Downtown: New Condo Product Shows Stable Pricing, but Slowed Sales

A review of resales data for newer condos in Downtown Vancouver (2 years old or less) shows that sales activity has slowed since the beginning of 2012 but pricing has maintained an average around $800 per sq ft.

The vast majority of sales are between $600 and $1,000 per sq ft depending on the building/unit quality and location, with some sales such as units in The Erickson and Fairmon Pacific Rim showing sales values above $2,000 per SF. One can speculate that given a slowdown in sales activity, pricing will be affected eventually, particularly at the lower end of the spectrum where there are competing new developments in presales and/or under construction.

Source: MLS