the vancouver rennie review | July 2024

new westminster DETACHED - JUNE 2 0 2 4

SALES TO LISTINGS RATIO 15% BALANCED MARKET

▶ MARKET SUMMARY

AVERAGE PRICE

MEDIAN PRICE

TOTAL INVENTORY

SALES

▲ 22% VS 2023

▼ 15% VS 2023

▼ 9% VS 2023

▼ 5% VS 2023

There were 121 detached listings in New Westminster in June, 4% below May and 22% higher than June 2023.

June detached home sales increased by 29% month-over-month, to 18, and were 5% below June 2023.

THIS MONTH No. $1,610,833 $1,577,500 15% 18 121

PREVIOUS MONTH

PREVIOUS YEAR

No.

% Change

No.

% Change

The sales-to-listing ratio for detached in New Westminster, at 15%, reflected a balanced market.

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

19 99

-15% -9% -22% -5% 22%

$1,418,779 $1,434,500 11% 14 126

14% 10% 34% 29% -4%

The detached median price in June was $1,577,500, a 10% increase from May and 9% below June 2023.

$1,897,421 $1,730,000 19%

The average sold price was $1,610,833, 14% above last month and down 15% to June 2023.

▶ RATIO OF MEDIAN PRICES

▶ RECENT TRENDS

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

● SALES ● TOTAL INVENTORY ● MEDIAN PRICE

118

121

126

101

99

1.91

90

89

80

1.74

82

81

74

1.53

68

67

1.48

1.45

1.44

25

21

19

16

19

10

10

10

18

7

14

13

12

$1.90M

$1.73M

$1.74M $1.62M

$1.60M $1.63M

$1.58M

$1.56M $1.55M $1.66M

$1.43M

$1.29M $1.40M

23-Jun

24-May

24-Jun

▶ TOTAL LISTINGS & SALES BY PRICE RANGE

SELLERS' MARKET 21% +

BALANCED 12 - 20%

BUYERS' MARKET <12%

● SALES ● TOTAL INVENTORY ● S-L RATIO

40

30

50%

20

33%

24%

21%

10

13%

5%

0

<$1M

$1.0M-1.24M $1.25M-1.49M $1.5M-1.99M $2.0M-2.49M $2.5M-2.99M $3.0M-3.99M $4.0M-4.99M $5.0M-5.99M

$6.0M+

S-L RATIO SALES INVENTORY

3 1 33%

2 1 50%

21 5 24%

42 9 21%

21 1 5%

8 1 13%

17 0 n/a

5 0 n/a

1 0 n/a

1 0 n/a

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 July 8, 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. 29 ●

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