the rennie review - September 2022

new w estm inster DETACHED -AUGUST 202

SALES TO LISTINGSRATIO 14% BALANCEDMARKET

▶ MARKETSUMMARY

AVERAGEPRICE

MEDIAN PRICE

TOTALLISTINGS

SALES

▼ 3% VS 2021

▼ 3% VS 2021

▲ 33% VS 2021

▼ 43% VS 2021

Therew ere 84 detached listingsin N ew W estm insterin August,3% below Julyand 33% higherthan August2021. Augustdetached hom esalesincreased by9% m onth-over-m onth,to12,and were43% below August 2021. Thesales-to-listing ratio fordetached in N ew W estm inster,at14% ,reflected abalanced m arket.

THISMONTH No.

PREVIOUSYEAR

PREVIOUSMONTH

No.

% Change

No.

% Change

TOTALLISTINGS TOTALSALES

12 84

21 63

-57% -43% 33%

11 87

2% 5% 13% 9% -3%

Thedetachedm edian pricein Augustwas$1,550,000,a 5% increasefrom Julyand 3% below August2021.

SALES-LISTINGSRATIO MEDIAN SOLD PRICE AVERAGESOLD PRICE

$1,558,917 $1,550,000 14%

$1,528,591 $1,472,500 13%

$1,614,300 $1,605,000 33%

Theaveragesold pricewas$1,558,917,2.0% abovelast m onth and down 3% toAugust2021.

-3% -3%

▶ RATIO OFMEDIAN PRICES

▶ RECENTTRENDS

● DETACHED-TO-TOWNHOME ● TOWNHOME-TO-CONDO

● SALES ● TOTALINVENTORY ● MEDIAN PRICE

84

90

84

78

88

87

1.86

68

1.80

1.78

56

63

1.57

60

48

1.47

45

1.43

32

41 21

29

28

20

21

23

23

18

12

14

13

1

$1.61M

$1.60M $1.70M $1.68M $1.64M $1.70M

$1.48M

$1.47M $1.55M

$1.40M $1.50M

$1.35M

$1.34M

Aug.-21

Jul.-22

Aug.-22

▶ TOTALLISTINGS&SALESBYPRICERANGE

SEL ERS'MARKET 21% +

BALANCED 12 - 20%

BUYERS'MARKET <12%

● SALES ● TOTALINVENTORY ● S-L RATIO

35

30

25

20

50%

15

10

21%

17%

5

10%

0

<$600K

$600-799K

$800-999K

$1.0M -1.24M $1.25M -1.49M $1.5M -1.99M

$2.0M -2.49M

$2.5M -2.99M

$3M+

S-L RATIO SALES INVENTORY

2 0 n/a

2 1 50%

19 4 21%

35 6 17%

10 1 10%

10 0 n/a

6 0 n/a

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