richmond DETACHED - FEBRUARY 2 0 2 4
SALES TO LISTINGS RATIO 17% BALANCED MARKET
▶ MARKET SUMMARY
AVERAGE PRICE
MEDIAN PRICE
TOTAL LISTINGS
SALES
▲ 13% VS 2023
▲ 19% VS 2023
▲ 11% VS 2023
▲ 14% VS 2023
There were 387 detached listings in Richmond in February, 5% above January and 11% higher than February 2023. February detached home sales increased by 86% month-over-month, to 67, and were 14% above February 2023. The sales-to-listing ratio for detached in Richmond, at 17%, re'ected a balanced market.
THIS MONTH No. $2,416,190 $2,200,000 17% 67 387
PREVIOUS MONTH
PREVIOUS YEAR
No.
% Change
No.
% Change
TOTAL LISTINGS TOTAL SALES SALES-LISTINGS RATIO MEDIAN SOLD PRICE AVERAGE SOLD PRICE
$2,130,909 $1,850,000 17% 59 349
13% 19% 2% 14% 11%
$2,486,360 $2,319,000 10% 36 368
-3% -5% 77% 86% 5%
The detached median price in February was $2,200,000, a 5% decrease from January and 19% above February 2023.
The average sold price was $2,416,190, 3% below last month and up 13% to February 2023.
▶ RATIO OF MEDIAN PRICES
▶ RECENT TRENDS
● DETACHED-TO-TOWNHOME ● TOWNHOME-TO-CONDO
● SALES ● TOTAL INVENTORY ● MEDIAN PRICE
458
441
426
481
464
459
387
1.95
349
378
376
368
1.80
1.79
343
340
1.73
1.67
1.59
109
93
92
73
55
40
67
36
92
59
63
57
51
$2.32M $2.20M
$2.25M
$2.00M $2.02M $2.06M $2.01M $2.10M $1.85M
$1.98M $1.91M
$1.95M $1.85M
23-Feb
24-Jan
24-Feb
▶ TOTAL LISTINGS & SALES BY PRICE RANGE
SELLERS' MARKET 21% +
BALANCED 12 - 20%
BUYERS' MARKET <12%
● SALES ● TOTAL INVENTORY ● S-L RATIO
140
100%
120
100
80
60
32%
40
20%
13%
20
9%
0
<$600K
$600-799K
$800-999K
$1.0M-1.24M $1.25M-1.49M $1.5M-1.99M
$2.0M-2.49M
$2.5M-2.99M
$3M+
S-L RATIO SALES INVENTORY
3 0 n/a
2 0 n/a
1 0 n/a
0 1 n/a
3 3 100%
76 24 32%
71 14 20%
103 13 13%
128 12 9%
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. 38 ●
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