richmond TOWNHOME - MAY 2 0 2 4
SALES TO LISTINGS RATIO 31% SELLERS' MARKET
▶ MARKET SUMMARY
AVERAGE PRICE
AVERAGE PSF PRICE ▲ 1.0% VS 2023
MEDIAN PRICE
TOTAL INVENTORY
SALES
▲ 4% VS 2023
▲ 8% VS 2023
▲ 35% VS 2023
▼ 17% VS 2023
There were 217 townhome listings in Richmond in May, 13% above April and 35% higher than May 2023.
May townhome sales increased by 13% month-over-month, to 68, and were 17% below May 2023.
THIS MONTH No. $769 $1,142,775 $1,156,500 31% 68 217
PREVIOUS MONTH
PREVIOUS YEAR
No.
% Change
No.
% Change
The sales-to-listing ratio for townhomes in Richmond, at 31%, re%ected a sellers' market.
TOTAL INVENTORY TOTAL SALES SALES-LISTINGS RATIO MEDIAN SOLD PRICE AVERAGE SOLD PRICE AVERAGE PRICE PSF
$761 $1,103,885 $1,072,500 51% 82 161
-38% -17% 35%
$794 $1,126,461 $1,150,000 31% 60 192
-3% 1.4% 0.6% 0.3% 13% 13%
The townhome median price in May was $1,156,500, a 0.6% increase from April and 8% above May 2023. The average sold price was $1,142,775, 1.4% above last month; the average PSF sale price was $769, down 3% to last month.
1% 4% 8%
▶ AVG PRICE PER SQUARE FOOT
▶ RECENT TRENDS
● MAY 2023 ● MAY 2024
● SALES ● TOTAL INVENTORY ● MEDIAN PRICE
217
192
190
184
166
187
177
161
167
156
146
145
140
82
68
60
56
68
71
43
60
57
49
35
25
25
$1.22M $1.17M
$1.19M $1.22M $1.20M $1.15M $1.16M
$1.13M $1.10M
$1.07M
$1.04M $1.09M $1.10M
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
70
19
4+ bdrms
60
57
75%
50
44
53%
40
3 bdrms
135
30
30% 30%
5
20
2 bdrms
13%
24
10
0
<2 bdrms
<$600K $600K-799K $800K-999K $1.0M-1.24M $1.25M-1.49M $1.5M-1.99M $2.0M-2.49M $2.5M+
1
S-L RATIO SALES INVENTORY
1 0 n/a
4 3 75%
38 20 53%
70 21 30%
64 19 30%
38 5 13%
2 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. 39 ●
Made with FlippingBook - professional solution for displaying marketing and sales documents online