Downtown Condo Prices Are Rapidly Increasing

Condos in downtown Vancouver were one of the few to experience a price drop during Covid. While detached homes and townhomes saw double digit price increases, downtown condos actually dropped in price by 14%. Pricing hit bottom in November and have been rapidly increasing ever since, up 7% over just 3 months. Inventory dropped from 1,200 to 700 and listings that sat on the market for months are now seeing multiple offers. We dig into what is cau...