CONDO - MAY 2019 richmond
AVERAGE PRICE
AVERAGE PSF PRICE
BENCHMARK PRICE 7 % DOWN
TOTAL LISTINGS
SALES
SALES TO LISTING RATIO
MARKET SUMMARY ›
65 % UP
10 % DOWN
7 % DOWN
29 % DOWN
BALANCED 15 %
The number of condo listings in Richmond increased 7% between April and May (to 886), and rose by 65% from last May. The number of condo sales jumped by 48% vs April 2019 (to 133) but were 29% lower vs May 2018. The sales-to-listings ratio increased to 15%, as Richmond’s condo market transitioned to balanced market territory. The condo benchmark price was $637,900 in May, virtually unchanged from April and 7% lower than in May 2018. The average sold price was $551,392 (down 5% vs April) while the average PSF sales price was $649 (unchanged month-over-month).
VS 2018
VS 2018
VS 2018
VS 2018
VS 2018
PREVIOUS MONTH
PREVIOUS YEAR
THIS MONTH No.
No. 830
% Change
No. 538 188 35%
% Change
TOTAL LISTINGS
886 133 15%
7%
65% -29% -57%
TOTAL SALES
90
48% 38%
SALES-LISTINGS RATIO BENCHMARK PRICE AVERAGE SOLD PRICE AVERAGE PRICE PSF
11%
$637,900 $639,300 $551,392 $578,119
-0.2% $686,500 -5% $616,068
-7%
-10%
$649
$649
0.0%
$701
-7%
AVG PRICE PER SQUARE FOOT ›
HISTORICAL TREND
›
SALES TOTAL INVENTORY BENCHMARK PRICE
$686,500 $700,100 $690,600 $658,500 $657,500 $637,700 $637,900
886
783
683
661
635
629
538
188
150
133
96
93
83
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
11
3+ bdrms
BUYER'S MARKET
126
81
2 bdrms
550
41
<2 bdrms
. . . . 0 0 0 0 QD QD
210
S-L RATIO SALES INVENTORY
CurrentasofJune4,2019.Alldata from theRealEstateBoardofGreaterVancouverandFraserValley.The informationsetoutherein (the“Information”) is intended for informationalpurposesonly.RAR&RMShasnotverifiedthe 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 The information may change and any property described in the information may be withdrawn from the market at any time without notice or obligation to the recipient from RAR & RMS.
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