richmond DETACHED - NOVEMBER 2 0 2 4
SALES TO LISTINGS RATIO 13% BALANCED MARKET
▶ MARKET SUMMARY
AVERAGE PRICE
MEDIAN PRICE
TOTAL INVENTORY
SALES
▲ 0.4% VS 2023
▲ 2% VS 2023
▲ 16% VS 2023
▲ 18% VS 2023
There were 510 detached listings in Richmond in November, 9% below October and 16% higher than November 2023. November detached home sales decreased by 32% month-over-month, to 65, and were 18% above November 2023. The sales-to-listing ratio for detached in Richmond, at 13%, reflected a balanced market. The detached median price in November was $2,020,000, a 8% increase from October and 2% above November 2023. The average sold price was $2,149,182, 3% above last month and up 0.4% to November 2023.
THIS MONTH No. $2,149,182 $2,020,000 13% 65 510
PREVIOUS MONTH
PREVIOUS YEAR
No.
% Change
No.
% Change
TOTAL INVENTORY TOTAL SALES SALES-LISTINGS RATIO MEDIAN SOLD PRICE AVERAGE SOLD PRICE
$2,140,359 $1,980,000 12% 55 441
0.4% 2% 2% 18% 16%
$2,084,906 $1,865,000 17% 95 560
-25% -32% -9%
3% 8%
▶ RATIO OF MEDIAN PRICES
▶ RECENT TRENDS
● DETACHED-TO-TOWNHOME ● TOWNHOME-TO-CONDO
● SALES ● TOTAL INVENTORY ● MEDIAN PRICE
537
512
584
561
560
480
510
508
1.83
1.82
441
1.67
424
1.67 1.61
1.60
390
376
368
95
86
68
71
59
49
44
40
36
65
55
77
72
$2.32M $2.19M
$2.19M $2.18M
$2.09M $2.06M $2.20M
$1.98M $1.91M
$1.96M
$1.88M $1.87M $2.02M
23-Nov
24-Oct
24-Nov
▶ TOTAL LISTINGS & SALES BY PRICE RANGE
SELLERS' MARKET 21% +
BALANCED 12 - 20%
BUYERS' MARKET <12%
● SALES ● TOTAL INVENTORY ● S-L RATIO
140
120
100
80
50%
60
40
20%
19%
16%
14%
20
6%
0
<$1M
$1.0M-1.24M $1.25M-1.49M $1.5M-1.99M $2.0M-2.49M $2.5M-2.99M $3.0M-3.99M $4.0M-4.99M $5.0M-5.99M
$6.0M+
S-L RATIO SALES INVENTORY
5 1 20%
14 7 50%
130 21 16%
80 15 19%
110 15 14%
105 6 6%
37 0 n/a
10 0 n/a
19 0 n/a
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. 38 ●
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