vancouver west DETACHED - FEBRUARY 2 0 2 4
SALES TO LISTINGS RATIO 13% BALANCED MARKET
▶ MARKET SUMMARY
AVERAGE PRICE
MEDIAN PRICE
TOTAL LISTINGS
SALES
▲ 8% VS 2023
▲ 8% VS 2023
▼ 3% VS 2023
▼ 1.5% VS 2023
There were 483 detached listings in Vancouver West in February, 8% above January and 3% lower than February 2023. February detached home sales increased by 67% month-over-month, to 65, and were 1.5% below February 2023. The sales-to-listing ratio for detached in Vancouver West, at 13%, re(ected a balanced market.
THIS MONTH No. $3,786,248 $3,630,000 13% 65 483
PREVIOUS MONTH
PREVIOUS YEAR
No.
% Change
No.
% Change
TOTAL LISTINGS TOTAL SALES SALES-LISTINGS RATIO MEDIAN SOLD PRICE AVERAGE SOLD PRICE
$3,521,298 $3,356,500 13% 66 498
8% 8% 1.5% -1.5% -3%
$3,434,752 $3,070,000 9% 39 446
10% 18% 54% 67% 8%
The detached median price in February was $3,630,000, a 18% increase from January and 8% above February 2023.
The average sold price was $3,786,248, 10% above last month and up 8% to February 2023.
▶ RATIO OF MEDIAN PRICES
▶ RECENT TRENDS
● DETACHED-TO-TOWNHOME ● TOWNHOME-TO-CONDO
● SALES ● TOTAL INVENTORY ● MEDIAN PRICE
570
558
553
597
591
491
554
498
483
516
2.40
2.40
483
479
446
1.91
1.76
1.74
1.68
109
96
71
71
54
55
39
34
66
65
94
75
68
$4.07M
$3.98M
$3.63M
$3.51M
$3.48M $3.50M $3.68M $3.36M
$3.40M $3.36M $3.33M
$3.15M
$3.07M
23-Feb
24-Jan
24-Feb
▶ TOTAL LISTINGS & SALES BY PRICE RANGE
SELLERS' MARKET 21% +
BALANCED 12 - 20%
BUYERS' MARKET <12%
● SALES ● TOTAL INVENTORY ● S-L RATIO
400
300
200
37%
33%
100
11%
10%
0
<$600K
$600-799K
$800-999K
$1.0M-1.24M $1.25M-1.49M $1.5M-1.99M
$2.0M-2.49M
$2.5M-2.99M
$3M+
S-L RATIO SALES INVENTORY
1 0 n/a
1 0 n/a
3 1 33%
21 2 10%
38 14 37%
419 48 11%
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 March 7, 2024. All data from Real Estate Board of Greater Vancouver and Fraser Valley & 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. 51 ●
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