richmond
CONDO - OCTOBER 2019
AVERAGE PRICE
AVERAGE PSF PRICE
BENCHMARK PRICE 6 % DOWN
TOTAL LISTINGS
SALES
SALES TO LISTING RATIO
MARKET SUMMARY ›
22 % UP
9 % UP
SELLER’S 21 %
8 % DOWN
5 % DOWN
The number of condo listings in Richmond decreased 13% between September and October (to 721), but rose by 9% from last October. The number of condo sales increased by 13% vs September (to 151) and by 22% vs October 2018. The sales-to-listings ratio increased to 21%, as Richmond’s condo market transitioned to seller’s market territory. The condo benchmark price was $625,500 in October, relatively unchanged from September and 6% lower than in October 2018. The average sold price was $545,444 (down 3% vs September) while the average PSF sales price was $654 (4% above month-over-month).
VS 2018
VS 2018
VS 2018
VS 2018
VS 2018
PREVIOUS MONTH
PREVIOUS YEAR
THIS MONTH No.
No. 829 134 16%
% Change
No. 663 124 19%
% Change
TOTAL LISTINGS
721 151 21%
-13% 13% 30%
9%
TOTAL SALES
22% 12% -6% -8% -5%
SALES-LISTINGS RATIO BENCHMARK PRICE AVERAGE SOLD PRICE AVERAGE PRICE PSF
$625,500 $627,100 $545,444 $561,071
-0.3% $666,600 -3% $591,924
$654
$630
4%
$685
AVG PRICE PER SQUARE FOOT ›
HISTORICAL TREND
›
SALES TOTAL INVENTORY BENCHMARK PRICE
$666,600 $648,900 $642,100 $639,300 $628,500 $626,700 $625,500
921
903
829
721
671
663
532
151
128
124
119
90
89
66
RICHMOND
REBGV
TOTAL LISTINGS & SALES BY PRICE RANGE
NUMBER OF BEDROOMS
›
›
SALES TOTAL INVENTORY S-L RATIO
SALES TOTAL INVENTORY
SELLER'S MARKET
BALANCED
7
3+ bdrms
BUYER'S MARKET
121
88
2 bdrms
412
56
<2 bdrms
. . . . 0 0 0 0 QD QD
188
S-L RATIO SALES INVENTORY
Copyright © 2019 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 November 6, 2019. All data from RealEstateBoard ofGreaterVancouverandFraserValley & 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.
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