richmond CONDO - FEBRUARY 2 0 2 5
SALES TO LISTINGS RATIO 13% BALANCED MARKET
▶ MARKET SUMMARY
AVERAGE PRICE
AVERAGE PSF PRICE ▼ 8% VS 2024
MEDIAN PRICE
TOTAL INVENTORY
SALES
▲ 47% VS 2024
▼ 12% VS 2024
▼ 9% VS 2024
▼ 8% VS 2024
There were 739 condo listings in Richmond in February, 16% above January and 47% higher than February 2024.
February condo sales decreased by 6% month-over-month, to 98, and were 8% below February 2024.
THIS MONTH No.
PREVIOUS MONTH
PREVIOUS YEAR
No. 107 504
% Change
No. 104 636
% Change
The sales-to-listing ratio for condos in Richmond, at 13%, re&ected a balanced market.
TOTAL INVENTORY TOTAL SALES SALES-LISTINGS RATIO MEDIAN SOLD PRICE AVERAGE SOLD PRICE AVERAGE PRICE PSF
$794 $711,207 $664,000 13% 98 739
-8% -12% -9% -38% -8% 47%
0.1% 0% -6% -19% -6% 16%
The condo median price in February was $664,000, a 6% decrease from January and 9% below February 2024. The average sold price was $711,207, 0.0% above last month; the average PSF sale price was $794, up 0.1% to last month.
$866 $804,473 $730,000 21%
$793 $711,013 $705,037 16%
▶ AVG PRICE PER SQUARE FOOT
▶ RECENT TRENDS
● FEB 2024 ● FEB 2025
● SALES ● TOTAL INVENTORY ● MEDIAN PRICE
805
757
718
739
662
755
740
680
636
628
599
504
543
182
139
139
121
107
151
98
142
131
120
105
104
101
$730K
$734K
$726K
$703K
$705K
$700K
$694K
$690K
$670K
$660K
$660K
$664K
$645K
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
250
4+ bdrms
16
200
7
150
3 bdrms
110
100
66
19% 19%
2 bdrms
50
397
8%
8%
5%
2%
0
25
<$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
151 29 19%
248 48 19%
187 15 8%
74 4 5%
42 1 2%
16 0 n/a
8 0 n/a
13 1 8%
216
Copyright © 2025 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 10, 2025. 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. 40 ●
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