new westminster CONDO - JULY 2 0 2 4
SALES TO LISTINGS RATIO 28% SELLERS' MARKET
▶ MARKET SUMMARY
AVERAGE PRICE
AVERAGE PSF PRICE ▲ 1.5% VS 2023
MEDIAN PRICE
TOTAL INVENTORY
SALES
▲ 38% VS 2023
▼ 0.3% VS 2023
▼ 1.7% VS 2023
▼ 12% VS 2023
There were 249 condo listings in New Westminster in July, 0.4% above June and 38% higher than July 2023.
July condo sales decreased by 16% month-over-month, to 69, and were 12% below July 2023.
THIS MONTH No.
PREVIOUS MONTH
PREVIOUS YEAR
No.
% Change
No.
% Change
The sales-to-listing ratio for condos in New Westminster, at 28%, reflected a sellers' market.
TOTAL INVENTORY TOTAL SALES SALES-LISTINGS RATIO MEDIAN SOLD PRICE AVERAGE SOLD PRICE AVERAGE PRICE PSF
$733 $638,233 $618,000 28% 69 249
$722 $640,351 $628,500 43% 78 181
1.5% -0.3% -1.7% -36% -12% 38%
$693 $646,228 $632,000 33% 82 248
6% -1.2% -2% -16% -16% 0.4%
The condo median price in July was $618,000, a 2% decrease from June and 1.7% below July 2023. The average sold price was $638,233, 1.2% below last month; the average PSF sale price was $733, up 6% to last month.
▶ AVG PRICE PER SQUARE FOOT
▶ RECENT TRENDS
● JUL 2023 ● JUL 2024
● SALES ● TOTAL INVENTORY ● MEDIAN PRICE
249
232
252
248
178
173
172
181
189
172
164
138
130
87
82
73
78
63
59
69
47
77
62
55
41
33
$648K
$645K
$645K
$640K
$629K
$632K
$626K
$618K
$610K
$610K
$599K
$594K
$593K
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
70
60
4+ bdrms
2
50
40
1
3 bdrms
21
40%
30
35%
31%
27%
20
22%
44
21%
20%
2 bdrms
157
10
0
24
<$400K $400K-499K $500K-599K $600K-699K $700K-799K $800K-899K $900K-999K $1.0M+
<2 bdrms
S-L RATIO SALES INVENTORY
9 2 22%
17 6 35%
65 20 31%
52 21 40%
48 10 21%
22 6 27%
20 4 20%
16 0 n/a
69
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. 31 ●
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