new westminster CONDO - NOVEMBER 2 0 2 4
SALES TO LISTINGS RATIO 23% SELLERS' MARKET
▶ MARKET SUMMARY
AVERAGE PRICE
AVERAGE PSF PRICE ▼ 5% VS 2023
MEDIAN PRICE
TOTAL INVENTORY
SALES
▲ 3% VS 2023
▲ 73% VS 2023
▲ 45% VS 2023
▼ 1.7% VS 2023
There were 299 condo listings in New Westminster in November, 3% above October and 73% higher than November 2023. November condo sales decreased by 24% month-over-month, to 68, and were 45% above November 2023. The sales-to-listing ratio for condos in New Westminster, at 23%, reflected a sellers' market. The condo median price in November was $612,500, a 2% increase from October and 3% above November 2023. The average sold price was $619,374, 2% below last month; the average PSF sale price was $697, down 5% 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
$697 $619,374 $612,500 23% 68 299
$734 $630,313 $592,500 27% 47 173
45% 73%
$731 $632,581 $598,000 31% 89 291
-26% -24% 3%
-5% -1.7% 3% -16%
-5% -2% 2%
▶ AVG PRICE PER SQUARE FOOT
▶ RECENT TRENDS
● NOV 2023 ● NOV 2024
● SALES ● TOTAL INVENTORY ● MEDIAN PRICE
299
278
291
252
250
232
248
241
173
172
189
138
130
89
87
82
73
69
63
68
77
47
61
53
41
33
$645K
$645K
$645K
$640K
$626K
$632K
$618K
$610K
$610K
$613K
$595K
$598K
$593K
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
60
4+ bdrms
1
80%
50
40
4
53%
3 bdrms
25
30
32% 31%
20
23%
40
2 bdrms
191
9%
8%
10
2%
0
24
<$400K $400K-499K $500K-599K $600K-699K $700K-799K $800K-899K $900K-999K $1.0M+
<2 bdrms
S-L RATIO SALES INVENTORY
5 4 80%
19 10 53%
56 18 32%
52 16 31%
61 14 23%
33 3 9%
24 2 8%
49 1 2%
82
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 December 9, 2024. 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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