the rennie review - January 2023

new w estm inster CONDO -DECEMBER 202

SALESTO LISTINGSRATIO 30% SELLERS'M ARKET

▶ MARKETSUMMARY Therewere119 condolistingsin N ew W estm insterin D ecem ber,30% below N ovem berand 8% higherthan D ecem ber2021. D ecem bercondo salesdecreased by 18% m onth-over-m onth,to36,and were63% below D ecem ber2021. Thesales-to-listing ratio forcondosin N ew W estm inster, at30% ,reflected aselers'm arket. Thecondom edian pricein D ecem berwas$601,550,a 0.7% increasefrom N ovem berand 6% aboveD ecem ber 2021. Theaveragesold pricewas$627,233,5% abovelast m onth;theaveragePSF salepricewas$655,up 0.4% to lastm onth.

AVERAGEPRICE

AVERAGE PSFPRICE ▼ 3% VS2021

MEDIAN PRICE

TOTALLISTINGS

SALES

▲ 9% VS2021

▲ 6% VS2021

▲ 8% VS2021

▼ 63% VS2021

THISMONTH No.

PREVIOUSYEAR

PREVIOUSMONTH

No.

%Change

No.

%Change

TOTALLISTINGS TOTALSALES

$655 $627,233 $601,550 30% 36 119

$675 $577,847 $570,000 87% 96 110

-65% -63% 8%

$652 $597,394 $597,500 26% 44 171

0.4% 5% 0.7% 18% -18% -30%

SALES-LISTINGSRATIO MEDIAN SOLD PRICE AVERAGESOLD PRICE AVERAGEPRICEPSF

-3% 9% 6%

▶ AVG PRICEPERSQUAREFOOT

▶ RECENTTRENDS

● DEC 2021 ● DEC 202

● SALES ● TOTALINVENTORY ● MEDIAN PRICE

175

171

171

149

168

165

161 161

19

133

10

104

19

96

81

80

102

95

82

59

72

62

51

48

36

44

$641K $675K

$630K

$630K $590K

$598K $602K

$575K $555K

$570K $614K

$562K $602K

NEW W ESTMINSTER REBGV

▶ NUMBEROFBEDROOMS

▶ TOTALLISTINGS&SALESBYPRICERANGE

SEL ERS'MARKET 21%+

BALANCED 12-20%

BUYERS'MARKET <12%

● SALES ● TOTALINVENTORY

● SALES ● TOTALINVENTORY ● S-LRATIO

50

1

4+bdrms

40

30

1

3bdrms

18

50%

50%

44%

20

31%

24

2bdrms

10

66

9%

0

10

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

<2bdrms

S-LRATIO SALES INVENTORY

4 2 50%

34 15 44%

48 15 31%

9%

2 1 50%

6 0 n/a

0 1 n/a

3 0 n/a

35

22 2

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