greater vancouver board area DETACHED - JULY 2 0 2 4
SALES TO LISTINGS RATIO 12% BALANCED MARKET
▶ MARKET SUMMARY
AVERAGE PRICE
MEDIAN PRICE
TOTAL INVENTORY
SALES
▲ 2% VS 2023
▲ 36% VS 2023
▲ 0.6% VS 2023
▼ 1.7% VS 2023
There were 5,380 detached listings in the Greater Vancouver board area in July, 1.3% above June and 36% higher than July 2023. July detached home sales decreased by 1.3% month-over-month, to 670, and were 0.6% above July 2023. The sales-to-listing ratio for detached in the Greater Vancouver board area, at 12%, reflected a balanced market. The detached median price in July was $1,877,500, a 5% decrease from June and 2% above July 2023.
THIS MONTH No. $2,171,590 $1,877,500 12% 670 5,380
PREVIOUS MONTH
PREVIOUS YEAR
No.
% Change
No.
% Change
TOTAL INVENTORY TOTAL SALES SALES-LISTINGS RATIO MEDIAN SOLD PRICE AVERAGE SOLD PRICE
$2,208,025 $1,833,500 17% 666 3,946
-1.7% 2% -26% 0.6% 36%
$2,381,963 $1,970,000 13% 679 5,313
-9% -5% -3% -1.3% 1.3%
The average sold price was $2,171,590, 9% below last month and down 1.7% to July 2023.
▶ RATIO OF MEDIAN PRICES
▶ RECENT TRENDS
● DETACHED-TO-TOWNHOME ● TOWNHOME-TO-CONDO
● SALES ● TOTAL INVENTORY ● MEDIAN PRICE
5,059
5,380
4,622
5,313
4,427
4,343
4,011
1.79
1.78
3,946
1.69
4,001
3,812
1.53
3,450
1.52
3,289
1.47
3,131
828
794
567
554
504
383
367
666
670
679
651
580
545
$1.94M $1.97M $1.97M $1.88M
$1.83M $1.91M $1.86M $1.93M $1.88M $1.80M
$1.81M $1.92M $1.92M
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
1,200
1,000
800
600
400
21%
20%
19%
15%
14%
10%
200
9%
6%
2%
2%
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
274 42 15%
189 36 19%
422 88 21%
1,115 220 20%
824 112 14%
679 65 10%
817 70 9%
411 24 6%
224 4 2%
425 9 2%
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. 8 ●
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