new westminster DETACHED - MAY 2 0 2 4
SALES TO LISTINGS RATIO 11% BUYERS' MARKET
▶ MARKET SUMMARY
AVERAGE PRICE
MEDIAN PRICE
TOTAL INVENTORY
SALES
▲ 48% VS 2023
▼ 18% VS 2023
▼ 14% VS 2023
▼ 53% VS 2023
There were 126 detached listings in New Westminster in May, 7% above April and 48% higher than May 2023.
May detached home sales increased by 17% month-over-month, to 14, and were 53% below May 2023.
THIS MONTH No. $1,419,136 $1,434,500 11% 14 126
PREVIOUS MONTH
PREVIOUS YEAR
No.
% Change
No.
% Change
The sales-to-listing ratio for detached in New Westminster, at 11%, re(ected a buyers' market.
TOTAL INVENTORY TOTAL SALES SALES-LISTINGS RATIO MEDIAN SOLD PRICE AVERAGE SOLD PRICE
30 85
-18% -14% -69% -53% 48%
$1,758,025 $1,659,000 10% 12 118
-19% -14% 9% 17% 7%
The detached median price in May was $1,434,500, a 14% decrease from April and 14% below May 2023.
$1,723,963 $1,665,000 35%
The average sold price was $1,419,136, 19% below last month and down 18% to May 2023.
▶ RATIO OF MEDIAN PRICES
▶ RECENT TRENDS
● DETACHED-TO-TOWNHOME ● TOWNHOME-TO-CONDO
● SALES ● TOTAL INVENTORY ● MEDIAN PRICE
126
118
101
99
1.75
90
89
1.68
80
85
1.53
1.52
1.52
82
81
1.45
74
68
67
25
30
21
19
16
10
10
10
7
14
19
13
12
$1.90M
$1.74M $1.62M
$1.67M $1.73M
$1.60M $1.63M
$1.56M $1.55M $1.66M
$1.43M
$1.29M $1.40M
23-May
24-Apr
24-May
▶ TOTAL LISTINGS & SALES BY PRICE RANGE
SELLERS' MARKET 21% +
BALANCED 12 - 20%
BUYERS' MARKET <12%
● SALES ● TOTAL INVENTORY ● S-L RATIO
40
30
67%
20
41%
10
7%
0
<$1M
$1.0M-1.24M $1.25M-1.49M $1.5M-1.99M $2.0M-2.49M $2.5M-2.99M $3.0M-3.99M $4.0M-4.99M $5.0M-5.99M
$6.0M+
S-L RATIO SALES INVENTORY
4 0 n/a
3 2 67%
22 9 41%
42 3 7%
20 0 n/a
13 0 n/a
15 0 n/a
5 0 n/a
1 0 n/a
1 0 n/a
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 June 10, 2024. All data from Greater Vancouver REALTORS®, Fraser Valley Real Estate Board, Whistler Listing System, and 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. 29 ●
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