the vancouver rennie review | August 2024

new westminster TOWNHOME - JULY 2 0 2 4

SALES TO LISTINGS RATIO 26% SELLERS' MARKET

▶ MARKET SUMMARY

AVERAGE PRICE

AVERAGE PSF PRICE ▼ 7% VS 2023

MEDIAN PRICE

TOTAL INVENTORY

SALES

▲ 79% VS 2023

▼ 9% VS 2023

▼ 3% VS 2023

▼ 35% VS 2023

There were 43 townhome listings in New Westminster in July, 16% above June and 79% higher than July 2023. July townhome sales increased by 38% month-over-month, to 11, and were 35% below July 2023. The sales-to-listing ratio for townhomes in New Westminster, at 26%, reflected a sellers' market. The townhome median price in July was $968,000, a 7% increase from June and 3% below July 2023. The average sold price was $912,000, 3% below last month; the average PSF sale price was $663, up 3% to last month.

THIS MONTH No.

PREVIOUS MONTH

PREVIOUS YEAR

No.

% Change

No.

% Change

TOTAL INVENTORY TOTAL SALES SALES-LISTINGS RATIO MEDIAN SOLD PRICE AVERAGE SOLD PRICE AVERAGE PRICE PSF

11 43

17 24

-64% -35% 79%

$646 $941,561 $908,745 22% 8 37

3% -3% 7% 18% 38% 16%

$663 $912,000 $968,000 26%

$715 $1,007,359 $995,000 71%

-7% -9% -3%

▶ AVG PRICE PER SQUARE FOOT

▶ RECENT TRENDS

● JUL 2023 ● JUL 2024

● SALES ● TOTAL INVENTORY ● MEDIAN PRICE

43

35

37

29

34

33

26

25

28

24

17

21

21

15

20

10

11

6

11

5

3

3

8

7

6

5

$1.01M

$1.00M

$995K

$989K

$990K

$968K

$968K

$955K

$950K

$945K

$900K

$909K

$811K

NEW WESTMINSTER

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

100%

4+ bdrms

15

5

5

10

3 bdrms

26

29% 29%

25%

5

5

2 bdrms

12

0

1

<2 bdrms

<$600K $600K-799K $800K-999K $1.0M-1.24M $1.25M-1.49M $1.5M-1.99M $2.0M-2.49M $2.5M+

S-L RATIO SALES INVENTORY

1 1 100%

7 2 29%

17 5 29%

12 3 25%

4 0 n/a

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 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. 30 ●

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