vancouver region TOWNHOME - FEBRUARY 2 0 2 4
SALES TO LISTINGS RATIO 32% SELLERS' MARKET
▶ MARKET SUMMARY
AVERAGE PRICE
AVERAGE PSF PRICE ▲ 4% VS 2023
MEDIAN PRICE
TOTAL LISTINGS
SALES
▲ 7% VS 2023
▲ 9% VS 2023
▲ 21% VS 2023
▲ 8% VS 2023
There were 1,852 townhome listings in the Vancouver Region in February, 17% above January and 21% higher than February 2023. February townhome sales increased by 30% month-over-month, to 591, and were 8% above February 2023. The sales-to-listing ratio for townhomes in the Vancouver Region, at 32%, re&ected a sellers' market. The townhome median price in February was $935,000, a 4% increase from January and 9% above February 2023. The average sold price was $1,017,860, 3% above last month; the average PSF sale price was $666, up 3% to last month.
THIS MONTH No. $666 $1,017,860 $935,000 32% 591 1,852
PREVIOUS MONTH
PREVIOUS YEAR
No.
% Change
No.
% Change
TOTAL LISTINGS TOTAL SALES SALES-LISTINGS RATIO MEDIAN SOLD PRICE AVERAGE SOLD PRICE AVERAGE PRICE PSF
$638 $950,531 $860,000 36% 548 1,528
4% 7% 9% -11% 8% 21%
$648 $986,571 $900,000 29% 453 1,587
12% 30% 17%
3% 3% 4%
▶ AVG PRICE PER SQUARE FOOT
▶ RECENT TRENDS
● FEB 2023 ● FEB 2024
● SALES ● TOTAL INVENTORY ● MEDIAN PRICE
2,150
1,999
1,883
2,086
1,788 1,838
1,852
1,881
1,570
1,528
1,588
1,587
1,545
944
947
757
784
767
481
591
548
669
580
518
453
365
$935K
$922K
$920K
$920K
$915K
$910K
$910K
$899K
$900K
$900K
$889K
$865K
$860K
Vancouver Region
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
600
137
500
4+ bdrms
410
400
322
3 bdrms
300
979
41%
33% 35%
200
31% 33%
125
2 bdrms
18%
426
12%
100
8%
0
7
<2 bdrms
<$400K $400-599K $600-799K $800-999K $1.0M-1.24M $1.25M-1.49M $1.5M-1.99M $2M+
37
S-L RATIO SALES INVENTORY
33 4 12%
51 17 33%
324 112 35%
558 230 41%
353 111 31%
219 72 33%
198 36 18%
116 9 8%
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. 6 ●
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