARKET SUMMARY | APRIL 2023
• The Vancouver attached luxury market is a Buyer's Market with a 10% Sales Ratio.
• Homes sold for a median of 99.33% of list price in April 2023.
• The most active price band is $1,600,000-$1,699,999, where the sales ratio is 19%
• The median luxury sales price for attached homes is $1,700,000.
• The median days on market for April 2023 was 9 days, down from 11 in April 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.
850 965 991 999 906 1,018 1,077 1,062 816 788 854 881 931 191 137 111 70 80 56 66 51 28 70 73 111 95 $1,750,000 $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 Apr-22 May-22 Jun-22Jul-22 Aug-22Sep-22Oct-22 Nov-22 Dec-22 Jan-23 Feb-23Mar-23Apr-23 Solds Sale Price Inventory
Apr. 2022Apr. 2023 Apr. 2022Apr. 2023 Apr. 2022Apr. 2023 Apr. 2022Apr. 2023 Apr. 2022Apr. 2023 Apr. 2022Apr. 2023
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
