new westminster DETACHED - JULY 2 0 2 4
SALES TO LISTINGS RATIO 15% BALANCED MARKET
▶ MARKET SUMMARY
AVERAGE PRICE
MEDIAN PRICE
TOTAL INVENTORY
SALES
▲ 8% VS 2023
▲ 49% VS 2023
▼ 2% VS 2023
▼ 28% VS 2023
There were 122 detached listings in New Westminster in July, 0.8% above June and 49% higher than July 2023. July detached home sales remained the same month-over-month, at 18, and were 28% below July 2023. The sales-to-listing ratio for detached in New Westminster, at 15%, reflected a balanced market.
THIS MONTH No. $1,720,084 $1,567,659 15% 18 122
PREVIOUS MONTH
PREVIOUS YEAR
No.
% Change
No.
% Change
TOTAL INVENTORY TOTAL SALES SALES-LISTINGS RATIO MEDIAN SOLD PRICE AVERAGE SOLD PRICE
25 82
-52% -28% 49%
$1,610,833 $1,577,500 15% 18 121
7% -0.6% -0.8% 0% 0.8%
The detached median price in July was $1,567,659, a 0.6% decrease from June and 2% below July 2023.
$1,597,836 $1,600,000 30%
The average sold price was $1,720,084, 7% above last month and up 8% to July 2023.
8% -2%
▶ RATIO OF MEDIAN PRICES
▶ RECENT TRENDS
● DETACHED-TO-TOWNHOME ● TOWNHOME-TO-CONDO
● SALES ● TOTAL INVENTORY ● MEDIAN PRICE
118
122
126
121
101
1.74
90
89
80
1.62 1.57
1.61 1.58
82
81
1.44
74
68
67
21
19
18
25
16
10
10
10
18
7
14
13
12
$1.90M
$1.74M $1.62M
$1.60M $1.63M
$1.58M $1.57M
$1.56M $1.55M $1.66M
$1.43M
$1.29M $1.40M
23-Jul
24-Jun
24-Jul
▶ TOTAL LISTINGS & SALES BY PRICE RANGE
SELLERS' MARKET 21% +
BALANCED 12 - 20%
BUYERS' MARKET <12%
● SALES ● TOTAL INVENTORY ● S-L RATIO
40
30
20
30%
20%
19%
10
7%
5%
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
5 0 n/a
5 1 20%
16 3 19%
40 12 30%
21 1 5%
14 0 n/a
14 1 7%
5 0 n/a
1 0 n/a
1 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 August 6, 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. 29 ●
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