greater vancouver board area DETACHED - AUGUST 2 0 2 4
SALES TO LISTINGS RATIO 9% BUYERS' MARKET
▶ MARKET SUMMARY
AVERAGE PRICE
MEDIAN PRICE
TOTAL INVENTORY
SALES
▲ 35% VS 2023
▼ 11% VS 2023
▼ 1.1% VS 2023
▼ 14% VS 2023
There were 5,389 detached listings in the Greater Vancouver board area in August, 0.1% above July and 35% higher than August 2023. August detached home sales decreased by 26% month-over-month, to 498, and were 14% below August 2023. The sales-to-listing ratio for detached in the Greater Vancouver board area, at 9%, reflected a buyers' market.
THIS MONTH No. $2,131,765 $1,884,444 9% 498 5,389
PREVIOUS MONTH
PREVIOUS YEAR
No.
% Change
No.
% Change
TOTAL INVENTORY TOTAL SALES SALES-LISTINGS RATIO MEDIAN SOLD PRICE AVERAGE SOLD PRICE
$2,384,074 $1,906,000 14% 580 4,001
-11% -1.1% -36% -14% 35%
$2,167,205 $1,875,000 12% 672 5,384
-1.6% 0.5% -26% -26% 0.1%
The detached median price in August was $1,884,444, a 0.5% increase from July and 1.1% below August 2023.
The average sold price was $2,131,765, 1.6% below last month and down 11% to August 2023.
▶ RATIO OF MEDIAN PRICES
▶ RECENT TRENDS
● DETACHED-TO-TOWNHOME ● TOWNHOME-TO-CONDO
● SALES ● TOTAL INVENTORY ● MEDIAN PRICE
5,071
5,389
5,384
5,331
4,628
4,427
4,343
4,011
1.86
4,001
1.80
1.77
3,813
3,450
3,289
3,131
1.48
1.47
1.41
828
794
672
567
553
504
383
367
580
498
679
650
545
$1.94M $1.97M $1.97M $1.88M $1.88M
$1.91M $1.86M $1.93M $1.88M $1.80M
$1.81M $1.92M $1.91M
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
1,200
1,000
800
600
400
19%
18%
12%
11%
11%
200
8%
7%
4%
2%
1%
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
302 34 11%
211 40 19%
423 76 18%
1,139 129 11%
773 96 12%
670 54 8%
813 31 4%
411 27 7%
218 3 1%
429 8 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. 8 ●
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