vancouver region TOWNHOME - AUGUST 2 0 2 4
SALES TO LISTINGS RATIO 18% BALANCED MARKET
▶ MARKET SUMMARY
AVERAGE PRICE
AVERAGE PSF PRICE ▼ 4% VS 2023
MEDIAN PRICE
TOTAL INVENTORY
SALES
▲ 58% VS 2023
▼ 1.6% VS 2023
▼ 1.7% VS 2023
▼ 18% VS 2023
There were 2,963 townhome listings in the Vancouver Region in August, 1.9% below July and 58% higher than August 2023. August townhome sales decreased by 23% month-over-month, to 547, and were 18% below August 2023. The sales-to-listing ratio for townhomes in the Vancouver Region, at 18%, reflected a balanced market. The townhome median price in August was $885,000, a 3% decrease from July and 1.7% below August 2023. The average sold price was $971,750, 2% below last month; the average PSF sale price was $643, down 1.8% 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
$643 $971,750 $885,000 18% 547 2,963
$671 $987,117 $900,000 36% 668 1,879
-4% -1.6% -1.7% -48% -18% 58%
$655 $995,047 $915,000 24% 713 3,020
-1.8% -2% -3% -22% -23% -1.9%
▶ AVG PRICE PER SQUARE FOOT
▶ RECENT TRENDS
● AUG 2023 ● AUG 2024
● SALES ● TOTAL INVENTORY ● MEDIAN PRICE
2,781
2,963
3,020
2,920
2,457
2,148
2,084
1,997
1,853
1,879
2,021
1,583
1,543
857
807
783
713
668
481
547
712
599
580
518
452
364
$950K
$940K
$935K
$921K
$910K
$920K
$910K
$920K
$915K
$900K
$900K
$889K
$885K
Vancouver Region
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
1,000
109
4+ bdrms
693
800
300
600
3 bdrms
1,552
400
27% 25%
133
20% 17%
2 bdrms
15%
661
200
10%
9%
4%
0
5
<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+
57
S-L RATIO SALES INVENTORY
112 30 27%
564 143 25%
972 192 20%
519 88 17%
405 59 15%
253 26 10%
66 6 9%
72 3 4%
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. 6 ●
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