richmond TOWNHOME - OCTOBER 2 0 2 4
SALES TO LISTINGS RATIO 17% BALANCED MARKET
▶ MARKET SUMMARY
AVERAGE PRICE
AVERAGE PSF PRICE ▼ 2% VS 2023
MEDIAN PRICE
TOTAL INVENTORY
SALES
▲ 3% VS 2023
▲ 8% VS 2023
▲ 65% VS 2023
▲ 23% VS 2023
There were 308 townhome listings in Richmond in October, 0.3% below September and 65% higher than October 2023. October townhome sales increased by 15% month-over-month, to 53, and were 23% above October 2023. The sales-to-listing ratio for townhomes in Richmond, at 17%, re(ected a balanced market. The townhome median price in October was $1,120,000, a 2% decrease from September and 8% above October 2023. The average sold price was $1,108,935, 6% below last month; the average PSF sale price was $735, down 5% to last month.
THIS MONTH No. $735 $1,108,935 $1,120,000 17% 53 308
PREVIOUS MONTH
PREVIOUS YEAR
No.
% Change
No.
% Change
TOTAL INVENTORY TOTAL SALES SALES-LISTINGS RATIO MEDIAN SOLD PRICE AVERAGE SOLD PRICE AVERAGE PRICE PSF
$752 $1,075,158 $1,037,000 23% 43 187
-2% 3% 8% -25% 23% 65%
$773 $1,180,133 $1,143,500 15% 46 309
16% 15% -0.3%
-5% -6% -2%
▶ AVG PRICE PER SQUARE FOOT
▶ RECENT TRENDS
● OCT 2023 ● OCT 2024
● SALES ● TOTAL INVENTORY ● MEDIAN PRICE
308
277
309
298
218
238
192
184
187
156
146
145
140
68
56
54
53
43
25
25
60
57
55
46
39
35
$1.19M $1.22M $1.20M $1.15M $1.16M $1.20M $1.20M
$1.08M $1.14M $1.12M
$1.04M $1.09M $1.10M
RICHMOND
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
100%+
9
100
4+ bdrms
78
80
38
3 bdrms
60
194
40
27%
6
19%
2 bdrms
15%
13%
34
20
7%
0
<2 bdrms
<$600K $600K-799K $800K-999K $1.0M-1.24M $1.25M-1.49M $1.5M-1.99M $2.0M-2.49M $2.5M+
2
S-L RATIO SALES INVENTORY
1 3 300%
13 2 15%
52 14 27%
89 17 19%
109 14 13%
42 3 7%
2 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 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. 39 ●
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