richmond DETACHED - AUGUST 2 0 2 4
SALES TO LISTINGS RATIO 8% BUYERS' MARKET
▶ MARKET SUMMARY
AVERAGE PRICE
MEDIAN PRICE
TOTAL INVENTORY
SALES
▲ 12% VS 2023
▲ 22% VS 2023
▼ 8% VS 2023
▼ 30% VS 2023
There were 561 detached listings in Richmond in August, 4% above July and 22% higher than August 2023. August detached home sales decreased by 25% month-over-month, to 44, and were 30% below August 2023. The sales-to-listing ratio for detached in Richmond, at 8%, reflected a buyers' market.
THIS MONTH No. $2,323,349 $2,175,300 8% 44 561
PREVIOUS MONTH
PREVIOUS YEAR
No.
% Change
No.
% Change
TOTAL INVENTORY TOTAL SALES SALES-LISTINGS RATIO MEDIAN SOLD PRICE AVERAGE SOLD PRICE
$2,526,326 $1,950,000 14% 63 459
-8% 12% -43% -30% 22%
$2,238,787 $2,188,000 11% 59 537
4% -0.6% -29% -25% 4%
The detached median price in August was $2,175,300, a 0.6% decrease from July and 12% above August 2023.
The average sold price was $2,323,349, 4% above last month and down 8% to August 2023.
▶ RATIO OF MEDIAN PRICES
▶ RECENT TRENDS
● DETACHED-TO-TOWNHOME ● TOWNHOME-TO-CONDO
● SALES ● TOTAL INVENTORY ● MEDIAN PRICE
561
512
481
480
537
464
441
508
459
2.01
424
1.83
390
376
368
1.73
1.70
1.64
1.62
86
73
72
68
55
51
40
36
63
44
77
72
59
$2.32M $2.19M
$2.25M
$2.19M $2.18M
$2.09M $2.06M $2.20M
$2.01M
$1.98M $1.91M
$1.95M $1.85M
23-Aug
24-Jul
24-Aug
▶ TOTAL LISTINGS & SALES BY PRICE RANGE
SELLERS' MARKET 21% +
BALANCED 12 - 20%
BUYERS' MARKET <12%
● SALES ● TOTAL INVENTORY ● S-L RATIO
100%
150
100
50
11%
11%
11%
10%
8%
6%
4%
0
<$1M
$1.0M-1.24M $1.25M-1.49M $1.5M-1.99M $2.0M-2.49M $2.5M-2.99M $3.0M-3.99M $4.0M-4.99M $5.0M-5.99M
$6.0M+
S-L RATIO SALES INVENTORY
9 1 11%
1 1 100%
18 2 11%
154 13 8%
103 10 10%
102 11 11%
109 4 4%
35 2 6%
11 0 n/a
19 0 n/a
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. 38 ●
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