vancouver region TOWNHOME - MAY 2 0 2 4
SALES TO LISTINGS RATIO 29% SELLERS' MARKET
▶ MARKET SUMMARY
AVERAGE PRICE
AVERAGE PSF PRICE ▲ 0.0% VS 2023
MEDIAN PRICE
TOTAL INVENTORY
SALES
▲ 0.8% VS 2023
▲ 55% VS 2023
▼ 0.1% VS 2023
▼ 14% VS 2023
There were 2,779 townhome listings in the Vancouver Region in May, 13% above April and 55% higher than May 2023. May townhome sales decreased by 6% month-over-month, to 808, and were 14% below May 2023.
THIS MONTH No. $671 $1,015,414 $921,161 29% 808 2,779
PREVIOUS MONTH
PREVIOUS YEAR
No.
% Change
No.
% Change
The sales-to-listing ratio for townhomes in the Vancouver Region, at 29%, re)ected a sellers' market.
TOTAL INVENTORY TOTAL SALES SALES-LISTINGS RATIO MEDIAN SOLD PRICE AVERAGE SOLD PRICE AVERAGE PRICE PSF
$671 $1,007,399 $922,000 53% 944 1,788
0% 0.8% -0.1% -45% -14% 55%
$671 $1,026,258 $935,000 35% 859 2,459
-0.1% -1.1% -1.5% -17% -6% 13%
The townhome median price in May was $921,161, a 1.5% decrease from April and 0.1% below May 2023. The average sold price was $1,015,414, 1.1% below last month; the average PSF sale price was $671, down 0.1% to last month.
▶ AVG PRICE PER SQUARE FOOT
▶ RECENT TRENDS
● MAY 2023 ● MAY 2024
● SALES ● TOTAL INVENTORY ● MEDIAN PRICE
2,779
2,459
2,148
2,084
1,997
1,883
1,856
1,838
2,022
1,788
1,879
1,585
1,543
947
859
783
944
808
481
767
669
600
580
518
452
364
$950K
$938K
$935K
$922K
$915K
$920K
$910K
$920K
$910K
$921K
$900K
$900K
$889K
Vancouver Region
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
156
800
4+ bdrms
591
600
443
3 bdrms
1,476
400
36% 34%
31%
25%
204
21%
2 bdrms
200
14% 12%
667
10%
0
5
<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+
45
S-L RATIO SALES INVENTORY
113 24 21%
488 176 36%
869 298 34%
494 154 31%
397 100 25%
276 40 14%
65 8 12%
77 8 10%
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. 6 ●
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