new westminster TOWNHOME - FEBRUARY 2 0 2 4
SALES TO LISTINGS RATIO 17% BALANCED MARKET
▶ MARKET SUMMARY
AVERAGE PRICE
AVERAGE PSF PRICE ▲ 3% VS 2023
MEDIAN PRICE
TOTAL LISTINGS
SALES
▲ 6% VS 2023
▲ 5% VS 2023
▲ 26% VS 2023
▲ 67% VS 2023
There were 29 townhome listings in New Westminster in February, 38% above January and 26% higher than February 2023. February townhome sales increased by 67% month-over-month, to 5, and were 67% above February 2023. The sales-to-listing ratio for townhomes in New Westminster, at 17%, re'ected a balanced market. The townhome median price in February was $1,015,000, a 7% increase from January and 5% above February 2023. The average sold price was $1,020,600, 13% above last month; the average PSF sale price was $646, down 7% to last month.
THIS MONTH No. $646 $1,020,600 $1,015,000 17% 5 29
PREVIOUS MONTH
PREVIOUS YEAR
No.
% Change
No.
% Change
TOTAL LISTINGS TOTAL SALES SALES-LISTINGS RATIO MEDIAN SOLD PRICE AVERAGE SOLD PRICE AVERAGE PRICE PSF
$625 $960,667 $970,000 13% 3 23
32% 67% 26%
$695 $904,600 $945,000 14% 3 21
-7% 13% 7% 21% 67% 38%
3% 6% 5%
▶ AVG PRICE PER SQUARE FOOT
▶ RECENT TRENDS
● FEB 2023 ● FEB 2024
● SALES ● TOTAL INVENTORY ● MEDIAN PRICE
29
29
29
29
26
26
25
24
23
19
21
21
17
17
20
10
6
5
7
5
6
5
3
3
3
$1.01M
$1.00M
$995K
$990K
$995K
$970K
$968K
$955K
$945K
$930K
$905K
$900K
$811K
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
14
4+ bdrms
12
4
10
4
8
3 bdrms
20
6
33%
29%
1
4
2 bdrms
14%
4
2
0
<2 bdrms
<$400K $400-599K $600-799K $800-999K $1.0M-1.24M $1.25M-1.49M $1.5M-1.99M $2M+
1
S-L RATIO SALES INVENTORY
2 0 n/a
1 0 n/a
7 2 29%
14 2 14%
3 1 33%
2 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 March 7, 2024. 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. 30 ●
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