richmond CONDO - JUNE 2 0 2 4
SALES TO LISTINGS RATIO 19% BALANCED MARKET
▶ MARKET SUMMARY
AVERAGE PRICE
AVERAGE PSF PRICE ▲ 2% VS 2023
MEDIAN PRICE
TOTAL INVENTORY
SALES
▲ 4% VS 2023
▲ 44% VS 2023
▼ 0.2% VS 2023
▼ 32% VS 2023
There were 682 condo listings in Richmond in June, 3% above May and 44% higher than June 2023.
June condo sales decreased by 13% month-over-month, to 131, and were 32% below June 2023.
THIS MONTH No.
PREVIOUS MONTH
PREVIOUS YEAR
No. 193 474
% Change
No. 151 663
% Change
The sales-to-listing ratio for condos in Richmond, at 19%, reflected a balanced market.
TOTAL INVENTORY TOTAL SALES SALES-LISTINGS RATIO MEDIAN SOLD PRICE AVERAGE SOLD PRICE AVERAGE PRICE PSF
131 682
2% -0.2% 4% -53% -32% 44%
1.7% -3% 4% -16% -13% 3%
The condo median price in June was $726,000, a 4% increase from May and 4% above June 2023. The average sold price was $729,969, 3% below last month; the average PSF sale price was $856, up 1.7% to last month.
$856 $729,969 $726,000 19%
$836 $731,627 $700,000 41%
$842 $752,896 $700,000 23%
▶ AVG PRICE PER SQUARE FOOT
▶ RECENT TRENDS
● JUN 2023 ● JUN 2024
● SALES ● TOTAL INVENTORY ● MEDIAN PRICE
682
663
563
527
599
504
482
543
541
474
452
446
444
194
182
193
126
97
131
163
151
142
130
107
96
92
$730K
$734K
$726K
$700K
$698K
$700K
$698K
$700K
$688K
$690K
$680K
$679K
$644K
RICHMOND
REBGV
▶ NUMBER OF BEDROOMS
▶ TOTAL LISTINGS & SALES BY PRICE RANGE
SELLERS' MARKET 21% +
BALANCED 12 - 20%
BUYERS' MARKET <12%
● SALES ● TOTAL INVENTORY
● SALES ● TOTAL INVENTORY ● S-L RATIO
200
4+ bdrms
17
150
11
3 bdrms
113
100
29% 28%
80
50
15%
2 bdrms
10%
371
9%
0
40
<$600K $600K-799K $800K-999K $1.0M-1.24M $1.25M-1.49M $1.5M-1.99M $2.0M-2.49M $2.5M+
<2 bdrms
S-L RATIO SALES INVENTORY
119 34 29%
210 58 28%
182 28 15%
79 7 9%
39 4 10%
25 0 n/a
10 0 n/a
18 0 n/a
181
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. 40 ●
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