the rennie review | September 2023

new w estm inster CONDO -AUGUST 2023

SALES TO LISTINGSRATIO 36% SELLERS'M ARKET

▶ MARKETSUMMARY

AVERAGEPRICE

AVERAGE PSF PRICE ▲ 7% VS 2022

MEDIAN PRICE

TOTALLISTINGS

SALES

▲ 7% VS 2022

▲ 8% VS 2022

▲ 4% VS 2022

▲ 29% VS 2022

Therewere172 condolistingsin N ew W estm insterin August,5% below Julyand 4% higherthan August2022. Augustcondosalesdecreased by21% m onth-over-m onth,to62,and were29% aboveAugust 2022. Thesales-to-listing ratio forcondosin N ew W estm inster, at36% ,reflected aselers'm arket. Thecondom edian pricein Augustwas$647,900,a3% increasefrom Julyand 8% aboveAugust2022. Theaveragesold pricewas$642,112,0.3% abovelast m onth;theaveragePSF salepricewas$730,up 1.1% to lastm onth.

THISMONTH No.

PREVIOUSMONTH

PREVIOUSYEAR

No.

% Change

No.

% Change

TOTALLISTINGS TOTALSALES

$730 $642,112 $647,900 36% 62 172

$682 $602,650 $602,400 29% 48 165

24% 29% 4%

$722 $640,351 $628,500 43% 78 181

1.1% 0.3% 3% -16% -21% -5%

SALES-LISTINGSRATIO MEDIAN SOLD PRICE AVERAGESOLD PRICE AVERAGEPRICEPSF

7% 7% 8%

▶ AVG PRICEPERSQUAREFOOT

▶ RECENTTRENDS

● AUG 202 ● AUG 2023

● SALES ● TOTALINVENTORY ● MEDIAN PRICE

171

171

181

172

165

168

130

128

127

148

122

121

19

96

78

76

59

82

62

72

48

36

52

51

44

26

$631K

$610K $650K $613K $629K $648K

$602K $575K

$602K $586K

$583K

$555K $598K

NEW W ESTMINSTER REBGV

▶ NUMBEROFBEDROOMS

▶ TOTALLISTINGS&SALESBYPRICERANGE

SEL ERS'MARKET 21% +

BALANCED 12 - 20%

BUYERS'MARKET <12%

● SALES ● TOTALINVENTORY

● SALES ● TOTALINVENTORY ● S-L RATIO

70

60

4+ bdrms

2

50

67%

2

40

3 bdrms

53%

16

30

33%

20

39

23%

2 bdrms

101

10

0

21

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

<2 bdrms

S-L RATIO SALES INVENTORY

3 2 67%

54 18 33%

66 35 53%

31 7 23%

11 0 n/a

6 0 n/a

1 0 n/a

53

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