greater vancouver board area DETACHED - FEBRUARY 2 0 2 4
SALES TO LISTINGS RATIO 16% BALANCED MARKET
▶ MARKET SUMMARY
AVERAGE PRICE
MEDIAN PRICE
TOTAL LISTINGS
SALES
▲ 5% VS 2023
▲ 11% VS 2023
▲ 19% VS 2023
▲ 8% VS 2023
There were 3,503 detached listings in the Greater Vancouver board area in February, 9% above January and 19% higher than February 2023. February detached home sales increased by 43% month-over-month, to 555, and were 8% above February 2023. The sales-to-listing ratio for detached in the Greater Vancouver board area, at 16%, re(ected a balanced market. The detached median price in February was $1,900,000, a 5% increase from January and 11% above February 2023.
THIS MONTH No. $2,165,727 $1,900,000 16% 555 3,503
PREVIOUS MONTH
PREVIOUS YEAR
No.
% Change
No.
% Change
TOTAL LISTINGS TOTAL SALES SALES-LISTINGS RATIO MEDIAN SOLD PRICE AVERAGE SOLD PRICE
$2,053,766 $1,710,000 17% 512 2,934
5% 11% -9% 8% 19%
$2,106,602 $1,805,000 12% 387 3,211
31% 43% 9%
The average sold price was $2,165,727, 3% above last month and up 5% to February 2023.
3% 5%
▶ RATIO OF MEDIAN PRICES
▶ RECENT TRENDS
● DETACHED-TO-TOWNHOME ● TOWNHOME-TO-CONDO
● SALES ● TOTAL INVENTORY ● MEDIAN PRICE
4,393
4,065
3,921
4,472
4,044
3,982
1.77
3,503
3,535
1.69
1.65
3,338
2,934
3,211
3,180
1.56
3,034
1.52
1.51
1,026
730
741
572
512
372
387
833
555
512
797
588
552
$1.90M $1.85M $1.91M $1.85M $1.80M $1.81M $1.90M
$1.87M $1.75M
$1.82M $1.88M $1.90M
$1.71M
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
1400
1200
1000
800
600
31%
400
26%
26%
22%
21%
18%
200
11%
10%
7%
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+ 1,293 94 7%
S-L RATIO SALES INVENTORY
61 6 10%
51 11 22%
94 17 18%
143 44 31%
245 64 26%
629 162 26%
504 104 21%
483 53 11%
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. 8 ●
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