Thinking about buying or selling property in Yaletown? Here are some interesting statistics that will help you determine whether or not you want to buy or sell either a condo or a townhome in the Yaletown, Vancouver area.
Yaletown Condominiums Sales Statistics
Real estate in Vancouver is just starting to struggle as it faces what may be a real estate ?bubble?, but despite the drop in housing prices, Yaletown condo prices are still continuing to increase which is good news for sellers, but bad news for buyers.
Sales prices for condos in the Yaletown area are up 11% compared to last May 2012, but if you are on the market to buy, then look for condos priced between the $599,000 and the $899,000 range. These present the best buying opportunity as condos are priced 8.2% less than 1 year ago. The average selling price of a condo in the area is $725,113 with a median selling price of $515,000. Most Yaletown properties took an average of 33 days to sell.
Yaletown Townhome Sales Statistics
Unlike condos, the sales price for townhouses has dropped by an estimated 20% since last year, making these a great opportunity for anyone who is able to get in on the market. Prices on townhouses peaked back in March 2010 and have yet to see a significant increase since.
The amount of condos in the area far outweigh the amount of townhouses, which likely accounts for there being only 4 townhomes sold in May 2012. The average price asked for a townhome was $928,750, and the average time that the townhome was on the market was 25 days.
Asking-Price Comparisons
At the end of June 2012, there were 354 condos listed that had an average asking price of $988,467 and a median asking price of $699,900.
For townhomes, there were 27 listed with an average asking price of $1,869.988 and a median asking price of $1,250,000.
Source: http://www.ateneosanggu.com/real-estate-trends-condos-versus-townhouses-in-yaletown-vancouver-bc/
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