richmond
CONDO - AUGUST 2019
AVERAGE PRICE
AVERAGE PSF PRICE
BENCHMARK PRICE 7 % DOWN
TOTAL LISTINGS
SALES
SALES TO LISTING RATIO
MARKET SUMMARY ›
44 % UP
BALANCED 15 %
8 % DOWN
10 % DOWN
17 % DOWN
The number of condo listings in Richmond decreased 5% between July and August (to 846), but rose by 44% from last August. The number of condo sales decreased by 14% vs July 2019 (to 128) and by 17% vs August 2018. The sales-to-listings ratio decreased to 15%, as Richmond’s condo market remained in balanced market territory. The condo benchmark price was $626,700 in August, 0.7% above July but 7% lower than in August 2018. The average sold price was $565,251 (up 1.7% vs July) while the average PSF sales price was $645 (1.1% lower month-over-month).
VS 2018
VS 2018
VS 2018
VS 2018
VS 2018
PREVIOUS MONTH
PREVIOUS YEAR
THIS MONTH No.
No. 895 148 17%
% Change
No. 589 154 26%
% Change
TOTAL LISTINGS
846 128 15%
-5%
44% -17% -42%
TOTAL SALES
-14%
SALES-LISTINGS RATIO BENCHMARK PRICE AVERAGE SOLD PRICE AVERAGE PRICE PSF
-9%
$626,700 $622,500 $565,251 $555,857
0.7% $670,800 1.7% $616,016 -1.1% $714
-7% -8%
$645
$652
-10%
AVG PRICE PER SQUARE FOOT ›
HISTORICAL TREND
›
SALES TOTAL INVENTORY BENCHMARK PRICE
$670,800 $666,600 $648,900 $642,100 $639,300 $628,500 $626,700
921
846
829
671
663
589
532
154
128
124
119
90
89
66
RICHMOND
REBGV
TOTAL LISTINGS & SALES BY PRICE RANGE
NUMBER OF BEDROOMS
›
›
SALES TOTAL INVENTORY S-L RATIO
SALES TOTAL INVENTORY
SELLER'S MARKET
BALANCED
8
3+ bdrms
BUYER'S MARKET
116
85
2 bdrms
522
35
<2 bdrms
. . . . 0 0 0 0 QD QD QD
209
S-L RATIO SALES INVENTORY
Current as of September 2, 2019. All data from the Real Estate Board of Greater Vancouver and Fraser Valley. The information set out herein (the “Information”) is intended for informational purposes only. RAR & RMS has not verified the information and does not represent, warrant or guarantee theaccuracy,correctnessandcompletenessof the information.RAR&RMSdoesnotassumeany responsibilityor liabilityofanykind inconnectionwith the informationand the recipient’s relianceupon the information.The recipientof the information should take stepsas the recipientmaydeemnecessary toverify the informationprior toplacinganyrelianceupon the information.The informationmaychangeandanypropertydescribed in the informationmaybewithdrawn from themarketatany timewithoutnoticeorobligation to therecipient fromRAR&RMS. 31
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