port moody CONDO - MAY 2 0 2 4
SALES TO LISTINGS RATIO 33% SELLERS' MARKET
▶ MARKET SUMMARY
AVERAGE PRICE
AVERAGE PSF PRICE ▲ 1.0% VS 2023
MEDIAN PRICE
TOTAL INVENTORY
SALES
▲ 4% VS 2023
▲ 9% VS 2023
▼ 8% VS 2023
▼ 54% VS 2023
There were 79 condo listings in Port Moody in May, no change to April and 8% lower than May 2023.
May condo sales decreased by 21% month-over-month, to 26, and were 54% below May 2023.
THIS MONTH No.
PREVIOUS MONTH
PREVIOUS YEAR
No.
% Change
No.
% Change
The sales-to-listing ratio for condos in Port Moody, at 33%, re&ected a sellers' market.
TOTAL INVENTORY TOTAL SALES SALES-LISTINGS RATIO MEDIAN SOLD PRICE AVERAGE SOLD PRICE AVERAGE PRICE PSF
26 79
56 86
-49% -54% -8%
33 79
1.5% 3% 5% -21% -21% 0%
The condo median price in May was $801,000, a 5% increase from April and 9% above May 2023. The average sold price was $789,515, 3% above last month; the average PSF sale price was $855, up 1.5% to last month.
$855 $789,515 $801,000 33%
$846 $760,763 $733,500 65%
$842 $765,237 $760,000 42%
1% 4% 9%
▶ AVG PRICE PER SQUARE FOOT
▶ RECENT TRENDS
● MAY 2023 ● MAY 2024
● SALES ● TOTAL INVENTORY ● MEDIAN PRICE
86
79
79
72
66
59
57
54
56
46
55
55
41
51
34
33
31
41
39
25
23
26
20
17
12
11
$801K
$780K
$771K
$760K
$750K
$741K
$734K
$730K
$720K
$710K
$683K
$655K
$638K
PORT MOODY
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
4+ bdrms
30
1
60%
1
20
3 bdrms
3
40%
33%
31%
20
10
2 bdrms
14%
61
0
5
<$600K $600K-799K $800K-999K $1.0M-1.24M $1.25M-1.49M $1.5M-1.99M $2.0M-2.49M $2.5M+
<2 bdrms
S-L RATIO SALES INVENTORY
5 3 60%
25 10 40%
36 11 31%
7 1 14%
3 1 33%
2 0 n/a
1 0 n/a
14
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. 37 ●
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