the rennie review - February 2022

richmond DETACHED-JANUARY 202

SALESTO LISTINGSRATIO 39% SELLERS'MARKET

▶ MARKETSUMMARY Therewere269detachedlistingsinRichmondin January,10%belowDecemberand41%lowerthan January2021. Januarydetachedhomesalesincreasedby16% month-over-month,to106,andwere51%aboveJanuary 2021. Thesales-to-listingratiofordetachedinRichmond,at 39%,reflectedaselers'market. ThedetachedmedianpriceinJanuarywas$2,209,000,a 5%increasefromDecemberand39%aboveJanuary 2021. Theaveragesoldpricewas$2,288,745,1.5%abovelast monthandup31%toJanuary2021.

AVERAGEPRICE

MEDIANPRICE

TOTALLISTINGS

SALES

▲ 31% VS2021

▲ 39% VS2021

▼ 41% VS2021

▲ 51% VS2021

THISMONTH No.

PREVIOUSYEAR

PREVIOUSMONTH

No.

%Change

No.

%Change

TOTALLISTINGS TOTALSALES

39% 106 269

$1,752,060 $1,591,900 15% 70 455

31% 39% 156% 51% -41%

$2,255,100 $2,100,000 31% 91 298

1.5% 5% 29% 16% -10%

SALES-LISTINGSRATIO MEDIANSOLDPRICE AVERAGESOLDPRICE

$2,288,745 $2,209,000

▶ RATIOOFMEDIANPRICES

▶ RECENTTRENDS

● DETACHED-TO-TOWNHOME ● TOWNHOME-TO-CONDO

● SALES ● TOTALINVENTORY ● MEDIANPRICE

605

588

643

534

61

1.97

551

1.95

515

1.86

455

390

458

435

1.71

1.67

1.53

229

269

298

152

131

14

172

106

136

130

16

70

106

94

91

$2.21M

$2.10M

$2.09M

$1.99M

$1.85M $1.75M

$1.81M

$1.76M

$1.76M

$1.74M

$1.74M

$1.68M

$1.59M

Jan-21

Dec-21

Jan-22

▶ TOTALLISTINGS&SALESBYPRICERANGE

SELERS'MARKET 21%+

BALANCED 12-20%

BUYERS'MARKET <12%

● SALES ● TOTALINVENTORY ● S-LRATIO

100

80

78%

75%

60

53%

40

37%

20

13%

0

<$600K

$600-799K

$800-999K

$1.0M-1.24M $1.25M-1.49M $1.5M-1.99M

$2.0M-2.49M

$2.5M-2.99M

$3M+

S-LRATIO SALES INVENTORY

4 3 75%

46 36 78%

60 32 53%

59 22 37%

100 13 13%

Copyright©February8,202renniegroupofcompanies.Alrightsreserved.Thismaterialmaynotbereproducedordistributed,inwholeorinpart,withoutthepriorwritenpermisionoftherenniegroupofcompanies.CurentasofFebruary8,202.AldatafromRealEstate BoardofGreaterVancouverandFraserValey&Rennie.Whiletheinformationanddatacontainedhereinhasbenobtainedfromsourcesdemedreliable,acuracycanotbeguaranted.renniegroupofcompaniesdoesnotasumeresponsibilityorliabilityforanyinacuracies.The recipientoftheinformationshouldtakestepsastherecipientmaydemnecesarytoverifytheinformationpriortoplacinganyrelianceupontheinformation.Theinformationcontainedwithinthisreportshouldnotbeusedasanopinionofvalue,suchopinionsshouldandcanbe obtainedfromarennieandasociatesadvisor.Alinformationissubjecttochangeandanypropertymaybewithdrawnfromthemarketatanytimewithoutnoticeorobligationtotherecipientfromrenniegroupofcompanies.E.&O.E.

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