vancouver region DETACHED - MAY 2 0 2 4
SALES TO LISTINGS RATIO 16% BALANCED MARKET
▶ MARKET SUMMARY
AVERAGE PRICE
MEDIAN PRICE
TOTAL INVENTORY
SALES
▲ 43% VS 2023
▼ 0.3% VS 2023
▼ 1.6% VS 2023
▼ 15% VS 2023
There were 8,508 detached listings in the Vancouver Region in May, 9% above April and 43% higher than May 2023. May detached home sales increased by 8% month-over-month, to 1,394, and were 15% below May 2023. The sales-to-listing ratio for detached in the Vancouver Region, at 16%, re)ected a balanced market.
THIS MONTH No.
PREVIOUS MONTH
PREVIOUS YEAR
No.
% Change
No.
% Change
TOTAL INVENTORY TOTAL SALES SALES-LISTINGS RATIO MEDIAN SOLD PRICE AVERAGE SOLD PRICE
1,394 8,508
1,641 5,956
-0.3% -1.6% -41% -15% 43%
1,293 7,809
8% 9%
The detached median price in May was $1,716,250, a 0.8% decrease from April and 1.6% below May 2023.
$2,009,004 $1,716,250 16%
$1,997,396 $1,730,000 17%
0.6% -0.8% -1%
$2,015,273 $1,745,000 28%
The average sold price was $2,009,004, 0.6% above last month and down 0.3% to May 2023.
▶ RATIO OF MEDIAN PRICES
▶ RECENT TRENDS
● DETACHED-TO-TOWNHOME ● TOWNHOME-TO-CONDO
● SALES ● TOTAL INVENTORY ● MEDIAN PRICE
8,508
7,809
7,562
7,489
6,863
6,807
6,608
1.90
1.87
6,946
1.85
5,956
6,488
5,784
5,565
5,207
1.42
1.39
1.39
1,561
1,293
1,641
986
911
1,394
809
712
651
1,141
1,101
993
903
$1.75M $1.69M $1.64M $1.70M $1.71M $1.73M
$1.66M $1.69M $1.73M $1.72M
$1.61M $1.53M $1.60M
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
2,000
1,500
1,000
28%
26%
20%
19%
17%
500
14%
10%
6%
6%
3%
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
426 84 20%
490 137 28%
1,031 270 26%
2,137 406 19%
1,206 202 17%
933 127 14%
1,042 108 10%
466 29 6%
259 16 6%
518 15 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 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. 5 ●
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