richmond DETACHED - MARCH 2 0 2 4
SALES TO LISTINGS RATIO 17% BALANCED MARKET
▶ MARKET SUMMARY
AVERAGE PRICE
MEDIAN PRICE
TOTAL INVENTORY
SALES
▲ 5% VS 2023
▲ 24% VS 2023
▼ 3% VS 2023
▼ 22% VS 2023
There were 423 detached listings in Richmond in March, 8% above February and 24% higher than March 2023. March detached home sales increased by 9% month-over-month, to 73, and were 22% below March 2023. The sales-to-listing ratio for detached in Richmond, at 17%, reflected a balanced market.
THIS MONTH No. $2,201,846 $2,095,000 17% 73 423
PREVIOUS MONTH
PREVIOUS YEAR
No.
% Change
No.
% Change
TOTAL INVENTORY TOTAL SALES SALES-LISTINGS RATIO MEDIAN SOLD PRICE AVERAGE SOLD PRICE
$2,276,211 $1,995,000 27% 93 340
-37% -22% 24%
$2,416,190 $2,200,000 17% 67 390
9% 8%
The detached median price in March was $2,095,000, a 5% decrease from February and 5% above March 2023.
-9% -5% 0.5%
The average sold price was $2,201,846, 9% below last month and down 3% to March 2023.
-3% 5%
▶ RATIO OF MEDIAN PRICES
▶ RECENT TRENDS
● DETACHED-TO-TOWNHOME ● TOWNHOME-TO-CONDO
● SALES ● TOTAL INVENTORY ● MEDIAN PRICE
458
441
426
481
464
459
423
1.81
1.80
390
1.75
378
376
340
368
1.67
343
1.63
1.63
109
92
73
67
93
55
73
40
36
92
63
57
51
$2.32M
$2.25M
$2.20M $2.10M
$2.00M $2.02M $2.06M $2.01M $2.10M
$1.98M $1.91M
$1.95M $1.85M
23-Mar
24-Feb
24-Mar
▶ TOTAL LISTINGS & SALES BY PRICE RANGE
SELLERS' MARKET 21% +
BALANCED 12 - 20%
BUYERS' MARKET <12%
● SALES ● TOTAL INVENTORY ● S-L RATIO
100
80
60
35%
40
20%
20%
19%
17%
20
7%
0
<$1M
$1.0M-1.24M $1.25M-1.49M $1.5M-1.99M $2.0M-2.49M $2.5M-2.99M $3.0M-3.99M $4.0M-4.99M $5.0M-5.99M
$6.0M+
S-L RATIO SALES INVENTORY
5 1 20%
0 1 n/a
6 1 17%
79 28 35%
84 17 20%
101 19 19%
87 6 7%
33 0 n/a
8 0 n/a
20 0 n/a
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 April 10, 2024. All data from Greater Vancouver REALTORS®, Fraser Valley Real Estate Board, Whistler Listings 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. 38 ●
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