the rennie review - June 2023

new w estm inster CONDO -MAY 2023

SALES TO LISTINGSRATIO 75% SELLERS'M ARKET

▶ MARKETSUMMARY

AVERAGEPRICE

AVERAGE PSF PRICE ▲ 0.1% VS 2022

MEDIAN PRICE

TOTALLISTINGS

SALES

▲ 4% VS 2022

▲ 3% VS 2022

▼ 26% VS 2022

▲ 18% VS 2022

Therewere130 condolistingsin N ew W estm insterin M ay,2% aboveApriland 26% lowerthan M ay2022.

M aycondosalesincreased by35% m onth-over-m onth,to 97,and were18% aboveM ay2022.

THISMONTH No.

PREVIOUSMONTH

PREVIOUSYEAR

No.

% Change

No.

% Change

Thesales-to-listing ratio forcondosin N ew W estm inster, at75% ,reflected aselers'm arket.

TOTALLISTINGS TOTALSALES

$722 $667,771 $649,000 75% 97 130

$721 $640,984 $630,000 47% 82 175

0.1% 4% 3% 59% 18% -26%

$709 $632,476 $610,250 57% 72 127

1.9% 6% 6% 32% 35% 2%

Thecondom edian pricein M aywas$649,000,a6% increasefrom Apriland 3% aboveM ay2022. Theaveragesold pricewas$667,771,6% abovelast m onth;theaveragePSF salepricewas$722,up 1.9% to lastm onth.

SALES-LISTINGSRATIO MEDIAN SOLD PRICE AVERAGESOLD PRICE AVERAGEPRICEPSF

▶ AVG PRICEPERSQUAREFOOT

▶ RECENTTRENDS

● MAY 202 ● MAY 2023

● SALES ● TOTALINVENTORY ● MEDIAN PRICE

175

171

171

168

165

161 161

128

127

130

122

121

19

97

81

76

82

59

72

62

36

52

51

48

44

26

$630K $590K

$631K

$610K $649K

$598K $602K $586K

$583K

$575K $555K

$562K $602K

NEW W ESTMINSTER REBGV

▶ NUMBEROFBEDROOMS

▶ TOTALLISTINGS&SALESBYPRICERANGE

SEL ERS'MARKET 21% +

BALANCED 12 - 20%

BUYERS'MARKET <12%

● SALES ● TOTALINVENTORY

● SALES ● TOTALINVENTORY ● S-L RATIO

60

100%

97%

4+ bdrms

50

77%

40

8

59%

3 bdrms

11

30

20

61

25%

2 bdrms

17%

83

10

0

28

<$400K $400-599K $600-799K $800-999K $1.0M -1.24M $1.25M -1.49M $1.5M -1.99M $2M +

<2 bdrms

S-L RATIO SALES INVENTORY

6 1 17%

37 36 97%

62 48 77%

17 10 59%

3 0 n/a

4 1 25%

1 1 100%

36

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