richmond CONDO - SEPTEMBER 2 0 2 4
SALES TO LISTINGS RATIO 13% BALANCED MARKET
▶ MARKET SUMMARY
AVERAGE PRICE
AVERAGE PSF PRICE ▼ 0.4% VS 2023
MEDIAN PRICE
TOTAL INVENTORY
SALES
▲ 0.2% VS 2023
▲ 53% VS 2023
▼ 1.9% VS 2023
▼ 22% VS 2023
There were 805 condo listings in Richmond in September, 9% above August and 53% higher than September 2023. September condo sales decreased by 4% month-over-month, to 101, and were 22% below September 2023. The sales-to-listing ratio for condos in Richmond, at 13%, re'ected a balanced market. The condo median price in September was $645,000, a 2% decrease from August and 0.2% above September 2023. The average sold price was $694,913, 3% below last month; the average PSF sale price was $831, up 2% to last month.
THIS MONTH No.
PREVIOUS MONTH
PREVIOUS YEAR
No. 130 527
% Change
No. 105 740
% Change
TOTAL INVENTORY TOTAL SALES SALES-LISTINGS RATIO MEDIAN SOLD PRICE AVERAGE SOLD PRICE AVERAGE PRICE PSF
101 805
-0.4% -1.9% 0.2% -49% -22% 53%
2% -3% -2% -12% -4% 9%
$831 $694,913 $645,000 13%
$834 $708,412 $644,000 25%
$812 $716,046 $659,900 14%
▶ AVG PRICE PER SQUARE FOOT
▶ RECENT TRENDS
● SEP 2023 ● SEP 2024
● SALES ● TOTAL INVENTORY ● MEDIAN PRICE
805
718
662
740
680
563
504
599
527
541
543
446
444
182
139
126
97
130
151
101
142
131
107
105
96
92
$730K
$734K
$726K
$703K
$700K
$698K
$700K
$688K
$690K
$679K
$660K
$644K
$645K
RICHMOND
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
250
4+ bdrms
20
200
8
150
3 bdrms
131
100
24%
55
15%
2 bdrms
50
448
8%
7%
6%
2%
0
38
<$600K $600K-799K $800K-999K $1.0M-1.24M $1.25M-1.49M $1.5M-1.99M $2.0M-2.49M $2.5M+
<2 bdrms
S-L RATIO SALES INVENTORY
153 36 24%
260 40 15%
215 17 8%
81 6 7%
42 1 2%
26 0 n/a
10 0 n/a
18 1 6%
206
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. 40 ●
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