the rennie review | September 2023

new w estm inster TOWNHOME-AUGUST 2023

SALES TO LISTINGSRATIO 24% SELLERS'M ARKET

▶ MARKETSUMMARY Therewere29 townhom elistingsin N ew W estm insterin August,21% aboveJulyand 61% higherthan August 2022. Augusttownhom esalesdecreased by59% m onth-over-m onth,to 7,and were46% below August 2022. Thesales-to-listing ratio fortow nhom esin N ew W estm inster,at24% ,reflected aselers'm arket. Thetownhom em edian pricein Augustwas$900,000,a 10% decreasefrom Julyand 4% aboveAugust2022. Theaveragesold pricewas$968,278,4% below last m onth;theaveragePSF salepricewas$683,down 5% to lastm onth.

AVERAGEPRICE

AVERAGE PSF PRICE ▲ 8% VS 2022

MEDIAN PRICE

TOTALLISTINGS

SALES

▲ 11% VS 2022

▲ 4% VS 2022

▲ 61% VS 2022

▼ 46% VS 2022

THISMONTH No.

PREVIOUSMONTH

PREVIOUSYEAR

No.

% Change

No.

% Change

TOTALLISTINGS TOTALSALES

$683 $968,278 $900,000 24% 7 29

13 18

8% 11% 4% -67% -46% 61%

17 24

-10% -66% -59% 21%

SALES-LISTINGSRATIO MEDIAN SOLD PRICE AVERAGESOLD PRICE AVERAGEPRICEPSF

$635 $869,062 $863,000 72%

$715 $1,007,359 $995,000 71%

-5% -4%

▶ AVG PRICEPERSQUAREFOOT

▶ RECENTTRENDS

● AUG 202 ● AUG 2023

● SALES ● TOTALINVENTORY ● MEDIAN PRICE

31

29

29

29

28

26

25

22

24

23

19

17 17

19

18

13

7

10

7

7

2

5

4 4

3

$1.03M

$995K

$950K

$925K $958K $970K $995K $930K $990K

$905K

$900K

$863K

$822K

NEW W ESTMINSTER REBGV

▶ NUMBEROFBEDROOMS

▶ TOTALLISTINGS&SALESBYPRICERANGE

SEL ERS'MARKET 21% +

BALANCED 12 - 20%

BUYERS'MARKET <12%

● SALES ● TOTALINVENTORY

● SALES ● TOTALINVENTORY ● S-L RATIO

12

1

100%

10

4+ bdrms

3

8

5

3 bdrms

6

17

36%

33%

4

1

2 bdrms

8

2

9%

0

<2 bdrms

<$400K $400-599K $600-799K $800-999K $1.0M -1.24M $1.25M -1.49M $1.5M -1.99M $2M +

1

S-L RATIO SALES INVENTORY

1 0 n/a

3 1 33%

11 4 36%

11 1 9%

1 1 100%

2 0 n/a

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