condo
R I C H M O N D - F E B R U A R Y 2 0 1 9
AVERAGE PRICE
AVERAGE PSF PRICE
BENCHMARK PRICE 2 % DOWN
TOTAL LISTINGS
SALES
SALES TO LISTING RATIO
MARKET SUMMARY ›
7 % DOWN
4 % DOWN
81 % UP
37 % DOWN
BALANCED 14 %
The number of condo listings in Richmond increased 5% between January and February (to 656), and increased by 81% from last February. The number of condo sales increased by 23 in January (to 89) but were 53 lower year-over-year. The sales-to-listings ratio increased to 14%, as Richmond’s condo market became favourable to buyer’s. The condo benchmark price was $660,100 in February, virtually unchanged from January and 2% lower than in February 2018. The average sold price was $575,126 (down 1.5% vs January) while the average PSF sales price was $658 (down 2% month-over-month).
VS 2018
VS 2018
VS 2018
VS 2018
VS 2018
PREVIOUS MONTH
PREVIOUS YEAR
THIS MONTH No.
No. 624
% Change
No. 363 142 39%
% Change
TOTAL LISTINGS
656
5%
81% -37% -65%
TOTAL SALES
89
66
35% 28%
SALES-LISTINGS RATIO BENCHMARK PRICE AVERAGE SOLD PRICE AVERAGE PRICE PSF
14%
11%
$660,100 $657,500 $575,126 $583,781
0.4% $673,300 -1.5% $620,877
-2% -7% -4%
$658
$673
-2%
$687
AVG PRICE PER SQUARE FOOT ›
HISTORICAL TREND
›
SALES TOTAL INVENTORY BENCHMARK PRICE
$673,300 $700,600 $699,700 $685,500 $681,900 $668,500 $660,100
672
656
597
594
542
467
363
167
162
154
142
124
89
66
RICHMOND
REBGV
TOTAL LISTINGS & SALES BY PRICE RANGE
NUMBER OF BEDROOMS
›
›
SALES TOTAL INVENTORY S-L RATIO
SALES TOTAL INVENTORY
SELLER'S MARKET
BALANCED
8
3+ bdrms
BUYER'S MARKET
96
56
2 bdrms
400
25
<2 bdrms
. . . . 0 0 0 0 QD QD QD
160
S-L RATIO SALES INVENTORY
CurrentasofMarch5,2019.Alldata from theRealEstateBoardofGreaterVancouverandFraserValley.The informationsetoutherein (the“Information”) is intended for informationalpurposesonly.RAR&RMShasnotverified the informationanddoesnot represent,warrantorguarantee theaccuracy,correctnessandcompletenessof the information.RAR&RMSdoesnotassumeany responsibilityor liabilityofanykind inconnectionwith the informationand the recipient’s relianceupon the information.The recipientof the information should take stepsas the recipient may deem necessary to verify the information prior to placing any reliance upon the information. The information may change and any property described in the information may be withdrawn from the market at any time without notice or obligation to the recipient from RAR & RMS.
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