CONDO - JULY 2019 richmond
AVERAGE PRICE
AVERAGE PSF PRICE
BENCHMARK PRICE 9 % DOWN
TOTAL LISTINGS
SALES
SALES TO LISTING RATIO
MARKET SUMMARY ›
41 % UP
BALANCED 17 %
8 % DOWN
9 % DOWN
1.3 % DOWN
The number of condo listings in Richmond decreased 4% between June and July (to 877), but rose by 41% from last July. The number of condo sales jumped by 24% vs June 2019 (to 148) but were 1.3% lower vs July 2018. The sales-to-listings ratio increased to 17%, as Richmond’s condo market remained in balanced market territory. The condo benchmark price was $622,500 in July, 1.0% below June and 9% lower than in July 2018. The average sold price was $555,857 (up 6% vs June) while the average PSF sales price was $652 (6% higher month-over-month).
VS 2018
VS 2018
VS 2018
VS 2018
VS 2018
PREVIOUS MONTH
PREVIOUS YEAR
THIS MONTH No.
No. 911 119 13%
% Change
No. 621 150 24%
% Change
TOTAL LISTINGS
877 148 17%
-4% 24% 29%
41%
TOTAL SALES
-1.3% -30%
SALES-LISTINGS RATIO BENCHMARK PRICE AVERAGE SOLD PRICE AVERAGE PRICE PSF
$622,500 $628,500 $555,857 $522,394
-1.0% $684,400 6% $601,359
-9% -8% -9%
$652
$613
6%
$716
AVG PRICE PER SQUARE FOOT ›
HISTORICAL TREND
›
SALES TOTAL INVENTORY BENCHMARK PRICE
$684,400 $676,900 $642,600 $640,000 $637,700 $637,900 $622,500
915
877
773
674
653
626
621
150
148
132
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
7
3+ bdrms
BUYER'S MARKET
114
86
2 bdrms
562
55
<2 bdrms
. . . . 0 0 0 0 QD QD
201
S-L RATIO SALES INVENTORY
CurrentasofAugust7,2019.Alldata from theRealEstateBoardofGreaterVancouverandFraserValley.The informationsetoutherein (the“Information”) is intended for informationalpurposesonly.RAR&RMShasnotverified the 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 The information may change and any property described in the information may be withdrawn from the market at any time without notice or obligation to the recipient from RAR & RMS.
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