richmond TOWNHOME - JANUARY 2 0 2 4
SALES TO LISTINGS RATIO 24% SELLERS' MARKET
▶ MARKET SUMMARY
AVERAGE PRICE
AVERAGE PSF PRICE ▲ 3% VS 2023
MEDIAN PRICE
TOTAL LISTINGS
SALES
▲ 12% VS 2023
▲ 22% VS 2023
▲ 119% VS 2023
▼ 0.7% VS 2023
There were 147 townhome listings in Richmond in January, 6% below December and 0.7% lower than January 2023. January townhome sales increased by 40% month-over-month, to 35, and were 119% above January 2023. The sales-to-listing ratio for townhomes in Richmond, at 24%, reflected a sellers' market. The townhome median price in January was $1,192,000, a 8% increase from December and 22% above January 2023. The average sold price was $1,147,125, 1.1% below last month; the average PSF sale price was $737, down 2% to last month.
THIS MONTH No. $737 $1,147,125 $1,192,000 24% 35 147
PREVIOUS MONTH
PREVIOUS YEAR
No.
% Change
No.
% Change
TOTAL LISTINGS TOTAL SALES SALES-LISTINGS RATIO MEDIAN SOLD PRICE AVERAGE SOLD PRICE AVERAGE PRICE PSF
$714 $1,023,713 $979,000 11% 16 148
120% 119% -0.7%
$752 $1,160,328 $1,100,000 16% 25 156
49% 40% -6%
-2% -1.1% 8%
3% 12% 22%
▶ AVG PRICE PER SQUARE FOOT
▶ RECENT TRENDS
● JAN 2023 ● JAN 2024
● SALES ● TOTAL INVENTORY ● MEDIAN PRICE
182
190
166
187
184
177
167
161
148
160
147
157
156
82
72
68
60
71
46
70
43
49
35
16
25
25
$1.22M $1.17M
$1.19M
$1.10M $1.15M $1.07M $1.17M
$1.13M $1.10M
$1.04M $1.09M $1.10M
$979K
RICHMOND
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
50
6
4+ bdrms
34
40
25
30
3 bdrms
92
50%
20
33%
29% 27%
4
21%
2 bdrms
16%
21
10
0
<2 bdrms
<$400K $400-599K $600-799K $800-999K $1.0M-1.24M $1.25M-1.49M $1.5M-1.99M $2M+
S-L RATIO SALES INVENTORY
3 1 33%
2 1 50%
35 10 29%
48 13 27%
38 6 16%
19 4 21%
2 0 n/a
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. 39 ●
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