richmond DETACHED - OCTOBER 2 0 2 4
SALES TO LISTINGS RATIO 17% BALANCED MARKET
▶ MARKET SUMMARY
AVERAGE PRICE
MEDIAN PRICE
TOTAL INVENTORY
SALES
▲ 21% VS 2023
▲ 86% VS 2023
▼ 14% VS 2023
▼ 17% VS 2023
There were 560 detached listings in Richmond in October, 4% below September and 21% higher than October 2023. October detached home sales increased by 94% month-over-month, to 95, and were 86% above October 2023. The sales-to-listing ratio for detached in Richmond, at 17%, re(ected a balanced market. The detached median price in October was $1,865,000, a 0.8% decrease from September and 17% below October 2023. The average sold price was $2,084,906, 1.3% above last month and down 14% to October 2023.
THIS MONTH No. $2,084,906 $1,865,000 17% 95 560
PREVIOUS MONTH
PREVIOUS YEAR
No.
% Change
No.
% Change
TOTAL INVENTORY TOTAL SALES SALES-LISTINGS RATIO MEDIAN SOLD PRICE AVERAGE SOLD PRICE
$2,428,898 $2,245,000 11% 51 464
-14% -17% 54% 86% 21%
$2,057,261 $1,880,000 8% 49 584
1.3% -0.8% 102% 94% -4%
▶ RATIO OF MEDIAN PRICES
▶ RECENT TRENDS
● DETACHED-TO-TOWNHOME ● TOWNHOME-TO-CONDO
● SALES ● TOTAL INVENTORY ● MEDIAN PRICE
537
560
512
584
561
480
441
508
464
2.16
424
390
376
368
1.77
1.67 1.61
1.64
1.48
86
72
68
59
95
55
49
44
40
36
51
77
72
$2.32M $2.19M
$2.25M
$2.19M $2.18M
$2.09M $2.06M $2.20M
$2.01M
$1.98M $1.91M
$1.88M $1.87M
23-Oct
24-Sep
24-Oct
▶ TOTAL LISTINGS & SALES BY PRICE RANGE
SELLERS' MARKET 21% +
BALANCED 12 - 20%
BUYERS' MARKET <12%
● SALES ● TOTAL INVENTORY ● S-L RATIO
140
120
67%
100
80
60
31%
22%
40
11%
6%
20
3%
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
7 0 n/a
1 0 n/a
15 10 67%
142 44 31%
97 21 22%
121 13 11%
108 6 6%
40 1 3%
10 0 n/a
19 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 November 12, 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. 38 ●
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