richmond CONDO - DECEMBER 2 0 2 3
SALES TO LISTINGS RATIO 22% SELLERS' MARKET
▶ MARKET SUMMARY
AVERAGE PRICE
AVERAGE PSF PRICE ▲ 13% VS 2022
MEDIAN PRICE
TOTAL LISTINGS
SALES
▲ 10% VS 2022
▲ 6% VS 2022
▲ 21% VS 2022
▲ 1.0% VS 2022
There were 446 condo listings in Richmond in December, 21% below November and 21% higher than December 2022. December condo sales increased by 1.0% month-over-month, to 97, and were 1.0% above December 2022. The sales-to-listing ratio for condos in Richmond, at 22%, reflected a sellers' market. The condo median price in December was $698,000, a 3% increase from November and 6% above December 2022. The average sold price was $728,372, 1.7% above last month; the average PSF sale price was $853, down 1.1% 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
$853 $728,372 $698,000 22% 97 446
$755 $660,266 $657,950 26% 96 369
13% 10% 6% -16% 1% 21%
$862 $716,151 $679,450 17% 96 563
-1.1% 1.7% 3% 28% 1% -21%
▶ AVG PRICE PER SQUARE FOOT
▶ RECENT TRENDS
● DEC 2022 ● DEC 2023
● SALES ● TOTAL INVENTORY ● MEDIAN PRICE
563
527
482
478
474
541
451
454
452
446
427
369
380
193
193
194
181
126
172
163
96
130
97
118
96
81
$700K
$700K
$698K
$700K
$698K
$683K
$680K
$679K
$675K
$658K
$645K
$652K
$644K
RICHMOND
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
120
4+ bdrms
10
100
80
65%
7
3 bdrms
93
60
40
59
26%
20%
2 bdrms
15%
14%
234
20
10%
3%
0
31
<$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
21 3 14%
43 28 65%
125 32 26%
119 24 20%
73 7 10%
33 1 3%
13 2 15%
19 0 n/a
109
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. 40 ●
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