richmond CONDO - DECEMBER 2 0 2 4
SALES TO LISTINGS RATIO 19% BALANCED MARKET
▶ MARKET SUMMARY
AVERAGE PRICE
AVERAGE PSF PRICE ▼ 2% VS 2023
MEDIAN PRICE
TOTAL INVENTORY
SALES
▲ 41% VS 2023
▲ 25% VS 2023
▼ 5% VS 2023
▼ 4% VS 2023
There were 628 condo listings in Richmond in December, 17% below November and 41% higher than December 2023. December condo sales increased by 0.8% month-over-month, to 121, and were 25% above December 2023. The sales-to-listing ratio for condos in Richmond, at 19%, reflected a balanced market. The condo median price in December was $670,000, a 1.5% increase from November and 4% below December 2023. The average sold price was $688,719, 1.1% above last month; the average PSF sale price was $832, up 5% to last month.
THIS MONTH No.
PREVIOUS MONTH
PREVIOUS YEAR
No.
% Change
No. 120 757
% Change
TOTAL INVENTORY TOTAL SALES SALES-LISTINGS RATIO MEDIAN SOLD PRICE AVERAGE SOLD PRICE AVERAGE PRICE PSF
121 628
$853 $728,372 $698,000 22% 97 446
-2% -5% -4% -11% 25% 41%
5% 1.1% 1.5% 22% 0.8% -17%
$832 $688,719 $670,000 19%
$795 $681,051 $660,000 16%
▶ AVG PRICE PER SQUARE FOOT
▶ RECENT TRENDS
● DEC 2023 ● DEC 2024
● SALES ● TOTAL INVENTORY ● MEDIAN PRICE
805
757
718
662
755
740
680
628
504
599
543
446
444
182
139
139
121
151
97
142
131
120
107
105
101
92
$730K
$734K
$726K
$703K
$698K
$700K
$694K
$688K
$690K
$670K
$660K
$660K
$645K
RICHMOND
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
200
4+ bdrms
15
150
17
3 bdrms
98
100
37%
27%
62
50
2 bdrms
11% 10%
364
6%
0
42
<$600K $600K-799K $800K-999K $1.0M-1.24M $1.25M-1.49M $1.5M-1.99M $2.0M-2.49M $2.5M+
<2 bdrms
S-L RATIO SALES INVENTORY
103 38 37%
203 54 27%
176 20 11%
71 7 10%
36 2 6%
17 0 n/a
8 0 n/a
14 0 n/a
151
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. 40 ●
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