new westminster CONDO - SEPTEMBER 2 0 2 4
SALES TO LISTINGS RATIO 22% SELLERS' MARKET
▶ MARKET SUMMARY
AVERAGE PRICE
AVERAGE PSF PRICE ▼ 2% VS 2023
MEDIAN PRICE
TOTAL INVENTORY
SALES
▲ 2% VS 2023
▲ 0.2% VS 2023
▲ 70% VS 2023
▲ 11% VS 2023
There were 278 condo listings in New Westminster in September, 15% above August and 70% higher than September 2023. September condo sales increased by 15% month-over-month, to 61, and were 11% above September 2023. The sales-to-listing ratio for condos in New Westminster, at 22%, re(ected a sellers' market. The condo median price in September was $595,000, a 8% decrease from August and 0.2% above September 2023. The average sold price was $620,670, 5% below last month; the average PSF sale price was $704, up 0.1% to last month.
THIS MONTH No.
PREVIOUS MONTH
PREVIOUS YEAR
No.
% Change
No.
% Change
TOTAL INVENTORY TOTAL SALES SALES-LISTINGS RATIO MEDIAN SOLD PRICE AVERAGE SOLD PRICE AVERAGE PRICE PSF
$704 $620,670 $595,000 22% 61 278
$721 $608,236 $593,800 34% 55 164
0.2% -35% 11% 70%
$703 $652,543 $645,000 22% 53 241
15% 15%
0.1% -5% -8% -0.2%
-2% 2%
▶ AVG PRICE PER SQUARE FOOT
▶ RECENT TRENDS
● SEP 2023 ● SEP 2024
● SALES ● TOTAL INVENTORY ● MEDIAN PRICE
278
252
250
232
248
241
178
173
172
189
164
138
130
87
82
73
69
63
59
47
61
77
55
53
41
33
$645K
$645K
$645K
$640K
$626K
$632K
$618K
$610K
$610K
$594K
$599K
$595K
$593K
NEW WESTMINSTER
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
70
4+ bdrms
60
1
68%
50
6
40
3 bdrms
21
30
23% 23%
33
20
18%
17%
2 bdrms
12% 13%
172
9%
10
0
22
<$400K $400K-499K $500K-599K $600K-699K $700K-799K $800K-899K $900K-999K $1.0M+
<2 bdrms
S-L RATIO SALES INVENTORY
11 2 18%
19 13 68%
71 16 23%
66 15 23%
48 8 17%
26 3 12%
15 2 13%
22 2 9%
84
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. 31 ●
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