richmond TOWNHOME - FEBRUARY 2 0 2 4
SALES TO LISTINGS RATIO 40% SELLERS' MARKET
▶ MARKET SUMMARY
AVERAGE PRICE
AVERAGE PSF PRICE ▲ 4% VS 2023
MEDIAN PRICE
TOTAL LISTINGS
SALES
▲ 6% VS 2023
▲ 5% VS 2023
▲ 22% VS 2023
▼ 11% VS 2023
There were 140 townhome listings in Richmond in February, 4% below January and 11% lower than February 2023. February townhome sales increased by 60% month-over-month, to 56, and were 22% above February 2023. The sales-to-listing ratio for townhomes in Richmond, at 40%, re'ected a sellers' market. The townhome median price in February was $1,219,300, a 2% increase from January and 5% above February 2023. The average sold price was $1,223,488, 7% above last month; the average PSF sale price was $805, up 9% to last month.
THIS MONTH No. $805 $1,223,488 $1,219,300 40% 56 140
PREVIOUS MONTH
PREVIOUS YEAR
No.
% Change
No.
% Change
TOTAL LISTINGS TOTAL SALES SALES-LISTINGS RATIO MEDIAN SOLD PRICE AVERAGE SOLD PRICE AVERAGE PRICE PSF
$774 $1,150,354 $1,166,250 29% 46 157
37% 22% -11%
$737 $1,147,125 $1,192,000 24% 35 146
67% 60% -4%
9% 7% 2%
4% 6% 5%
▶ AVG PRICE PER SQUARE FOOT
▶ RECENT TRENDS
● FEB 2023 ● FEB 2024
● SALES ● TOTAL INVENTORY ● MEDIAN PRICE
182
190
166
187
184
177
167
161
160
157
156
140
146
82
72
68
60
71
70
56
43
49
46
35
25
25
$1.22M $1.17M
$1.19M $1.22M
$1.10M $1.15M $1.07M $1.17M
$1.13M $1.10M
$1.04M $1.09M $1.10M
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
50
100%
11
4+ bdrms
40
34
30
35
3 bdrms
90
50%
46%
46%
20
36%
33%
10
25%
2 bdrms
10
15
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 1 50%
3 1 33%
26 12 46%
47 17 36%
41 19 46%
20 5 25%
1 1 100%
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. 39 ●
Made with FlippingBook - professional solution for displaying marketing and sales documents online