CONDO JULY richmond
AVERAGE PRICE
AVERAGE PSF PRICE 4 % UP
BENCHMARK PRICE 5 % UP
TOTAL LISTINGS
SALES
SALES TO LISTING RATIO
MARKET SUMMARY ›
2 % UP
24 % DOWN
SELLER’S 24 %
11 % UP
The number of condo listings in Richmond increased by 2% between June and July (to 694), but decreased by 24% vs July 2019. The number of condo sales increased by 22% vs June (to 164) and rose 11% vs July 2019. The sales-to-listings ratio increased to 24%, as Richmond’s condo market transitioned to seller’s market territory. The condo benchmark price was $651,000 in July, relatively unchanged from June and 5% higher vs July 2019. The average sold price was $568,363 (up 1.4% vs June) while the average PSF sales price was $677 (0.3% higher vs June).
VS
VS
VS
VS
VS
PREVIOUS MONTH
PREVIOUS YEAR
THIS MONTH No.
No. 680 134 20%
% Change
No. 915 148 16%
% Change
TOTAL LISTINGS
694 164 24%
2%
-24% 11% 46%
TOTAL SALES
22% 20%
SALES-LISTINGS RATIO BENCHMARK PRICE AVERAGE SOLD PRICE AVERAGE PRICE PSF
$651,000 $650,700 $568,363 $560,624
0.0% $622,500 1.4% $555,857
5% 2% 4%
$677
$675
0.3%
$652
AVG PRICE PER SQUARE FOOT ›
HISTORICAL TREND
›
SALES
TOTAL INVENTORY
BENCHMARK PRICE
$655,400 $652,800 $651,000
$622,500 $627,100 $627,100 $634,600
915
852
708
694
657
612
560
166
164
148
136
134
101
64
RICHMOND
REBGV
TOTAL LISTINGS & SALES BY PRICE RANGE
NUMBER OF BEDROOMS
›
›
SALES
TOTAL INVENTORY
S L RATIO
SALES TOTAL INVENTORY
SELLER'S MARKET
BALANCED
16
3+ bdrms
BUYER'S MARKET
117
81
2 bdrms
412
67
<2 bdrms
. . . . 0 0 0 0 QD
165
S-L RATIO SALES INVENTORY
Copyright © 2020 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 August 7, 2020. All data from Real Estate Board of Greater Vancouver and Fraser Valley & 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 All information is subject to change and any property may be withdrawn from the market at any time without notice or obligation to the recipient from rennie group of companies.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.
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