the rennie review | September 2023

vancouverregion DETACHED -AUGUST 2023

SALES TO LISTINGSRATIO 15% BALANCEDMARKET

▶ MARKETSUMMARY Therewere7,115 detached listingsin theVancouver Region in August,2% aboveJulyand 1.7% higherthan August2022. Augustdetached hom esalesdecreased by8% m onth-over-m onth,to 1,046,and were18% above August2022. Thesales-to-listing ratio fordetached in the Vancouver Region,at15% ,reflected abalanced m arket.

AVERAGEPRICE

MEDIAN PRICE

TOTALLISTINGS

SALES

▲ 12% VS 2022

▲ 9% VS 2022

▲ 1.7% VS 2022

▲ 18% VS 2022

THISMONTH No.

PREVIOUSMONTH

PREVIOUSYEAR

No.

% Change

No.

% Change

TOTALLISTINGS TOTALSALES

1,046 7,115

13% 887 6,997

12% 9% 16% 18% 1.7%

1,131 6,975

-9% -8% 2%

Thedetachedm edian pricein Augustwas$1,664,833,a 0.9% increasefrom Julyand 9% aboveAugust2022.

SALES-LISTINGSRATIO MEDIAN SOLD PRICE AVERAGESOLD PRICE

$1,987,830 $1,664,833 15%

$1,939,314 $1,650,000 16%

Theaveragesold pricewas$1,987,830,3% abovelast m onth and up 12% toAugust2022.

3% 0.9%

$1,778,840 $1,525,000

▶ RATIO OFMEDIAN PRICES

▶ RECENTTRENDS

● DETACHED-TO-TOWNHOME ● TOWNHOME-TO-CONDO

● SALES ● TOTALINVENTORY ● MEDIAN PRICE

6,758

7,15

6,997

6,495

6,12

6,975

6,847

5,942

1.85

1.79

1.79

4,816

5,226

5,016

4,786

4,553

1.41

1.37

1.36

1,697

1,616

1,323

905

803

629

1,046

514

1,396

887

1,131

857

836

$1.65M $1.71M $1.67M $1.65M $1.66M

$1.53M $1.52M $1.54M $1.50M $1.50M $1.45M $1.55M $1.56M

22-Aug

23-Jul 23-Aug

▶ TOTALLISTINGS&SALESBYPRICERANGE

SEL ERS'MARKET 21% +

BALANCED 12 - 20%

BUYERS'MARKET <12%

● SALES ● TOTALINVENTORY ● S-L RATIO

2000

1500

1000

36%

28%

500

23%

22%

21%

16%

16%

9%

7%

0

<$600K

$600-799K

$800-999K

$1.0M -1.24M $1.25M -1.49M $1.5M -1.99M

$2.0M -2.49M

$2.5M -2.99M

$3M+ 1,885 124 7%

S-L RATIO SALES INVENTORY

127 46 36%

78 18 23%

240 52 22%

412 115 28%

864 179 21%

1,770 292 16%

947 149 16%

792 71 9%

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