new westminster DETACHED - SEPTEMBER 2 0 2 4
SALES TO LISTINGS RATIO 6% BUYERS' MARKET
▶ MARKET SUMMARY
AVERAGE PRICE
MEDIAN PRICE
TOTAL INVENTORY
SALES
▲ 41% VS 2023
▼ 8% VS 2023
▼ 5% VS 2023
▼ 30% VS 2023
There were 127 detached listings in New Westminster in September, 10% above August and 41% higher than September 2023. September detached home sales decreased by 56% month-over-month, to 7, and were 30% below September 2023.
THIS MONTH No. $1,606,000 $1,645,000 6% 7 127
PREVIOUS MONTH
PREVIOUS YEAR
No.
% Change
No.
% Change
The sales-to-listing ratio for detached in New Westminster, at 6%, re(ected a buyers' market.
TOTAL INVENTORY TOTAL SALES SALES-LISTINGS RATIO MEDIAN SOLD PRICE AVERAGE SOLD PRICE
10 90
-50% -30% 41%
$1,781,250 $1,637,500 14% 16 115
-10% 0.5% -60% -56% 10%
The detached median price in September was $1,645,000, a 0.5% increase from August and 5% below September 2023. The average sold price was $1,606,000, 10% below last month and down 8% to September 2023.
$1,754,600 $1,740,000 11%
-8% -5%
▶ RATIO OF MEDIAN PRICES
▶ RECENT TRENDS
● DETACHED-TO-TOWNHOME ● TOWNHOME-TO-CONDO
● SALES ● TOTAL INVENTORY ● MEDIAN PRICE
127
118
126
122
121
101
115
1.85
1.83
89
90
1.73 1.69
80
74
1.49
68
67
1.39
21
18
18
16
16
10
10
7
10
7
13
12
14
$1.90M
$1.74M $1.62M
$1.58M $1.57M $1.64M $1.65M
$1.56M $1.55M $1.66M
$1.43M
$1.29M $1.40M
23-Sep
24-Aug
24-Sep
▶ TOTAL LISTINGS & SALES BY PRICE RANGE
SELLERS' MARKET 21% +
BALANCED 12 - 20%
BUYERS' MARKET <12%
● SALES ● TOTAL INVENTORY ● S-L RATIO
40
30
20
10
14%
13%
5%
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
7 0 n/a
7 1 14%
19 1 5%
40 5 13%
20 0 n/a
11 0 n/a
16 0 n/a
5 0 n/a
1 0 n/a
1 0 n/a
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 October 9, 2024. All data from Greater Vancouver REALTORS®, Fraser Valley Real Estate Board, Whistler Listing 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. 29 ●
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