vancouver region 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
▲ 6% VS 2023
▲ 33% VS 2023
▼ 14% VS 2023
There were 6,475 detached listings in the Vancouver Region in March, 12% above February and 33% higher than March 2023. March detached home sales increased by 13% month-over-month, to 1,102, and were 14% below March 2023. The sales-to-listing ratio for detached in the Vancouver Region, at 17%, reflected a balanced market.
THIS MONTH No.
PREVIOUS MONTH
PREVIOUS YEAR
No.
% Change
No.
% Change
TOTAL INVENTORY TOTAL SALES SALES-LISTINGS RATIO MEDIAN SOLD PRICE AVERAGE SOLD PRICE
1,102 6,475
1,281 4,879
-35% -14% 33%
$1,920,953 $1,662,500 17% 974 5,771
3% 1.6% 0.8% 13% 12%
The detached median price in March was $1,688,500, a 1.6% increase from February and 6% above March 2023.
$1,980,683 $1,688,500 17%
$1,887,594 $1,590,000 26%
The average sold price was $1,980,683, 3% above last month and up 5% to March 2023.
5% 6%
▶ RATIO OF MEDIAN PRICES
▶ RECENT TRENDS
● DETACHED-TO-TOWNHOME ● TOWNHOME-TO-CONDO
● SALES ● TOTAL INVENTORY ● MEDIAN PRICE
7,496
6,872
6,812
7,569
6,610
6,952
6,475
5,959
1.84
1.78
1.78
5,771
5,574
4,879
5,197
5,077
1.45
1.42
1.38
1,641
1,561
974
911
1,281
809
713
652
1,102
1,358
1,111
993
903
$1.66M $1.75M $1.69M $1.67M $1.70M $1.71M $1.73M
$1.61M $1.53M
$1.59M
$1.60M $1.66M $1.69M
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
1,600
1,400
1,200
1,000
800
33%
600
27%
22%
21%
19%
400
12%
9%
6%
200
3%
3%
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
308 64 21%
365 119 33%
774 212 27%
1,500 327 22%
931 175 19%
756 91 12%
781 68 9%
382 23 6%
205 7 3%
473 16 3%
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. 5 ●
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