west vancouver DETACHED - FEBRUARY 2 0 2 4
SALES TO LISTINGS RATIO 10% BUYERS' MARKET
▶ MARKET SUMMARY
AVERAGE PRICE
MEDIAN PRICE
TOTAL LISTINGS
SALES
▲ 24% VS 2023
▲ 50% VS 2023
▼ 15% VS 2023
▼ 11% VS 2023
There were 375 detached listings in West Vancouver in February, 7% above January and 24% higher than February 2023. February detached home sales increased by 160% month-over-month, to 39, and were 50% above February 2023. The sales-to-listing ratio for detached in West Vancouver, at 10%, re(ected a buyers' market.
THIS MONTH No. $3,057,502 $2,550,000 10% 39 375
PREVIOUS MONTH
PREVIOUS YEAR
No.
% Change
No.
% Change
TOTAL LISTINGS TOTAL SALES SALES-LISTINGS RATIO MEDIAN SOLD PRICE AVERAGE SOLD PRICE
$3,577,534 $2,867,000 9% 26 303
-15% -11% 21% 50% 24%
$3,473,467 $2,800,000 4% 15 351
-12% -9% 143% 160% 7%
The detached median price in February was $2,550,000, a 9% decrease from January and 11% below February 2023.
The average sold price was $3,057,502, 12% below last month and down 15% to February 2023.
▶ RATIO OF MEDIAN PRICES
▶ RECENT TRENDS
● DETACHED-TO-TOWNHOME ● TOWNHOME-TO-CONDO
● SALES ● TOTAL INVENTORY ● MEDIAN PRICE
488
448
444
423
466
379
437
2.10
375
368
351
303
332
305
1.69
1.42
1.30
1.29
46
41
39
34
32
33
27
28
26
1.09
22
15
39
26
$3.55M
$3.48M $3.26M
$3.42M
$2.98M $3.03M $2.80M
$2.89M $3.08M
$2.87M $2.78M
$2.87M
$2.55M
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
300
250
200
70%
150
50%
100
50
7%
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+
S-L RATIO SALES INVENTORY
4 0 n/a
1 0 n/a
6 3 50%
23 16 70%
56 4 7%
285 16 6%
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. 54 ●
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