richmond DETACHED - SEPTEMBER 2 0 2 4
SALES TO LISTINGS RATIO 8% BUYERS' MARKET
▶ MARKET SUMMARY
AVERAGE PRICE
MEDIAN PRICE
TOTAL INVENTORY
SALES
▲ 0.1% VS 2023
▲ 1.5% VS 2023
▲ 21% VS 2023
▼ 33% VS 2023
There were 584 detached listings in Richmond in September, 4% above August and 21% higher than September 2023. September detached home sales increased by 11% month-over-month, to 49, and were 33% below September 2023. The sales-to-listing ratio for detached in Richmond, at 8%, re'ected a buyers' market. The detached median price in September was $1,880,000, a 14% decrease from August and 1.5% above September 2023. The average sold price was $2,057,261, 11% below last month and up 0.1% to September 2023.
THIS MONTH No. $2,057,261 $1,880,000 8% 49 584
PREVIOUS MONTH
PREVIOUS YEAR
No.
% Change
No.
% Change
TOTAL INVENTORY TOTAL SALES SALES-LISTINGS RATIO MEDIAN SOLD PRICE AVERAGE SOLD PRICE
$2,054,724 $1,853,000 15% 73 481
0.1% 1.5% -45% -33% 21%
$2,323,349 $2,175,300 8% 44 561
-11% -14% 7% 11% 4%
▶ RATIO OF MEDIAN PRICES
▶ RECENT TRENDS
● DETACHED-TO-TOWNHOME ● TOWNHOME-TO-CONDO
● SALES ● TOTAL INVENTORY ● MEDIAN PRICE
584
537
512
561
480
464
481
441
508
2.01
424
1.79
390
376
368
1.691.71
1.64
1.62
86
72
68
59
55
51
44
40
73
36
49
77
72
$2.32M $2.19M
$2.25M
$2.19M $2.18M
$2.09M $2.06M $2.20M
$2.01M
$1.98M $1.91M
$1.88M
$1.85M
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
160
140
120
100
80
60
19%
40
11%
8%
7%
20
2%
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
9 0 n/a
1 0 n/a
19 2 11%
150 28 19%
116 9 8%
117 8 7%
105 2 2%
39 0 n/a
10 0 n/a
18 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. 38 ●
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