richmond
CONDO AUGUST
AVERAGE PRICE
AVERAGE PSF PRICE 7 % UP
BENCHMARK PRICE 5 % UP
TOTAL LISTINGS
SALES
SALES TO LISTING RATIO
MARKET SUMMARY ›
8 % UP
17 % DOWN
BALANCED 19 %
10 % UP
The number of condo listings in Richmond increased by 7% between July and August (to 756), but decreased by 17% vs August 2019. The number of condo sales decreased by 13% vs July (to 141) but rose 10% vs August 2019. The sales-to-listings ratio decreased to 19%, as Richmond’s condo market transitioned to balanced market territory. The condo benchmark price was $658,000 in August, 1.1% above July and 5% higher vs August 2019. The average sold price was $609,316 (up 7% vs July) while the average PSF sales price was $691 (1.8% higher vs July).
VS
VS
VS
VS
VS
PREVIOUS MONTH
PREVIOUS YEAR
THIS MONTH No.
No. 705 163 23%
% Change
No. 906 128 14%
% Change
TOTAL LISTINGS
756 141 19%
7%
-17% 10% 32%
TOTAL SALES
-13% -19%
SALES-LISTINGS RATIO BENCHMARK PRICE AVERAGE SOLD PRICE AVERAGE PRICE PSF
$658,000 $651,000 $609,316 $569,580
1.1% $626,700 7% $565,251
5% 8% 7%
$691
$679
1.8%
$645
AVG PRICE PER SQUARE FOOT ›
HISTORICAL TREND
›
SALES
TOTAL INVENTORY
BENCHMARK PRICE
$658,000
$626,700 $625,500 $631,300 $641,600 $652,800 $650,700
906
775
756
686
599
594
516
151
141
140
135
134
128
65
RICHMOND
REBGV
TOTAL LISTINGS & SALES BY PRICE RANGE
NUMBER OF BEDROOMS
›
›
SALES
TOTAL INVENTORY
S L RATIO
SALES TOTAL INVENTORY
SELLER'S MARKET
BALANCED
15
3+ bdrms
BUYER'S MARKET
122
84
2 bdrms
446
42
<2 bdrms
. . . . 0 0 0 0 QD
188
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 All information is subject to change and any property may be withdrawn from the market at any time without notice or obligation to the recipient from rennie group of companies.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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