vancouver region DETACHED - AUGUST 2 0 2 4
SALES TO LISTINGS RATIO 10% BUYERS' MARKET
▶ MARKET SUMMARY
AVERAGE PRICE
MEDIAN PRICE
TOTAL INVENTORY
SALES
▲ 31% VS 2023
▼ 7% VS 2023
▼ 3% VS 2023
▼ 10% VS 2023
There were 9,127 detached listings in the Vancouver Region in August, 1.4% below July and 31% higher than August 2023. August detached home sales decreased by 18% month-over-month, to 893, and were 10% below August 2023. The sales-to-listing ratio for detached in the Vancouver Region, at 10%, reflected a buyers' market.
THIS MONTH No. $1,920,306 $1,650,000 10% 893 9,127
PREVIOUS MONTH
PREVIOUS YEAR
No.
% Change
No.
% Change
TOTAL INVENTORY TOTAL SALES SALES-LISTINGS RATIO MEDIAN SOLD PRICE AVERAGE SOLD PRICE
$2,060,471 $1,695,000 14% 993 6,946
-32% -10% 31%
1,087 9,253
-1.7% -3% -17% -18% -1.4%
The detached median price in August was $1,650,000, a 3% decrease from July and 3% below August 2023.
$1,954,086 $1,700,000 12%
The average sold price was $1,920,306, 1.7% below last month and down 7% to August 2023.
-7% -3%
▶ RATIO OF MEDIAN PRICES
▶ RECENT TRENDS
● DETACHED-TO-TOWNHOME ● TOWNHOME-TO-CONDO
● SALES ● TOTAL INVENTORY ● MEDIAN PRICE
8,533
9,127
9,253
9,015
7,806
7,562
7,489
6,863
1.88
1.86
1.86
6,946
6,455
5,746
5,565
5,160
1.41
1.37
1.37
1,391
1,291
1,087
983
910
809
712
650
993
893
1,155
1,100
903
$1.73M $1.72M $1.70M $1.70M $1.65M
$1.70M $1.71M $1.73M
$1.61M $1.53M
$1.60M $1.66M $1.69M
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
2,000
1,500
1,000
20%
16%
14%
500
11%
11%
7%
6%
4%
2%
2%
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
480 69 14%
540 107 20%
1,109 175 16%
2,260 248 11%
1,277 136 11%
1,012 70 7%
1,081 43 4%
525 30 6%
295 5 2%
548 10 2%
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. 5 ●
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