If you’re shopping around $1.3M in Downtown Vancouver, you’ll keep facing the same choice: a large 2-bedroom, or a compact 3-bedroom of about the same size. On paper they look almost identical. They cost about the same, they’re about the same size, and they carry about the same strata fee. However, they behave very differently once you own them, and right now one of them is noticeably cheaper to buy. Here’s how the 3-bedroom vs 2-bedroom condo decision actually plays out, based on two years of downtown sales.
Data: MLS® apartment/condo sales in Yaletown, Downtown and Coal Harbour from October 1, 2024 to September 22, 2026, plus active listings at the start of October 2026. “Compact 3-bedroom” means under 1,300 sq ft. “Large 2-bedroom” means 1,100–1,300 sq ft. Source: Greater Vancouver REALTORS® MLS®.
Key Takeaways
- They cost almost exactly the same. The median compact 3-bedroom sold for $1,350,000 ($1,097/sq ft), and the median large 2-bedroom sold for $1,320,000 ($1,112/sq ft).
- The third bedroom comes cheap. That works out to $450,000 per bedroom for the 3-bedroom versus $660,000 for the 2-bedroom.
- Compact 3-bedrooms are much rarer. There were 34 sales in two years, compared with 217 large 2-bedrooms, about 1 for every 6.
- But they sell more slowly. Median days on market was 36 for small 3-bedrooms versus 27 for large 2-bedrooms. In the last 12 months, it was 48 days versus 31.
- Right now, compact 3-bedrooms are listed for less. The median asking price is $1,069/sq ft, compared with $1,172/sq ft for large 2-bedrooms.
- In the same building, the 3-bedroom usually costs a little more. Across 12 buildings with both types sold, the small 3-bedroom went for a median 5% more per sq ft.
Small 3-bedroom vs. large 2-bedroom condos in Downtown Vancouver. Source: Greater Vancouver REALTORS® MLS®, Oct 2024–Sep 2026.
Small 3-bedroom vs. large 2-bedroom condos in Downtown Vancouver: price per bedroom, $/sq ft and days on market.
3-bedroom vs 2-bedroom condo: the head-to-head numbers
Sold, October 2024–September 2026
| Compact 3-bedroom (under 1,300 sq ft) | Large 2-bedroom (1,100–1,300 sq ft) | |
|---|---|---|
| Sales | 34 | 217 |
| Median sold price | $1,350,000 | $1,320,000 |
| Median size | 1,168 sq ft | 1,185 sq ft |
| Median $/sq ft | $1,097 | $1,112 |
| Price per bedroom | $450,000 | $660,000 |
| Median strata fee | $903/mo | $911/mo |
| Median bathrooms | 2 | 2 |
| 2+ parking stalls | 35% | 36% |
| Median year built | 1999 | 2003 |
| Median days on market | 36 | 27 |
| Median sold-to-list | 96.5% | 96.6% |
The two are close to identical on almost every line. As a result, the decision comes down to how you’ll use the space and how easily you’ll be able to sell it later.
Why the price per sq ft is the same
You might expect the extra bedroom to cost more, and inside a single building it usually does. However, across the whole market, the small 3-bedrooms that sold were in slightly older buildings (median 1999 vs. 2003). Many are 1990s towers, such as 930 Cambie Street, 1009 Expo Boulevard and 183 Keefer Place, where $/sq ft runs lower. That pulls the 3-bedroom median down to match the 2-bedroom.
Same building, both types sold (October 2024–September 2026)
| Building | Small 3-bed $/sq ft | Large 2-bed $/sq ft | Difference |
|---|---|---|---|
| 1201 Marinaside Crescent | $1,275 (2 sales) | $967 (2 sales) | +32% |
| 1050 Burrard Street | $1,095 (2) | $898 (3) | +22% |
| 1328 W Pender Street | $1,095 (1) | $935 (2) | +17% |
| 8 Smithe Mews | $1,419 (1) | $1,224 (4) | +16% |
| 1318 Homer Street | $1,136 (1) | $1,043 (2) | +9% |
| 1067 Marinaside Crescent | $1,244 (1) | $1,156 (2) | +8% |
| 930 Cambie Street | $717 (3) | $697 (1) | +3% |
| 199 Drake Street | $1,150 (1) | $1,154 (1) | 0% |
| 183 Keefer Place | $811 (1) | $845 (1) | −4% |
| 777 Richards Street | $947 (1) | $1,001 (2) | −5% |
| 1323 Homer Street | $947 (1) | $1,046 (2) | −10% |
| 788 Richards Street | $1,018 (1) | $1,148 (1) | −11% |
In 7 of these 12 buildings, the small 3-bedroom sold for more per sq ft, and the median difference was about 5%. That said, most buildings had only one or two sales of each type, so floor, view and condition matter as much as bedroom count. In short, buyers usually pay a modest premium for the third bedroom within a building, but not a large one.
Rarer, but slower to sell
There were about 6 large 2-bedroom sales for every small 3-bedroom sale. You might expect scarcity to make small 3-bedrooms sell faster. In fact, the opposite is true.
| Small 3-bedroom | Large 2-bedroom | |
|---|---|---|
| Median days on market, Oct 2024–Sep 2025 | 31 | 25 |
| Median days on market, Oct 2025–Sep 2026 | 48 | 31 |
| Active listings now | 19 | 64 |
| Sales, last 12 months | 15 | 110 |
| Months of inventory | 15.2 | 7.0 |
The reason is the buyer pool. A large 2-bedroom suits couples, downsizers, investors and young families. By contrast, a small 3-bedroom mainly suits buyers who specifically need three bedrooms on a $1.3M budget. Fewer buyers means slower sales, even with less supply.
Where the opportunity is right now
| Active listings | Compact 3-bedroom | Large 2-bedroom |
|---|---|---|
| Listings | 19 | 64 |
| Median asking price | $1,188,000 | $1,398,000 |
| Median asking $/sq ft | $1,069 | $1,172 |
| Median days listed | 58 | 40 |
| Asking under $1.2M | 11 | 21 |
For buyers, that’s a rare window: more bedrooms, for less money per sq ft, with room to negotiate. Notable small 3-bedrooms currently for sale include 804 – 950 Cambie Street ($899,900, 1,121 sq ft), 605 – 1228 Marinaside Crescent ($1,199,800, 1,122 sq ft) and 2607 – 1111 Richards Street ($1,700,000, 1,265 sq ft).
Coming Monday, October 5: my listing at #1610 – 1111 Richards Street (8X on the Park) is a 1,275 sq ft three-bedroom with two balconies, listed at $1,599,000 ($1,254/sq ft). 8X has been the most active building for small 3-bedrooms, with 5 of the 34 sales. For the full 8X sales history, see How Rare Are 3-Bedroom Condos in Downtown Vancouver?
3-bedroom vs 2-bedroom condo: which should you buy?
Choose the compact 3-bedroom if:
- You need three separate rooms now: children, a dedicated office, or a guest room.
- You plan to stay five years or more, so a slower resale matters less.
- You want the best price per bedroom downtown ($450,000 vs. $660,000).
Choose the large 2-bedroom if:
- You value a bigger living room and larger bedrooms over a third door. At about the same total size, the 3-bedroom splits the space into smaller rooms.
- You may sell within a few years, since the buyer pool is much larger and sales are faster (27 vs. 36 days).
- You’re buying as an investment and want the broadest resale and rental market.
For Buyers
- Small 3-bedrooms are the better deal right now. They’re listed at a median $1,069/sq ft versus $1,172 for large 2-bedrooms, and 8 of the 19 have been on the market for 60+ days.
- Compare within the building. Market-wide medians mix older and newer towers. Instead, judge any listing against recent sales of both types in the same building.
- Check the floor plan, not just the bedroom count. In about 1,170 sq ft, a third bedroom usually means a smaller living area or tighter bedrooms. Ask for the plan before you book a showing.
For Sellers
- If you own a small 3-bedroom, price for a smaller buyer pool. With 15.2 months of inventory, the first two weeks matter. A realistic price and a clear floor plan do more than waiting for the “right” buyer.
- Market the third bedroom specifically. Your buyer is a family, a remote worker or someone who needs a guest room. Show the third room furnished for that use.
- If you own a large 2-bedroom, you have the easier sale. With 7 months of inventory and a median 27 days on market, demand is broader and steadier.
FAQ
Is a small 3-bedroom condo better value than a large 2-bedroom in Downtown Vancouver? Per bedroom, yes. Small 3-bedrooms sold for a median $450,000 per bedroom, compared with $660,000 for large 2-bedrooms of a similar size. Per sq ft, they’re about the same ($1,097 vs. $1,112).
How much does a small 3-bedroom condo cost downtown? The median small 3-bedroom (under 1,300 sq ft) sold for $1,350,000 between October 2024 and September 2026. Most sold between about $980,000 and $1.54M.
Are strata fees higher on a 3-bedroom? Not at the same size. The median strata fee was $903/month for small 3-bedrooms and $911/month for large 2-bedrooms.
Deciding between the two?
I’ve specialized in Yaletown and downtown Vancouver condos since 2016. If you’re weighing a 3-bedroom against a 2-bedroom, I’ll pull the comparable sales for the buildings you’re considering and walk you through the floor plans.
Yuliya Lys, PREC · The Partners Real Estate Call or text 604-500-5838 · yuliya@yuliyalys.com Instagram: @yuliyalys.realestate
Data from Greater Vancouver REALTORS® MLS®, believed accurate but not guaranteed. Sold figures cover October 1, 2024 to September 22, 2026. Active listings as of early October 2026; #1610 – 1111 Richards Street is not included in active-listing counts. For regional market trends, see the Greater Vancouver REALTORS® monthly market reports.
