the vancouver rennie review | January 2024

vancouver east DETACHED - DECEMBER 2 0 2 3

SALES TO LISTINGS RATIO 13% BALANCED MARKET

▶ MARKET SUMMARY

AVERAGE PRICE

MEDIAN PRICE

TOTAL LISTINGS

SALES

▲ 10% VS 2022

▲ 5% VS 2022

▲ 8% VS 2022

▲ 23% VS 2022

There were 382 detached listings in Vancouver East in December, 21% below November and 8% higher than December 2022. December detached home sales decreased by 19% month-over-month, to 48, and were 23% above December 2022. The sales-to-listing ratio for detached in Vancouver East, at 13%, reflected a balanced market. The detached median price in December was $1,809,000, a 6% decrease from November and 5% above December 2022. The average sold price was $1,940,768, 1.1% above last month and up 10% to December 2022.

THIS MONTH No. $1,940,768 $1,809,000 13% 48 382

PREVIOUS MONTH

PREVIOUS YEAR

No.

% Change

No.

% Change

TOTAL LISTINGS TOTAL SALES SALES-LISTINGS RATIO MEDIAN SOLD PRICE AVERAGE SOLD PRICE

$1,761,049 $1,718,800 11% 39 355

10% 5% 14% 23% 8%

$1,920,153 $1,926,000 12% 59 485

1.1% -6% 3% -19% -21%

▶ RATIO OF MEDIAN PRICES

▶ RECENT TRENDS

● DETACHED-TO-TOWNHOME ● TOWNHOME-TO-CONDO

● SALES ● TOTAL INVENTORY ● MEDIAN PRICE

448

443

503

491

485

437

1.78

1.74 1.68

332

390

355

382

1.67

1.64

360

1.58

332

321

124

93

81

78

33

95

89

48

75

39

67

59

56

$2.05M

$1.95M $2.03M $2.01M $2.02M $1.95M $1.90M

$1.93M $1.81M

$1.74M $1.80M

$1.72M $1.60M

22-Dec

23-Nov

23-Dec

▶ TOTAL LISTINGS & SALES BY PRICE RANGE

SELLERS' MARKET 21% +

BALANCED 12 - 20%

BUYERS' MARKET <12%

● SALES ● TOTAL INVENTORY ● S-L RATIO

120

100

80

73%

60

40

30%

20

7%

4%

3%

0

<$600K

$600-799K

$800-999K

$1.0M-1.24M $1.25M-1.49M $1.5M-1.99M $2.0M-2.49M $2.5M-2.99M

$3M+

S-L RATIO SALES INVENTORY

11 8 73%

93 28 30%

86 6 7%

80 3 4%

112 3 3%

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.

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