greater vancouver board area DETACHED - MAY 2 0 2 4
SALES TO LISTINGS RATIO 16% BALANCED MARKET
▶ MARKET SUMMARY
AVERAGE PRICE
MEDIAN PRICE
TOTAL INVENTORY
SALES
▲ 3% VS 2023
▲ 3% VS 2023
▲ 44% VS 2023
▼ 18% VS 2023
There were 5,046 detached listings in the Greater Vancouver board area in May, 9% above April and 44% higher than May 2023. May detached home sales increased by 4% month-over-month, to 829, and were 18% below May 2023. The sales-to-listing ratio for detached in the Greater Vancouver board area, at 16%, re)ected a balanced market. The detached median price in May was $1,970,000, a 1.3% increase from April and 3% above May 2023.
THIS MONTH No. $2,255,550 $1,970,000 16% 829 5,046
PREVIOUS MONTH
PREVIOUS YEAR
No.
% Change
No.
% Change
TOTAL INVENTORY TOTAL SALES SALES-LISTINGS RATIO MEDIAN SOLD PRICE AVERAGE SOLD PRICE
1,013 3,502
-43% -18% 44%
$2,221,214 $1,944,500 17% 796 4,631
4% 9%
1.5% 1.3% -4%
$2,200,301 $1,912,000 29%
The average sold price was $2,255,550, 1.5% above last month and up 3% to May 2023.
3% 3%
▶ RATIO OF MEDIAN PRICES
▶ RECENT TRENDS
● DETACHED-TO-TOWNHOME ● TOWNHOME-TO-CONDO
● SALES ● TOTAL INVENTORY ● MEDIAN PRICE
5,046
4,631
4,427
4,343
4,011
3,946
3,884
1.84
1.84
1.78
4,001
3,846
3,502
3,488
3,289
3,178
1.51
1.49
1.45
796
710
1,013
567
556
504
829
368
383
821
651
580
545
$1.93M $1.88M $1.80M $1.81M
$1.93M $1.92M $1.94M $1.97M
$1.91M $1.88M
$1.78M $1.91M $1.86M
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
1,000
800
600
400
28%
27%
20%
20%
18%
17%
12%
200
8%
7%
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
264 47 18%
187 51 27%
381 108 28%
1,070 217 20%
767 151 20%
627 108 17%
790 92 12%
371 28 8%
191 14 7%
398 13 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. 8 ●
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