the rennie review - September 2022

new w estm inster CONDO -AUGUST 202

SALES TO LISTINGSRATIO 29% SELLERS'M ARKET

▶ MARKETSUMMARY

AVERAGEPRICE

AVERAGE PSF PRICE ▲ 4% VS 2021

MEDIAN PRICE

TOTALLISTINGS

SALES

▲ 7% VS 2021

▲ 10% VS 2021

▼ 27% VS 2021

▼ 53% VS 2021

Therewere165 condolistingsin N ew W estm insterin August,2% aboveJulyand 27% lowerthan August2021. Augustcondosalesdecreased by24% m onth-over-m onth,to48,and were53% below August 2021. Thesales-to-listing ratio forcondosin N ew W estm inster, at29% ,reflected aselers'm arket. Thecondom edian pricein Augustwas$602,400,a7% increasefrom Julyand 10% aboveAugust2021. Theaveragesold pricewas$602,650,0.1% abovelast m onth;theaveragePSF salepricewas$682,up 1.9% to lastm onth.

THISMONTH No.

PREVIOUSYEAR

PREVIOUSMONTH

No. 45% 102 225

% Change

No.

% Change

TOTALLISTINGS TOTALSALES

$682 $602,650 $602,400 29% 48 165

4% 7% 10% -36% -53% -27%

$669 $602,271 $563,000 39% 63 161

1.9% 0.1% 7% -26% -24% 2%

SALES-LISTINGSRATIO MEDIAN SOLD PRICE AVERAGESOLD PRICE AVERAGEPRICEPSF

$658 $561,754 $549,950

▶ AVG PRICEPERSQUAREFOOT

▶ RECENTTRENDS

● AUG 2021 ● AUG 202

● SALES ● TOTALINVENTORY ● MEDIAN PRICE

241

225

209

179

175

165

149

161 161

129

18

10

104

133

19

102

80

81

104

102

96

95

82

73

63

48

$641K $675K

$630K

$630K $590K

$570K $614K

$563K $602K

$550K $564K $561K $558K

NEW W ESTMINSTER REBGV

▶ NUMBEROFBEDROOMS

▶ TOTALLISTINGS&SALESBYPRICERANGE

SEL ERS'MARKET 21% +

BALANCED 12 - 20%

BUYERS'MARKET <12%

● SALES ● TOTALINVENTORY

● SALES ● TOTALINVENTORY ● S-L RATIO

80

70

4+ bdrms

1

60

50

1

3 bdrms

40

14

42%

30

29%

29%

29

20

2 bdrms

104

13%

10

0

18

<$400K $400-599K $600-799K $800-999K $1.0M -1.24M $1.25M -1.49M $1.5M -1.99M $2M +

<2 bdrms

S-L RATIO SALES INVENTORY

7 2 29%

52 22 42%

73 21 29%

23 3 13%

2 0 n/a

5 0 n/a

2 0 n/a

1 0 n/a

46

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