rennie review - March 2020

richmond

TOWNHOME - FEBRUARY 2020

AVERAGE PRICE

AVERAGE PSF PRICE

BENCHMARK PRICE

TOTAL LISTINGS

SALES

SALES TO LISTING RATIO

MARKET SUMMARY ›

SELLER’S 21 %

18 % DOWN

11 % UP

10 % UP

1.5 % DOWN

115 % UP

The number of townhome listings in Richmond fell to 279 in February, 0.7% below the previous month and an 18% decrease vs February 2019. The 58 townhome sales in February were 3 below January but 31 higher year-over-year. The townhome sales-to-listings ratio dipped to 21%, as Richmond’s townhome market remained in sell- er’s market territory. The benchmark price for townhomes in February was $784,000, 1.1% above January but 1.5% lower than in February 2019. The average sold price was $892,138 (8% above January) with an average PSF sales price of $577 (3% above January).

VS 2019

VS 2019

VS 2019

VS 2019

VS 2019

PREVIOUS MONTH

PREVIOUS YEAR

THIS MONTH No.

No. 281

% Change

No. 342

% Change

TOTAL LISTINGS

279

-0.7%

-18% 115% 163% -1.5%

TOTAL SALES

58

61

-5% -4%

27 8%

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

21%

22%

$784,000 $775,500 $892,138 $825,144

1.1% $795,900 8% $803,282

11% 10%

$577

$558

3%

$524

AVG PRICE PER SQUARE FOOT ›

HISTORICAL TREND

SALES TOTAL INVENTORY BENCHMARK PRICE

$795,900 $778,000 $779,200 $774,900 $773,400 $770,300 $784,000

486

482

451

419

342

288

279

85

60

58

54

52

42

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RICHMOND

REBGV

TOTAL LISTINGS & SALES BY PRICE RANGE

NUMBER OF BEDROOMS

SALES TOTAL INVENTORY S-L RATIO

SALES TOTAL INVENTORY



SELLER'S MARKET

  





BALANCED

19



4+ bdrms

BUYER'S MARKET

77





35





3 bdrms



166









4



<3 bdrms

. . . . 0 0 0 0 QD      QD QD                

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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 March 4, 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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