new westminster CONDO - DECEMBER 2 0 2 4
SALES TO LISTINGS RATIO 32% SELLERS' MARKET
▶ MARKET SUMMARY
AVERAGE PRICE
AVERAGE PSF PRICE ▲ 8% VS 2023
MEDIAN PRICE
TOTAL INVENTORY
SALES
▲ 15% VS 2023
▲ 8% VS 2023
▲ 75% VS 2023
▲ 121% VS 2023
There were 227 condo listings in New Westminster in December, 24% below November and 75% higher than December 2023. December condo sales increased by 7% month-over-month, to 73, and were 121% above December 2023. The sales-to-listing ratio for condos in New Westminster, at 32%, reflected a sellers' market. The condo median price in December was $660,000, a 8% increase from November and 8% above December 2023. The average sold price was $724,989, 17% above last month; the average PSF sale price was $745, up 7% to last month.
THIS MONTH No.
PREVIOUS MONTH
PREVIOUS YEAR
No.
% Change
No.
% Change
TOTAL INVENTORY TOTAL SALES SALES-LISTINGS RATIO MEDIAN SOLD PRICE AVERAGE SOLD PRICE AVERAGE PRICE PSF
$745 $724,989 $660,000 32% 73 227
$689 $627,915 $610,000 25% 33 130
8% 15% 8% 27% 121% 75%
$697 $619,374 $612,500 23% 68 299
7% 17% 8% 41% 7% -24%
▶ AVG PRICE PER SQUARE FOOT
▶ RECENT TRENDS
● DEC 2023 ● DEC 2024
● SALES ● TOTAL INVENTORY ● MEDIAN PRICE
278
299
291
252
250
232
248
241
227
172
189
130
138
89
87
82
73
69
63
73
77
68
61
53
33
41
$660K
$645K
$645K
$645K
$640K
$632K
$626K
$618K
$610K
$610K
$613K
$595K
$598K
NEW WESTMINSTER
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
50
100%
4+ bdrms
40
1
63%
30
6
3 bdrms
50%
19
20
28% 26%
28%
23%
44
2 bdrms
10
10%
152
0
23
<$400K $400K-499K $500K-599K $600K-699K $700K-799K $800K-899K $900K-999K $1.0M+
<2 bdrms
S-L RATIO SALES INVENTORY
2 2 100%
16 8 50%
30 19 63%
46 13 28%
46 12 26%
26 6 23%
21 2 10%
40 11 28%
55
Copyright © 2025 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 January 13, 2025. All data from Greater Vancouver REALTORS®, Fraser Valley Real Estate Board, Whistler Listing System, and 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. 31 ●
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