the rennie review - August 2021

richmond CONDO-JULY 2021

SALESTO LISTINGSRATIO 35% SELLER'SMARKET

▶ MARKETSUMMARY

AVERAGEPRICE

AVERAGE PSFPRICE ▲ 8% VS2020

MEDIANPRICE

TOTALLISTINGS

SALES

▲ 13% VS2020

▲ 16% VS2020

▼ 4% VS2020

▲ 44% VS2020

Therewere680condolistingsinRichmondinJuly,7% belowJuneand4%lowerthanJuly2020.

Julycondosalesincreasedby17%month-over-month,to 236,andwere44%aboveJuly2020.

THISMONTH No.

PREVIOUSYEAR

PREVIOUSMONTH

No. 23% 164 706

%Change

No. 28% 202 729

%Change

Thesales-to-listingratioforcondosinRichmond,at35%, reflectedaseler'smarket.

TOTALLISTINGS TOTALSALES

35% 236 680

8% 13% 16% 49% 44% -4%

25% 17% -7%

ThecondomedianpriceinJulywas$620,000,a0change fromJuneand16%aboveJuly2020. Theaveragesoldpricewas$638,930,0.7%belowlast month;theaveragePSFsalepricewas$728,down0.9% tolastmonth.

SALES-LISTINGSRATIO MEDIANSOLDPRICE AVERAGESOLDPRICE AVERAGEPRICEPSF

$728 $638,930 $620,000

$722 $643,593 $620,000

0.9% -0.7% 0%

$677 $567,327 $535,000

▶ AVGPRICEPERSQUAREFOOT

▶ RECENTTRENDS

● JUL 2020 ● JUL 2021

● SALES ● TOTALINVENTORY ● MEDIANPRICE

729

692

781

774

769

763

706

680

629

641

619 645

606

341

303

204

236

154

250

164

202

197

178

157

142

142

$620K

$620K

$605K

$601K

$588K

$581K

$570K

$561K

$546K

$539K

$535K

$535K

$530K

RICHMOND

REBGV

▶ NUMBEROFBEDROOMS

▶ TOTALLISTINGS&SALESBYPRICERANGE

SELER'SMARKET 21%+

BALANCED 12-20%

BUYER'SMARKET <12%

● SALES ● TOTALINVENTORY

● SALES ● TOTALINVENTORY ● S-LRATIO

200

4+bdrms

7

150

18

3bdrms

51% 49%

117

100

29%

151

22%

50

2bdrms

410

12% 15%

5%

0

67

<$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

65 19 29%

175 90 51%

209 102 49%

123 15 12%

41 6 15%

43 2 5%

15 0 n/a

9 2 22%

146

Copyright©August9,2021renniegroupofcompanies.Alrightsreserved.Thismaterialmaynotbereproducedordistributed,inwholeorinpart,withoutthepriorwritenpermisionoftherenniegroupofcompanies.CurentasofAugust9,2021.AldatafromRealEstateBoardofGreaterVancouver andFraserValey&Rennie.Whiletheinformationanddatacontainedhereinhasbenobtainedfromsourcesdemedreliable,acuracycannotbeguaranted.reniegroupofcompaniesdoesnotasumeresponsibilityorliabilityforanyinacuracies.Therecipientoftheinformationshouldtakesteps astherecipientmaydemnecesarytoverifytheinformationpriortoplacinganyrelianceupontheinformation.Theinformationcontainedwithinthisreportshouldnotbeusedasanopinionofvalue,suchopinionsshouldandcanbeobtainedfromarennieandasociatesadvisor.Alinformationis subjecttochangeandanypropertymaybewithdrawnfromthemarketatanytimewithoutnoticeorobligationtotherecipientfromreniegroupofcompanies.E.&O.E. 31 ●

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