port moody CONDO - JANUARY 2 0 2 4
SALES TO LISTINGS RATIO 24% SELLERS' MARKET
▶ MARKET SUMMARY
AVERAGE PRICE
AVERAGE PSF PRICE ▼ 6% VS 2023
MEDIAN PRICE
TOTAL LISTINGS
SALES
▼ 4% VS 2023
▼ 4% VS 2023
▼ 51% VS 2023
▼ 21% VS 2023
There were 46 condo listings in Port Moody in January, 18% above December and 51% lower than January 2023.
January condo sales decreased by 8% month-over-month, to 11, and were 21% below January 2023.
THIS MONTH No.
PREVIOUS MONTH
PREVIOUS YEAR
No.
% Change
No.
% Change
The sales-to-listing ratio for condos in Port Moody, at 24%, reflected a sellers' market.
TOTAL LISTINGS TOTAL SALES SALES-LISTINGS RATIO MEDIAN SOLD PRICE AVERAGE SOLD PRICE AVERAGE PRICE PSF
11 46
14 94
-6% -4% -4% 61% -21% -51%
12 39
-0.5% -3% 7% -22% -8% 18%
The condo median price in January was $683,000, a 7% increase from December and 4% below January 2023. The average sold price was $709,854, 3% below last month; the average PSF sale price was $795, down 0.5% to last month.
$795 $709,854 $683,000 24%
$846 $737,055 $710,750 15%
$799 $730,367 $638,250 31%
▶ AVG PRICE PER SQUARE FOOT
▶ RECENT TRENDS
● JAN 2023 ● JAN 2024
● SALES ● TOTAL INVENTORY ● MEDIAN PRICE
104
94
86
91
86
66
72
57
56
54
51
59
44
55
46
34
45
41
39
25
23
14
20
11
17
12
$780K
$750K
$741K
$734K
$730K
$720K
$711K
$713K
$685K
$683K
$655K
$632K
$638K
PORT MOODY
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
20
100%+
100%
4+ bdrms
1
15
3 bdrms
10
9
24%
5
2 bdrms
35
10%
0
2
<$400K $400-599K $600-799K $800-999K $1.0M-1.24M $1.25M-1.49M $1.5M-1.99M $2M+
<2 bdrms
S-L RATIO SALES INVENTORY
1 0 n/a
2 3 150%
21 5 24%
20 2 10%
1 1 100%
1 0 n/a
10
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 February 7, 2024. All data from Real Estate Board of Greater Vancouver and Fraser Valley & 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. 37 ●
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