richmond CONDO - NOVEMBER 2 0 2 4
SALES TO LISTINGS RATIO 16% BALANCED MARKET
▶ MARKET SUMMARY
AVERAGE PRICE
AVERAGE PSF PRICE ▼ 8% VS 2023
MEDIAN PRICE
TOTAL INVENTORY
SALES
▲ 34% VS 2023
▲ 25% VS 2023
▼ 5% VS 2023
▼ 3% VS 2023
There were 757 condo listings in Richmond in November, 0.3% above October and 34% higher than November 2023. November condo sales decreased by 14% month-over-month, to 120, and were 25% above November 2023. The sales-to-listing ratio for condos in Richmond, at 16%, reflected a balanced market. The condo median price in November was $660,000, a 5% decrease from October and 3% below November 2023. The average sold price was $681,051, 11% below last month; the average PSF sale price was $795, down 7% to last month.
THIS MONTH No.
PREVIOUS MONTH
PREVIOUS YEAR
No.
% Change
No. 139 755
% Change
TOTAL INVENTORY TOTAL SALES SALES-LISTINGS RATIO MEDIAN SOLD PRICE AVERAGE SOLD PRICE AVERAGE PRICE PSF
120 757
$862 $716,151 $679,450 17% 96 563
-8% -5% -3% -7% 25% 34%
-7% -11% -5% -14% -14% 0.3%
$795 $681,051 $660,000 16%
$852 $763,498 $693,800 18%
▶ AVG PRICE PER SQUARE FOOT
▶ RECENT TRENDS
● NOV 2023 ● NOV 2024
● SALES ● TOTAL INVENTORY ● MEDIAN PRICE
805
718
757
662
755
740
680
563
504
599
543
446
444
182
139
139
97
120
151
96
142
131
107
105
101
92
$730K
$734K
$726K
$703K
$698K
$700K
$694K
$688K
$690K
$679K
$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
250
4+ bdrms
16
200
14
150
3 bdrms
117
100
27%
22%
67
2 bdrms
50
9%
431
8%
2%
0
39
<$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
143 38 27%
250 56 22%
201 19 9%
78 6 8%
42 1 2%
19 0 n/a
8 0 n/a
16 0 n/a
193
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. 40 ●
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