new westminster CONDO - AUGUST 2 0 2 4
SALES TO LISTINGS RATIO 22% SELLERS' MARKET
▶ MARKET SUMMARY
AVERAGE PRICE
AVERAGE PSF PRICE ▼ 4% VS 2023
MEDIAN PRICE
TOTAL INVENTORY
SALES
▲ 1.6% VS 2023
▲ 41% VS 2023
▼ 0.4% VS 2023
▼ 15% VS 2023
There were 242 condo listings in New Westminster in August, 3% below July and 41% higher than August 2023. August condo sales decreased by 23% month-over-month, to 53, and were 15% below August 2023. The sales-to-listing ratio for condos in New Westminster, at 22%, reflected a sellers' market. The condo median price in August was $645,000, a 4% increase from July and 0.4% below August 2023. The average sold price was $652,543, 2% above last month; the average PSF sale price was $703, down 4% to last month.
THIS MONTH No.
PREVIOUS MONTH
PREVIOUS YEAR
No.
% Change
No.
% Change
TOTAL INVENTORY TOTAL SALES SALES-LISTINGS RATIO MEDIAN SOLD PRICE AVERAGE SOLD PRICE AVERAGE PRICE PSF
$703 $652,543 $645,000 22% 53 242
$730 $642,112 $647,900 36% 62 172
-4% 1.6% -0.4% -39% -15% 41%
$733 $638,233 $618,000 28% 69 250
-21% -23% -3%
-4% 2% 4%
▶ AVG PRICE PER SQUARE FOOT
▶ RECENT TRENDS
● AUG 2023 ● AUG 2024
● SALES ● TOTAL INVENTORY ● MEDIAN PRICE
232
242
252
250
248
178
173
172
172
189
164
138
130
87
82
73
69
63
59
47
62
77
53
55
41
33
$648K
$645K
$645K
$645K
$640K
$632K
$626K
$618K
$610K
$610K
$599K
$594K
$593K
NEW WESTMINSTER
REBGV
▶ NUMBER OF BEDROOMS
▶ TOTAL LISTINGS & SALES BY PRICE RANGE
SELLERS' MARKET 21% +
BALANCED 12 - 20%
BUYERS' MARKET <12%
● SALES ● TOTAL INVENTORY
● SALES ● TOTAL INVENTORY ● S-L RATIO
60
50
4+ bdrms
2
40
4
3 bdrms
30
23
31%
20
26% 25%
21%
36
19%
18%
2 bdrms
14%
10
148
0
13
<$400K $400K-499K $500K-599K $600K-699K $700K-799K $800K-899K $900K-999K $1.0M+
<2 bdrms
S-L RATIO SALES INVENTORY
11 2 18%
19 5 26%
51 13 25%
48 15 31%
56 12 21%
22 3 14%
16 3 19%
19 0 n/a
69
Copyright © 2024 rennie group of companies. All rights reserved. This material may not be reproduced or distributed, in whole or in part, without the prior written permission of the rennie group of companies. Current as of September 9, 2024. All data from Greater Vancouver REALTORS®, Fraser Valley Real Estate Board, Whistler Listing System, and rennie. While the information and data contained herein has been obtained from sources deemed reliable, accuracy cannot be guaranteed. rennie group of companies does not assume responsibility or liability for any inaccuracies. The recipient of the information should take steps as the recipient may deem necessary to verify the information prior to placing any reliance upon the information. The information contained within this report should not be used as an opinion of value, such opinions should and can be obtained from a rennie and associates advisor. All information is subject to change and any property may be withdrawn from the market at any time without notice or obligation to the recipient from rennie group of companies. E.&O.E. 31 ●
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