richmond CONDO - JULY 2 0 2 4
SALES TO LISTINGS RATIO 19% BALANCED MARKET
▶ MARKET SUMMARY
AVERAGE PRICE
AVERAGE PSF PRICE ▲ 3% VS 2023
MEDIAN PRICE
TOTAL INVENTORY
SALES
▲ 6% VS 2023
▲ 4% VS 2023
▲ 49% VS 2023
▼ 14% VS 2023
There were 718 condo listings in Richmond in July, 6% above June and 49% higher than July 2023.
July condo sales increased by 7% month-over-month, to 140, and were 14% below July 2023.
THIS MONTH No.
PREVIOUS MONTH
PREVIOUS YEAR
No. 163 482
% Change
No. 131 680
% Change
The sales-to-listing ratio for condos in Richmond, at 19%, reflected a balanced market.
TOTAL INVENTORY TOTAL SALES SALES-LISTINGS RATIO MEDIAN SOLD PRICE AVERAGE SOLD PRICE AVERAGE PRICE PSF
140 718
-42% -14% 49%
7% 6%
The condo median price in July was $705,400, a 3% decrease from June and 4% above July 2023. The average sold price was $748,130, 2% above last month; the average PSF sale price was $870, up 1.6% to last month.
$870 $748,130 $705,400 19%
$841 $707,864 $680,000 34%
$856 $729,969 $726,000 19%
1.6% 2% -3% 1.2%
3% 6% 4%
▶ AVG PRICE PER SQUARE FOOT
▶ RECENT TRENDS
● JUL 2023 ● JUL 2024
● SALES ● TOTAL INVENTORY ● MEDIAN PRICE
718
662
680
563
527
599
504
543
541
482
452
446
444
194
182
126
163
97
140
151
142
130
131
107
96
92
$730K
$734K
$726K
$705K
$698K
$700K
$698K
$700K
$688K
$690K
$680K
$679K
$644K
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
200
4+ bdrms
18
150
14
3 bdrms
117
100
32%
23%
74
16%
2 bdrms
50
10% 13%
10%
398
7%
0
52
<$600K $600K-799K $800K-999K $1.0M-1.24M $1.25M-1.49M $1.5M-1.99M $2.0M-2.49M $2.5M+
<2 bdrms
S-L RATIO SALES INVENTORY
129 41 32%
225 51 23%
194 32 16%
77 8 10%
39 5 13%
28 2 7%
10 1 10%
16 0 n/a
185
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. 40 ●
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