CONDO MAY richmond
AVERAGE PRICE
AVERAGE PSF PRICE 4 % UP
BENCHMARK PRICE 2 % UP
TOTAL LISTINGS
SALES
SALES TO LISTING RATIO
MARKET SUMMARY ›
7 % UP
31 % DOWN
BUYER’S 10 %
52 % DOWN
The number of condo listings in Richmond increased by 8% between April and May (to 627), but decreased by 31% vs May 2019. The number of condo sales decreased by 1.5% vs April (to 64) and fell by 52% vs May 2019. The sales-to-listings ratio fell to 10%, as Richmond’s condo market remained in buyer’s market territory. The condo benchmark price was $652,800 in May, unchanged from April and 2% higher vs May 2019. The average sold price was $588,920 (up 6% vs April) while the average PSF sales price was $673 (3% higher vs April).
VS
VS
VS
VS
VS
PREVIOUS MONTH
PREVIOUS YEAR
THIS MONTH No.
No. 581
% Change
No. 914 132 14%
% Change
TOTAL LISTINGS
627
8%
-31% -52% -29%
TOTAL SALES
64
65
-1.5%
SALES-LISTINGS RATIO BENCHMARK PRICE AVERAGE SOLD PRICE AVERAGE PRICE PSF
10%
11%
-9%
$652,800 $652,800 $588,920 $556,862
0.0% $637,900 6% $549,735
2% 7% 4%
$673
$654
3%
$649
AVG PRICE PER SQUARE FOOT ›
HISTORICAL TREND
›
SALES
TOTAL INVENTORY
BENCHMARK PRICE
$637,900 $622,500 $627,100 $627,100 $634,600 $655,400 $652,800
915
914
850
706
627
612
559
166
148
136
134
132
101
64
RICHMOND
REBGV
TOTAL LISTINGS & SALES BY PRICE RANGE
NUMBER OF BEDROOMS
›
›
SALES
TOTAL INVENTORY
S L RATIO
SALES TOTAL INVENTORY
SELLER'S MARKET
BALANCED
8
3+ bdrms
BUYER'S MARKET
103
33
2 bdrms
353
23
<2 bdrms
. . . . 0 0 0 0 QD QD
171
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 All information is subject to change and any property may be withdrawn from the market at any time without notice or obligation to the recipient from rennie group of companies.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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