the rennie review - September 2022

richmond CONDO -AUGUST 202

SALES TO LISTINGSRATIO 24% SELLERS'M ARKET

▶ MARKETSUMMARY

AVERAGEPRICE

AVERAGE PSF PRICE ▲ 8% VS 2021

MEDIAN PRICE

TOTALLISTINGS

SALES

▲ 13% VS 2021

▲ 13% VS 2021

▼ 17% VS 2021

▼ 45% VS 2021

Therewere507 condolistingsin Richm ond in August, 7% below Julyand 17% lowerthan August2021. Augustcondosalesrem ained thesam e m onth-over-m onth,at122,and were45% below August 2021. Thesales-to-listingratio forcondosin Richm ond,at24%, reflected aselers'm arket. Thecondom edian pricein Augustwas$682,500,a8% increasefrom Julyand 13% aboveAugust2021. Theaveragesold pricewas$720,507,7% abovelast m onth;theaveragePSF salepricewas$785,up 1.3% to lastm onth.

THISMONTH No.

PREVIOUSYEAR

PREVIOUSMONTH

No. 36% 222 613

% Change

No. 22% 122 546

% Change

TOTALLISTINGS TOTALSALES

24% 122 507

8% 13% 13% -34% -45% -17%

1.3% 7% 8% 8% 0% -7%

SALES-LISTINGSRATIO MEDIAN SOLD PRICE AVERAGESOLD PRICE AVERAGEPRICEPSF

$785 $720,507 $682,500

$776 $673,566 $632,500

$730 $636,382 $602,150

▶ AVG PRICEPERSQUAREFOOT

▶ RECENTTRENDS

● AUG 2021 ● AUG 202

● SALES ● TOTALINVENTORY ● MEDIAN PRICE

578

613

559

546

512

469

507

509

412

439

344

291

365

243

315

232

222

176

233

230

225

214

194

177

122

122

$683K

$663K $682K $687K $673K $705K

$656K $633K

$602K $625K $620K $628K $639K

RICHMOND

REBGV

▶ NUMBEROFBEDROOMS

▶ TOTALLISTINGS&SALESBYPRICERANGE

SEL ERS'MARKET 21% +

BALANCED 12 - 20%

BUYERS'MARKET <12%

● SALES ● TOTALINVENTORY

● SALES ● TOTALINVENTORY ● S-L RATIO

150

2

4+ bdrms

10

100

13

3 bdrms

91

47%

35%

50

29%

71

25%

2 bdrms

287

13%

11%

8%

0

36

<$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

28 8 29%

73 34 47%

158 56 35%

120 13 11%

64 5 8%

32 4 13%

24 0 n/a

8 2 25%

119

Copyright© Septem ber7,202 renniegroupofcom panies.Alrightsreserved.Thism aterialm aynotbereproducedordistributed,inwholeorinpart,withoutthepriorwritenperm is ionoftherenniegroupofcom panies.CurentasofSeptem ber7,202 .Aldatafrom RealEstateBoardofGreater VancouverandFraserValey& Ren ie.W hiletheinform ationanddatacontainedhereinhasbe nobtainedfrom sourcesde m edreliable,ac uracycannotbeguarante d.renniegroupofcom paniesdoesnotas um eresponsibiltyorliabiltyforanyinac uracies.Therecipientoftheinform ationshould takestepsastherecipientm ayde m neces arytoverifytheinform ationpriortoplacinganyrelianceupontheinform ation.Theinform ationcontainedwithinthisreportshouldnotbeusedasanopinionofvalue,suchopinionsshouldandcanbeobtainedfrom arennieandas ociatesadvisor.Al inform ationissubjecttochangeandanypropertym aybewithdrawnfrom them arketatanytim ewithoutnoticeorobligationtotherecipientfrom ren iegroupofcom panies.E.&O.E. 37 ●

Made with FlippingBook - professional solution for displaying marketing and sales documents online