richmond CONDO - APRIL 2 0 2 4
SALES TO LISTINGS RATIO 30% SELLERS' MARKET
▶ MARKET SUMMARY
AVERAGE PRICE
AVERAGE PSF PRICE ▲ 7% VS 2023
MEDIAN PRICE
TOTAL INVENTORY
SALES
▲ 2% VS 2023
▲ 1.1% VS 2023
▲ 25% VS 2023
▲ 6% VS 2023
There were 599 condo listings in Richmond in April, 10% above March and 25% higher than April 2023.
April condo sales increased by 28% month-over-month, to 182, and were 6% above April 2023.
THIS MONTH No.
PREVIOUS MONTH
PREVIOUS YEAR
No. 172 478
% Change
No. 142 543
% Change
The sales-to-listing ratio for condos in Richmond, at 30%, reflected a sellers' market.
TOTAL INVENTORY TOTAL SALES SALES-LISTINGS RATIO MEDIAN SOLD PRICE AVERAGE SOLD PRICE AVERAGE PRICE PSF
182 599
1.1% -16% 6% 25%
16% 28% 10%
The condo median price in April was $690,000, a 6% decrease from March and 1.1% above April 2023. The average sold price was $726,784, 0.9% below last month; the average PSF sale price was $852, up 0.9% to last month.
$852 $726,784 $690,000 30%
$799 $711,715 $682,500 36%
$845 $733,075 $734,000 26%
0.9% -0.9% -6%
7% 2%
▶ AVG PRICE PER SQUARE FOOT
▶ RECENT TRENDS
● APR 2023 ● APR 2024
● SALES ● TOTAL INVENTORY ● MEDIAN PRICE
563
599
527
504
482
474
541
543
478
452
446
444
427
193
193
194
182
172
126
97
163
142
130
104
96
92
$733K
$734K
$700K
$700K
$698K
$700K
$698K
$688K
$690K
$683K
$680K
$679K
$644K
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
200
4+ bdrms
15
150
14
3 bdrms
47%
100
91
39%
28%
107
50
16%
2 bdrms
346
8%
4%
0
61
<$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
102 48 47%
195 76 39%
153 43 28%
67 11 16%
38 3 8%
23 1 4%
10 0 n/a
11 0 n/a
147
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 May 8, 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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