richmond TOWNHOME - JULY 2 0 2 4
SALES TO LISTINGS RATIO 19% BALANCED MARKET
▶ MARKET SUMMARY
AVERAGE PRICE
AVERAGE PSF PRICE ▼ 0.8% VS 2023
MEDIAN PRICE
TOTAL INVENTORY
SALES
▲ 4% VS 2023
▲ 2% VS 2023
▲ 66% VS 2023
▼ 21% VS 2023
There were 277 townhome listings in Richmond in July, 16% above June and 66% higher than July 2023. July townhome sales decreased by 1.8% month-over-month, to 54, and were 21% below July 2023. The sales-to-listing ratio for townhomes in Richmond, at 19%, reflected a balanced market. The townhome median price in July was $1,195,500, a 0.3% decrease from June and 2% above July 2023. The average sold price was $1,198,624, 4% below last month; the average PSF sale price was $766, down 0.9% to last month.
THIS MONTH No. $766 $1,198,624 $1,195,500 19% 54 277
PREVIOUS MONTH
PREVIOUS YEAR
No.
% Change
No.
% Change
TOTAL INVENTORY TOTAL SALES SALES-LISTINGS RATIO MEDIAN SOLD PRICE AVERAGE SOLD PRICE AVERAGE PRICE PSF
$772 $1,154,545 $1,170,250 41% 68 167
-0.8% 4% 2% -52% -21% 66%
$773 $1,244,684 $1,199,200 23% 55 238
-0.9% -4% -0.3% -16% -1.8% 16%
▶ AVG PRICE PER SQUARE FOOT
▶ RECENT TRENDS
● JUL 2023 ● JUL 2024
● SALES ● TOTAL INVENTORY ● MEDIAN PRICE
277
218
238
192
190
184
187
167
177
156
146
145
140
68
60
56
68
43
54
25
25
60
57
55
49
35
$1.19M $1.22M $1.20M $1.15M $1.16M $1.20M $1.20M
$1.17M
$1.13M $1.10M
$1.04M $1.09M $1.10M
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
100
100%
15
4+ bdrms
80
79
60
33
3 bdrms
163
40
36%
5
21%
20% 17%
2 bdrms
16%
20
32
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+
3
S-L RATIO SALES INVENTORY
1 1 100%
11 4 36%
41 8 20%
92 16 17%
85 18 21%
44 7 16%
3 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. 39 ●
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