greater vancouver board area DETACHED - MARCH 2 0 2 4
SALES TO LISTINGS RATIO 17% BALANCED MARKET
▶ MARKET SUMMARY
AVERAGE PRICE
MEDIAN PRICE
TOTAL INVENTORY
SALES
▲ 2.0% VS 2023
▲ 5% VS 2023
▲ 27% VS 2023
▼ 10% VS 2023
There were 3,834 detached listings in the Greater Vancouver board area in March, 10% above February and 27% higher than March 2023. March detached home sales increased by 19% month-over-month, to 652, and were 10% below March 2023. The sales-to-listing ratio for detached in the Greater Vancouver board area, at 17%, reflected a balanced market. The detached median price in March was $1,912,500, a 0.6% decrease from February and 5% above March 2023.
THIS MONTH No. $2,236,813 $1,912,500 17% 652 3,834
PREVIOUS MONTH
PREVIOUS YEAR
No.
% Change
No.
% Change
TOTAL INVENTORY TOTAL SALES SALES-LISTINGS RATIO MEDIAN SOLD PRICE AVERAGE SOLD PRICE
$2,193,960 $1,818,000 24% 725 3,009
-29% -10% 27%
$2,189,322 $1,925,000 16% 547 3,476
19% 10%
2% -0.6% 8%
The average sold price was $2,236,813, 2% above last month and up 2% to March 2023.
2% 5%
▶ RATIO OF MEDIAN PRICES
▶ RECENT TRENDS
● DETACHED-TO-TOWNHOME ● TOWNHOME-TO-CONDO
● SALES ● TOTAL INVENTORY ● MEDIAN PRICE
4,350
4,020
3,886
4,434
3,834
4,007
3,951
1.82
1.79
1.75
3,505
3,476
3,009
3,298
3,168
3,147
1.52
1.49
1.43
1,013
567
547
504
725
368
383
652
821
792
680
580
545
$1.93M $1.91M
$1.82M $1.89M $1.91M $1.88M $1.81M $1.91M $1.86M $1.93M $1.88M
$1.80M $1.81M
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
700
600
500
400
39%
300
26%
26%
24%
200
14%
14%
10%
7%
100
4%
4%
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
200 28 14%
148 58 39%
286 74 26%
695 181 26%
574 137 24%
511 73 14%
593 60 10%
304 20 7%
154 6 4%
369 15 4%
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. 8 ●
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