richmond TOWNHOME - NOVEMBER 2 0 2 4
SALES TO LISTINGS RATIO 16% BALANCED MARKET
▶ MARKET SUMMARY
AVERAGE PRICE
AVERAGE PSF PRICE ▼ 1.4% VS 2023
MEDIAN PRICE
TOTAL INVENTORY
SALES
▲ 1.9% VS 2023
▲ 11% VS 2023
▲ 55% VS 2023
▲ 84% VS 2023
There were 285 townhome listings in Richmond in November, 7% below October and 55% higher than November 2023. November townhome sales decreased by 13% month-over-month, to 46, and were 84% above November 2023. The sales-to-listing ratio for townhomes in Richmond, at 16%, reflected a balanced market. The townhome median price in November was $1,206,250, a 8% increase from October and 11% above November 2023. The average sold price was $1,178,596, 6% above last month; the average PSF sale price was $770, up 5% to last month.
THIS MONTH No. $770 $1,178,596 $1,206,250 16% 46 285
PREVIOUS MONTH
PREVIOUS YEAR
No.
% Change
No.
% Change
TOTAL INVENTORY TOTAL SALES SALES-LISTINGS RATIO MEDIAN SOLD PRICE AVERAGE SOLD PRICE AVERAGE PRICE PSF
$781 $1,156,584 $1,090,000 14% 25 184
11% 19% 84% 55%
$735 $1,108,935 $1,120,000 17% 53 308
5% 6% 8% -6% -13% -7%
-1.4% 1.9%
▶ AVG PRICE PER SQUARE FOOT
▶ RECENT TRENDS
● NOV 2023 ● NOV 2024
● SALES ● TOTAL INVENTORY ● MEDIAN PRICE
277
309
308
285
298
218
238
192
184
156
146
145
140
68
56
54
53
46
25
60
57
55
46
25
39
35
$1.21M
$1.19M $1.22M $1.20M $1.15M $1.16M $1.20M $1.20M
$1.09M $1.10M
$1.08M $1.14M $1.12M
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
15
80
4+ bdrms
65
60
27
3 bdrms
172
40
4
23% 21%
2 bdrms
20
47
11% 12%
2%
0
<2 bdrms
<$600K $600K-799K $800K-999K $1.0M-1.24M $1.25M-1.49M $1.5M-1.99M $2.0M-2.49M $2.5M+
1
S-L RATIO SALES INVENTORY
2 0 n/a
18 2 11%
52 6 12%
86 20 23%
81 17 21%
44 1 2%
2 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. 39 ●
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