port moody CONDO - OCTOBER 2 0 2 4
SALES TO LISTINGS RATIO 39% SELLERS' MARKET
▶ MARKET SUMMARY
AVERAGE PRICE
AVERAGE PSF PRICE ▲ 0.1% VS 2023
MEDIAN PRICE
TOTAL INVENTORY
SALES
▲ 69% VS 2023
▲ 44% VS 2023
▼ 3% VS 2023
▼ 11% VS 2023
There were 93 condo listings in Port Moody in October, 16% above September and 69% higher than October 2023.
October condo sales increased by 29% month-over-month, to 36, and were 44% above October 2023.
THIS MONTH No.
PREVIOUS MONTH
PREVIOUS YEAR
No.
% Change
No.
% Change
The sales-to-listing ratio for condos in Port Moody, at 39%, re%ected a sellers' market.
TOTAL INVENTORY TOTAL SALES SALES-LISTINGS RATIO MEDIAN SOLD PRICE AVERAGE SOLD PRICE AVERAGE PRICE PSF
36 93
25 55
0.1% -3% -11% -15% 44% 69%
28 80
-7% -7% -15% 11% 29% 16%
The condo median price in October was $667,500, a 15% decrease from September and 11% below October 2023. The average sold price was $737,161, 7% below last month; the average PSF sale price was $850, down 7% to last month.
$850 $737,161 $667,500 39%
$849 $761,908 $750,000 45%
$913 $795,186 $784,875 35%
▶ AVG PRICE PER SQUARE FOOT
▶ RECENT TRENDS
● OCT 2023 ● OCT 2024
● SALES ● TOTAL INVENTORY ● MEDIAN PRICE
93
80
79
78
80
79
71
54
55
46
55
41
33
33
36
39
23
31
25
28
26
25
24
20
12
11
$852K
$801K
$800K
$785K
$771K
$760K
$750K
$710K
$690K
$683K
$668K
$655K
$638K
PORT MOODY
REBGV
▶ NUMBER OF BEDROOMS
▶ TOTAL LISTINGS & SALES BY PRICE RANGE
SELLERS' MARKET 21% +
BALANCED 12 - 20%
BUYERS' MARKET <12%
● SALES ● TOTAL INVENTORY
● SALES ● TOTAL INVENTORY ● S-L RATIO
40
4+ bdrms
30
5
3 bdrms
20
49%
7
36%
33%
30%
25%
19
10
2 bdrms
71
0
12
<$600K $600K-799K $800K-999K $1.0M-1.24M $1.25M-1.49M $1.5M-1.99M $2.0M-2.49M $2.5M+
<2 bdrms
S-L RATIO SALES INVENTORY
10 3 30%
37 18 49%
36 13 36%
4 1 25%
3 1 33%
1 0 n/a
2 0 n/a
15
Copyright © 2024 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 November 12, 2024. All data from Greater Vancouver REALTORS®, Fraser Valley Real Estate Board, Whistler Listing System, and 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. 37 ●
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