richmond DETACHED - JANUARY 2 0 2 4
SALES TO LISTINGS RATIO 10% BUYERS' MARKET
▶ MARKET SUMMARY
AVERAGE PRICE
MEDIAN PRICE
TOTAL LISTINGS
SALES
▲ 19% VS 2023
▲ 16% VS 2023
▲ 12% VS 2023
▲ 38% VS 2023
There were 368 detached listings in Richmond in January, 2% below December and 12% higher than January 2023. January detached home sales decreased by 10% month-over-month, to 36, and were 38% above January 2023. The sales-to-listing ratio for detached in Richmond, at 10%, reflected a buyers' market. The detached median price in January was $2,319,000, a 21% increase from December and 16% above January 2023. The average sold price was $2,486,360, 12% above last month and up 19% to January 2023.
THIS MONTH No. $2,486,360 $2,319,000 10% 36 368
PREVIOUS MONTH
PREVIOUS YEAR
No.
% Change 19% 16% 24% 38% 12%
No.
% Change
TOTAL LISTINGS TOTAL SALES SALES-LISTINGS RATIO MEDIAN SOLD PRICE AVERAGE SOLD PRICE
$2,083,146 $2,004,000 8% 26 330
$2,228,195 $1,912,500 11% 40 376
12% 21% -8% -10% -2%
▶ RATIO OF MEDIAN PRICES
▶ RECENT TRENDS
● DETACHED-TO-TOWNHOME ● TOWNHOME-TO-CONDO
● SALES ● TOTAL INVENTORY ● MEDIAN PRICE
458
441
426
481
464
459
349
2.05
368
378
376
1.95
330
343
340
1.74
1.73
1.58
1.52
109
93
92
73
55
40
92
64
36
59
26
57
51
$2.32M
$2.25M
$2.00M
$2.00M $2.02M $2.06M $2.01M $2.10M $1.85M
$1.98M $1.91M
$1.95M $1.85M
23-Jan
23-Dec
24-Jan
▶ TOTAL LISTINGS & SALES BY PRICE RANGE
SELLERS' MARKET 21% +
BALANCED 12 - 20%
BUYERS' MARKET <12%
● SALES ● TOTAL INVENTORY ● S-L RATIO
120
100%
100
80
60
33%
40
15%
14%
20
7%
6%
0
<$600K
$600-799K
$800-999K
$1.0M-1.24M $1.25M-1.49M $1.5M-1.99M $2.0M-2.49M $2.5M-2.99M
$3M+
S-L RATIO SALES INVENTORY
3 1 33%
1 0 n/a
1 0 n/a
1 1 100%
4 0 n/a
71 11 15%
64 9 14%
102 6 6%
121 8 7%
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.
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