vancouver region DETACHED - FEBRUARY 2 0 2 4
SALES TO LISTINGS RATIO 17% BALANCED MARKET
▶ MARKET SUMMARY
AVERAGE PRICE
MEDIAN PRICE
TOTAL LISTINGS
SALES
▲ 4% VS 2023
▲ 6% VS 2023
▲ 22% VS 2023
▲ 20% VS 2023
There were 5,855 detached listings in the Vancouver Region in February, 10% above January and 22% higher than February 2023. February detached home sales increased by 37% month-over-month, to 1,000, and were 20% above February 2023. The sales-to-listing ratio for detached in the Vancouver Region, at 17%, re&ected a balanced market.
THIS MONTH No.
PREVIOUS MONTH
PREVIOUS YEAR
No.
% Change
No.
% Change
TOTAL LISTINGS TOTAL SALES SALES-LISTINGS RATIO MEDIAN SOLD PRICE AVERAGE SOLD PRICE
1,000 5,855
$1,814,440 $1,550,000 17% 834 4,781
4% 6% -2% 20% 22%
$1,834,076 $1,580,000 14% 732 5,302
24% 37% 10%
The detached median price in February was $1,650,000, a 4% increase from January and 6% above February 2023.
$1,882,363 $1,650,000 17%
The average sold price was $1,882,363, 3% above last month and up 4% to February 2023.
3% 4%
▶ RATIO OF MEDIAN PRICES
▶ RECENT TRENDS
● DETACHED-TO-TOWNHOME ● TOWNHOME-TO-CONDO
● SALES ● TOTAL INVENTORY ● MEDIAN PRICE
6,986
6,926
7,688
6,714
7,611
7,066
6,067
1.80
5,855
1.77
1.76
5,676
5,302
4,781
5,178
4,972
1.45
1.41
1.39
1,683
1,605
1,320
942
831
670
1,000
1,387
834
1,189
1,035
927
732
$1.65M $1.71M $1.68M $1.62M $1.67M $1.69M $1.70M
$1.60M $1.50M
$1.58M $1.65M
$1.55M $1.56M
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
1500
1000
38%
33%
28%
500
25%
22%
19%
18%
10%
6%
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+ 1,682 107 6%
S-L RATIO SALES INVENTORY
124 23 19%
69 23 33%
183 45 25%
308 118 38%
654 184 28%
1,335 290 22%
805 143 18%
695 67 10%
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. 5 ●
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