new westminster CONDO - FEBRUARY 2 0 2 4
SALES TO LISTINGS RATIO 37% SELLERS' MARKET
▶ MARKET SUMMARY
AVERAGE PRICE
AVERAGE PSF PRICE ▲ 0.2% VS 2023
MEDIAN PRICE
TOTAL LISTINGS
SALES
▲ 1.1% VS 2023
▲ 39% VS 2023
▲ 21% VS 2023
▼ 3% VS 2023
There were 169 condo listings in New Westminster in February, 22% above January and 39% higher than February 2023. February condo sales increased by 54% month-over-month, to 63, and were 21% above February 2023. The sales-to-listing ratio for condos in New Westminster, at 37%, re'ected a sellers' market. The condo median price in February was $610,000, a 5% decrease from January and 3% below February 2023. The average sold price was $652,619, 3% above last month; the average PSF sale price was $723, up 0.3% to last month.
THIS MONTH No.
PREVIOUS MONTH
PREVIOUS YEAR
No.
% Change
No.
% Change
TOTAL LISTINGS TOTAL SALES SALES-LISTINGS RATIO MEDIAN SOLD PRICE AVERAGE SOLD PRICE AVERAGE PRICE PSF
$723 $652,619 $610,000 37% 63 169
$721 $645,838 $630,500 43% 52 122
0.2% 1.1% -3% -13% 21% 39%
$721 $633,605 $640,000 30% 41 138
0.3% 3% -5% 25% 54% 22%
▶ AVG PRICE PER SQUARE FOOT
▶ RECENT TRENDS
● FEB 2023 ● FEB 2024
● SALES ● TOTAL INVENTORY ● MEDIAN PRICE
173
181
169
178
172
164
130
127
148
138
122
130
121
96
78
76
82
59
63
72
47
62
55
52
41
33
$650K
$648K
$640K
$631K
$629K
$610K
$613K
$610K
$610K
$599K
$594K
$593K
$583K
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
80
70
4+ bdrms
4
60
71%
50
3
61%
3 bdrms
40
14
30
31%
36
20
2 bdrms
18%
101
10
0
24
<$400K $400-599K $600-799K $800-999K $1.0M-1.24M $1.25M-1.49M $1.5M-1.99M $2M+
<2 bdrms
S-L RATIO SALES INVENTORY
3 0 n/a
49 30 61%
75 23 31%
28 5 18%
7 5 71%
3 0 n/a
3 0 n/a
1 0 n/a
50
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. 31 ●
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