new westminster CONDO - DECEMBER 2 0 2 3
SALES TO LISTINGS RATIO 25% SELLERS' MARKET
▶ MARKET SUMMARY
AVERAGE PRICE
AVERAGE PSF PRICE ▲ 5% VS 2022
MEDIAN PRICE
TOTAL LISTINGS
SALES
▲ 0.1% VS 2022
▲ 1.4% VS 2022
▲ 9% VS 2022
▼ 8% VS 2022
There were 130 condo listings in New Westminster in December, 25% below November and 9% higher than December 2022. December condo sales decreased by 30% month-over-month, to 33, and were 8% below December 2022. The sales-to-listing ratio for condos in New Westminster, at 25%, reflected a sellers' market. The condo median price in December was $610,000, a 3% increase from November and 1.4% above December 2022. The average sold price was $627,915, 0.4% below last month; the average PSF sale price was $689, down 6% to last month.
THIS MONTH No.
PREVIOUS MONTH
PREVIOUS YEAR
No.
% Change
No.
% Change
TOTAL LISTINGS TOTAL SALES SALES-LISTINGS RATIO MEDIAN SOLD PRICE AVERAGE SOLD PRICE AVERAGE PRICE PSF
$689 $627,915 $610,000 25% 33 130
$655 $627,233 $601,550 30% 36 119
5% 0.1% 1.4% -16% -8% 9%
$734 $630,313 $592,500 27% 47 173
-6% -0.4% 3% -7% -30% -25%
▶ AVG PRICE PER SQUARE FOOT
▶ RECENT TRENDS
● DEC 2022 ● DEC 2023
● SALES ● TOTAL INVENTORY ● MEDIAN PRICE
173
181
178
172
164
130
128
127
148
119
130
122
121
96
78
76
82
59
72
47
62
55
52
36
33
26
$650K
$648K
$631K
$629K
$610K
$613K
$610K
$602K
$599K
$594K
$593K
$586K
$583K
NEW WESTMINSTER
REBGV
▶ NUMBER OF BEDROOMS
▶ TOTAL LISTINGS & SALES BY PRICE RANGE
SELLERS' MARKET 21% +
BALANCED 12 - 20%
BUYERS' MARKET <12%
● SALES ● TOTAL INVENTORY
● SALES ● TOTAL INVENTORY ● S-L RATIO
60
100%
4+ bdrms
3
50
40
1
3 bdrms
10
30
35%
20
22
25%
21%
2 bdrms
76
13%
10
0
10
<$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
1 1 100%
40 14 35%
62 13 21%
16 4 25%
8 1 13%
2 0 n/a
1 0 n/a
41
Copyright © 2024 rennie group of companies. All rights reserved. This material may not be reproduced or distributed, in whole or in part, without the prior written permission of the rennie group of companies. Current as of January 10, 2024. All data from Real Estate Board of Greater Vancouver and Fraser Valley & Rennie. While the information and data contained herein has been obtained from sources deemed reliable, accuracy cannot be guaranteed. rennie group of companies does not assume responsibility or liability for any inaccuracies. The recipient of the information should take steps as the recipient may deem necessary to verify the information prior to placing any reliance upon the information. The information contained within this report should not be used as an opinion of value, such opinions should and can be obtained from a rennie and associates advisor. All information is subject to change and any property may be withdrawn from the market at any time without notice or obligation to the recipient from rennie group of companies. E.&O.E. 31 ●
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