the rennie review - September 2020

richmond

DETACHED  AUGUST 

AVERAGE PRICE

AVERAGE PSF PRICE

BENCHMARK PRICE 6 % UP

TOTAL LISTINGS

SALES

SALES TO LISTING RATIO

MARKET SUMMARY ›

34 % DOWN

9 % UP

-

50 % UP

BALANCED 17 %

There were 584 detached listings in Richmond in August, 1.9% above July but 34% lower vs August 2019. The 99 detached sales were an increase of 5% month-over-month and 50% higher year-over-year. The sales-to-listings ratio increased to 17% in August, as Richmond’s detached market remained a balanced market. The benchmark price was $1.55M in August, 2% above July and 6% higher year-over-year. The average sold price was $1.79M, 6% above July and 9% higher year-over-year.

VS 

VS 

VS 

VS 

VS 

PREVIOUS MONTH

PREVIOUS YEAR

THIS MONTH No.

No. 573

% Change

No. 882

% Change

TOTAL LISTINGS

584

1.9%

-34% 50% 127%

TOTAL SALES

99

94

5% 3%

66 7%

SALES-LISTINGS RATIO BENCHMARK PRICE AVERAGE SOLD PRICE AVERAGE PRICE PSF

17%

16%

$1,545,500 $1,509,300 $1,785,215 $1,688,948

2% $1,458,800 6% $1,631,634

6% 9%

-

-

-

-

-

RATIO OF BENCHMARK PRICES ›

HISTORICAL TREND

SALES

TOTAL INVENTORY

BENCHMARK PRICE

MILLIONS

$1.55

$1.53

$1.51

$1.51

$1.50

$1.49

$1.46

1.92

1.89

1.88

882

794

1.23

1.23

1.23

596

584

561

527

523

107

99

86

75

66

53

36

Aug-19

Jul-20

Aug-20

TOTAL LISTINGS & SALES BY PRICE RANGE ›

SALES

TOTAL INVENTORY

SL RATIO

     

  

SELLER'S MARKET



BALANCED

BUYER'S MARKET





    







. . . 0 0 0 0 0 QD QD                      

S-L RATIO SALES INVENTORY

Copyright © 2020 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 September 3, 2020. All data from Real Estate Board of Greater Vancouver and Fraser Valley & 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.

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