richmond TOWNHOME - AUGUST 2 0 2 4
SALES TO LISTINGS RATIO 13% BALANCED MARKET
▶ MARKET SUMMARY
AVERAGE PRICE
AVERAGE PSF PRICE ▼ 2% VS 2023
MEDIAN PRICE
TOTAL INVENTORY
SALES
▲ 68% VS 2023
▼ 3% VS 2023
▼ 4% VS 2023
▼ 35% VS 2023
There were 298 townhome listings in Richmond in August, 8% above July and 68% higher than August 2023. August townhome sales decreased by 28% month-over-month, to 39, and were 35% below August 2023. The sales-to-listing ratio for townhomes in Richmond, at 13%, reflected a balanced market. The townhome median price in August was $1,080,000, a 10% decrease from July and 4% below August 2023. The average sold price was $1,085,815, 9% below last month; the average PSF sale price was $773, up 0.8% to last month.
THIS MONTH No. $773 $1,085,815 $1,080,000 13% 39 298
PREVIOUS MONTH
PREVIOUS YEAR
No.
% Change
No.
% Change
TOTAL INVENTORY TOTAL SALES SALES-LISTINGS RATIO MEDIAN SOLD PRICE AVERAGE SOLD PRICE AVERAGE PRICE PSF
$792 $1,119,329 $1,130,000 34% 60 177
-61% -35% 68%
$766 $1,198,624 $1,195,500 19% 54 277
0.8% -9% -10% -33% -28% 8%
-2% -3% -4%
▶ AVG PRICE PER SQUARE FOOT
▶ RECENT TRENDS
● AUG 2023 ● AUG 2024
● SALES ● TOTAL INVENTORY ● MEDIAN PRICE
298
277
218
238
192
190
184
177
187
156
146
145
140
68
56
54
60
43
25
25
60
57
39
55
49
35
$1.19M $1.22M $1.20M $1.15M $1.16M $1.20M $1.20M
$1.13M $1.10M
$1.08M
$1.04M $1.09M $1.10M
RICHMOND
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
100
10
4+ bdrms
80
82
60
21
3 bdrms
185
40
8
23%
20%
19%
2 bdrms
20
29
6%
4%
0
<2 bdrms
<$600K $600K-799K $800K-999K $1.0M-1.24M $1.25M-1.49M $1.5M-1.99M $2.0M-2.49M $2.5M+
2
S-L RATIO SALES INVENTORY
3 0 n/a
10 2 20%
52 12 23%
94 18 19%
87 5 6%
48 2 4%
4 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. 39 ●
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