the vancouver rennie review | August 2024

greater vancouver board area TOWNHOME - JULY 2 0 2 4

SALES TO LISTINGS RATIO 22% SELLERS' MARKET

▶ MARKET SUMMARY

AVERAGE PRICE

AVERAGE PSF PRICE ▼ 3% VS 2023

MEDIAN PRICE

TOTAL INVENTORY

SALES

▲ 59% VS 2023

▼ 1.1% VS 2023

▼ 3% VS 2023

▼ 8% VS 2023

There were 1,636 townhome listings in the Greater Vancouver board area in July, 2.0% above June and 59% higher than July 2023. July townhome sales decreased by 3% month-over-month, to 358, and were 8% below July 2023. The sales-to-listing ratio for townhomes in the Greater Vancouver board area, at 22%, reflected a sellers' market. The townhome median price in July was $1,065,375, a 3% decrease from June and 3% below July 2023. The average sold price was $1,133,512, 4% below last month; the average PSF sale price was $768, down 3% to last month.

THIS MONTH No. $768 $1,133,512 $1,065,375 22% 358 1,636

PREVIOUS MONTH

PREVIOUS YEAR

No.

% Change

No.

% Change

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

$794 $1,146,361 $1,093,000 38% 391 1,031

-3% -1.1% -3% -42% -8% 59%

$792 $1,177,589 $1,102,500 23% 370 1,604

-3% -4% -3% -5% -3% 2%

▶ AVG PRICE PER SQUARE FOOT

▶ RECENT TRENDS

● JUL 2023 ● JUL 2024

● SALES ● TOTAL INVENTORY ● MEDIAN PRICE

1,536

1,636

1,604

1,387

1,218

1,173

1,116

1,029

1,141

1,031

1,020

871

863

455

438

399

351

319

298

391

267

358

370

302

220

179

$1.09M $1.07M $1.10M $1.05M $1.05M $1.05M $1.07M $1.08M $1.10M $1.09M $1.08M $1.10M $1.07M

REBGV

FVREB

▶ 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

350

64

4+ bdrms

283

300

250

209

3 bdrms

200

899

150

31%

30% 27%

25%

77

100

2 bdrms

16% 18%

412

8%

5%

50

0

8

<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+

42

S-L RATIO SALES INVENTORY

40 12 30%

186 51 27%

321 98 31%

331 83 25%

359 58 16%

257 47 18%

66 5 8%

76 4 5%

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. 9 ●

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