richmond
CONDO - FEBRUARY 2020
AVERAGE PRICE
AVERAGE PSF PRICE 9 % UP
BENCHMARK PRICE
TOTAL LISTINGS
SALES
SALES TO LISTING RATIO
MARKET SUMMARY ›
4 % UP
15 % DOWN
53 % UP
SELLER’S 24 %
0.2 % DOWN
The number of condo listings in Richmond increased 4% between January and February (to 573), but fell by 15% from last February. The number of condo sales increased by 35% vs January (to 136) and rose 53% vs February 2019. The sales-to-listings ratio rose to 24%, as Richmond’s condo market transitioned to seller’s market territory. The condo benchmark price was $640,700 in February, 1.0% above January and virtually unchanged from February 2019. The average sold price was $600,432 (up 0.7% vs January) while the average PSF sales price was $719 (6% higher month-over-month).
VS 2019
VS 2019
VS 2019
VS 2019
VS 2019
PREVIOUS MONTH
PREVIOUS YEAR
THIS MONTH No.
No. 551 101 18%
% Change
No. 671
% Change
TOTAL LISTINGS
573 136 24%
4%
-15% 53% 79% -0.2%
TOTAL SALES
35% 29%
89
SALES-LISTINGS RATIO BENCHMARK PRICE AVERAGE SOLD PRICE AVERAGE PRICE PSF
13%
$640,700 $634,100 $600,432 $596,045
1.0% $642,100 0.7% $575,126
4% 9%
$719
$677
6%
$658
AVG PRICE PER SQUARE FOOT ›
HISTORICAL TREND
›
SALES TOTAL INVENTORY BENCHMARK PRICE
$642,100 $639,300 $628,500 $626,700 $625,500 $630,200 $640,700
921
904
829
773
671
573
512
151
142
136
128
119
90
89
RICHMOND
REBGV
TOTAL LISTINGS & SALES BY PRICE RANGE
NUMBER OF BEDROOMS
›
›
SALES TOTAL INVENTORY S-L RATIO
SALES TOTAL INVENTORY
SELLER'S MARKET
BALANCED
12
3+ bdrms
BUYER'S MARKET
100
76
2 bdrms
312
48
<2 bdrms
. . . . 0 0 0 0 QD QD
161
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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