the rennie review - June 2020

richmond

TOWNHOME  MAY 

AVERAGE PRICE

AVERAGE PSF PRICE 9 % UP

BENCHMARK PRICE 3 % UP

TOTAL LISTINGS

SALES

SALES TO LISTING RATIO

MARKET SUMMARY ›

BALANCED 16 %

41 % DOWN

17 % DOWN

1.0 % DOWN

The number of townhome listings in Richmond increased to 277 in May, 1.1% above the previous month but a 41% decrease vs May 2019. The 45 townhome sales in May were 7 above April but 9 lower year-over-year. The townhome sales-to-listings ratio increased to 16%, as Richmond’s townhome market remained balanced. The benchmark price for townhomes in May was $793,500, relatively unchanged from April and 3% higher than in May 2019. The average sold price was $809,134 (2% below April) with an average PSF sales price of $583 (rela- tively unchanged from April).

VS 

VS 

VS 

VS 

VS 

PREVIOUS MONTH

PREVIOUS YEAR

THIS MONTH No.

No. 274

% Change

No. 466

% Change

TOTAL LISTINGS

277

1.1% 18% 17%

-41% -17% 40%

TOTAL SALES

45

38

54

SALES-LISTINGS RATIO BENCHMARK PRICE AVERAGE SOLD PRICE AVERAGE PRICE PSF

16%

14%

12%

$793,500 $794,400 $809,134 $829,216

-0.1% $773,400 -2% $817,026 -0.2% $534

3%

-1.0%

$583

$584

9%

AVG PRICE PER SQUARE FOOT ›

HISTORICAL TREND

SALES

TOTAL INVENTORY

BENCHMARK PRICE

$773,400 $766,400 $770,100 $761,900 $771,000 $789,900 $793,500

493

466

445

369

309

288

277

74

68

68

65

61

54

45

RICHMOND

REBGV

TOTAL LISTINGS & SALES BY PRICE RANGE

NUMBER OF BEDROOMS

SALES

TOTAL INVENTORY

SL RATIO

SALES TOTAL INVENTORY





SELLER'S MARKET

  



BALANCED

11

4+ bdrms

BUYER'S MARKET



71



27





3 bdrms

176











7



<3 bdrms

. . . . 0 0 0 0 QD      QD QD                

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S-L RATIO SALES INVENTORY

Copyright © 2020 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 June 4, 2020. 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.

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