greater vancouver board area TOWNHOME - FEBRUARY 2 0 2 4
SALES TO LISTINGS RATIO 30% SELLERS' MARKET
▶ MARKET SUMMARY
AVERAGE PRICE
AVERAGE PSF PRICE ▲ 4% VS 2023
MEDIAN PRICE
TOTAL LISTINGS
SALES
▲ 4% VS 2023
▲ 3% VS 2023
▲ 22% VS 2023
▲ 3% VS 2023
There were 1,032 townhome listings in the Greater Vancouver board area in February, 18% above January and 22% higher than February 2023. February townhome sales increased by 42% month-over-month, to 314, and were 3% above February 2023. The sales-to-listing ratio for townhomes in the Greater Vancouver board area, at 30%, re(ected a sellers' market. The townhome median price in February was $1,075,000, a 0.5% increase from January and 3% above February 2023. The average sold price was $1,137,601, 0.4% below last month; the average PSF sale price was $773, up 0.2% to last month.
THIS MONTH No. $773 $1,137,601 $1,075,000 30% 314 1,032
PREVIOUS MONTH
PREVIOUS YEAR
No. 306 844
% Change
No. 221 876
% Change
TOTAL LISTINGS TOTAL SALES SALES-LISTINGS RATIO MEDIAN SOLD PRICE AVERAGE SOLD PRICE AVERAGE PRICE PSF
4% 4% 3% -16% 3% 22%
21% 42% 18%
$744 $1,088,632 $1,039,500 36%
$772 $1,142,386 $1,070,000 25%
0.2% -0.4% 0.5%
▶ AVG PRICE PER SQUARE FOOT
▶ RECENT TRENDS
● FEB 2023 ● FEB 2024
● SALES ● TOTAL INVENTORY ● MEDIAN PRICE
1,220
1,118
1,028 1,031
1,175
991
1,032
909
1,022
844
909
876
865
499
470
368
351
298
267
396
391
314
306
302
221
180
$1.09M $1.09M $1.07M $1.10M $1.05M $1.05M $1.06M $1.07M $1.08M
$1.04M
$1000K $1.05M $1.05M
REBGV
FVREB
▶ 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
200
61
4+ bdrms
155
150
176
3 bdrms
590
100
43%
38% 40%
36% 33%
71
2 bdrms
18%
50
257
12%
8%
0
6
<2 bdrms
<$400K $400-599K $600-799K $800-999K $1.0M-1.24M $1.25M-1.49M $1.5M-1.99M $2M+
30
S-L RATIO SALES INVENTORY
17 2 12%
16 6 38%
100 40 40%
211 90 43%
206 74 36%
177 59 33%
190 34 18%
115 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. 9 ●
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