the vancouver rennie review | June 2024

greater vancouver board area TOWNHOME - MAY 2 0 2 4

SALES TO LISTINGS RATIO 29% SELLERS' MARKET

▶ MARKET SUMMARY

AVERAGE PRICE

AVERAGE PSF PRICE ▼ 1.9% VS 2023

MEDIAN PRICE

TOTAL INVENTORY

SALES

▲ 3% VS 2023

▲ 55% VS 2023

▼ 0.3% VS 2023

▼ 12% VS 2023

There were 1,536 townhome listings in the Greater Vancouver board area in May, 10% above April and 55% higher than May 2023. May townhome sales decreased by 4% month-over-month, to 439, and were 12% below May 2023.

THIS MONTH No. $775 $1,141,480 $1,080,000 29% 439 1,536

PREVIOUS MONTH

PREVIOUS YEAR

No. 499 991

% Change

No.

% Change

The sales-to-listing ratio for townhomes in the Greater Vancouver board area, at 29%, re)ected a sellers' market.

TOTAL INVENTORY TOTAL SALES SALES-LISTINGS RATIO MEDIAN SOLD PRICE AVERAGE SOLD PRICE AVERAGE PRICE PSF

-1.9% -0.3% 3% -43% -12% 55%

$784 $1,164,761 $1,089,900 33% 455 1,391

-1.1% -2% -0.9% -13% -4% 10%

The townhome median price in May was $1,080,000, a 0.9% decrease from April and 3% above May 2023. The average sold price was $1,141,480, 2.0% below last month; the average PSF sale price was $775, down 1.1% to last month.

$790 $1,145,193 $1,050,000 50%

▶ AVG PRICE PER SQUARE FOOT

▶ RECENT TRENDS

● MAY 2023 ● MAY 2024

● SALES ● TOTAL INVENTORY ● MEDIAN PRICE

1,536

1,391

1,218

1,173

1,116

1,031

1,033

1,028

1,143

991

1,020

874

863

470

455

499

399

351

439

319

298

267

391

302

220

179

$1.05M $1.09M $1.09M $1.07M $1.10M $1.05M $1.05M $1.05M $1.07M $1.08M $1.10M $1.09M $1.08M

REBGV

FVREB

▶ 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

350

66

4+ bdrms

300

249

250

254

200

3 bdrms

852

44%

40% 37%

150

25%

115

100

2 bdrms

14% 13%

13%

396

11%

50

0

4

<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+

39

S-L RATIO SALES INVENTORY

45 6 13%

142 63 44%

312 124 40%

289 107 37%

339 85 25%

269 38 14%

64 8 13%

76 8 11%

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. 9 ●

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