vancouver region TOWNHOME - MARCH 2 0 2 4
SALES TO LISTINGS RATIO 39% SELLERS' MARKET
▶ MARKET SUMMARY
AVERAGE PRICE
AVERAGE PSF PRICE ▲ 8% VS 2023
MEDIAN PRICE
TOTAL INVENTORY
SALES
▲ 9% VS 2023
▲ 10% VS 2023
▲ 29% VS 2023
▲ 4% VS 2023
There were 2,026 townhome listings in the Vancouver Region in March, 9% above February and 29% higher than March 2023. March townhome sales increased by 31% month-over-month, to 784, and were 4% above March 2023. The sales-to-listing ratio for townhomes in the Vancouver Region, at 39%, reflected a sellers' market. The townhome median price in March was $950,000, a 1.3% increase from February and 10% above March 2023. The average sold price was $1,038,894, 1.8% above last month; the average PSF sale price was $676, up 1.4% to last month.
THIS MONTH No. $676 $1,038,894 $950,000 39% 784 2,026
PREVIOUS MONTH
PREVIOUS YEAR
No.
% Change
No.
% Change
TOTAL INVENTORY TOTAL SALES SALES-LISTINGS RATIO MEDIAN SOLD PRICE AVERAGE SOLD PRICE AVERAGE PRICE PSF
$625 $949,487 $865,000 48% 757 1,572
8% 9% 10% -20% 4% 29%
$666 $1,020,281 $937,850 32% 598 1,857
1.4% 1.8% 1.3% 20% 31% 9%
▶ AVG PRICE PER SQUARE FOOT
▶ RECENT TRENDS
● MAR 2023 ● MAR 2024
● SALES ● TOTAL INVENTORY ● MEDIAN PRICE
2,151
2,000
1,885
2,026
1,857
1,840
2,087
1,790
1,882
1,572
1,590
1,588
1,546
944
947
784
757
784
767
481
669
598
580
518
453
365
$950K
$938K
$922K
$915K
$920K
$910K
$920K
$910K
$899K
$900K
$900K
$889K
$865K
Vancouver Region
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
700
171
600
4+ bdrms
437
500
433
400
3 bdrms
1,055
47%
42% 44%
300
40%
34%
25%
165
200
2 bdrms
495
10%
9%
100
0
15
<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+
39
S-L RATIO SALES INVENTORY
95 32 34%
325 152 47%
639 271 42%
372 165 44%
243 96 40%
216 55 25%
67 6 9%
69 7 10%
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. 6 ●
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