the rennie review - August 2023

new w estm inster CONDO -JULY 2023

SALES TO LISTINGSRATIO 43% SELLERS'M ARKET

▶ MARKETSUMMARY

AVERAGEPRICE

AVERAGE PSF PRICE ▲ 8% VS 2022

MEDIAN PRICE

TOTALLISTINGS

SALES

▲ 6% VS 2022

▲ 12% VS 2022

▲ 12% VS 2022

▲ 26% VS 2022

Therewere181 condolistingsin N ew W estm insterin July,22% aboveJuneand 12% higherthan July2022.

Julycondosalesdecreased by5% m onth-over-m onth,to 78,and were26% aboveJuly2022.

THISMONTH No.

PREVIOUSMONTH

PREVIOUSYEAR

No.

% Change

No.

% Change

Thesales-to-listing ratio forcondosin N ew W estm inster, at43% ,reflected aselers'm arket.

TOTALLISTINGS TOTALSALES

$722 $640,351 $628,500 43% 78 181

$666 $601,534 $561,500 39% 62 161

12% 12% 26% 12%

$715 $638,074 $612,500 55% 82 148

0.9% 0.4% 3% -22% -5% 22%

Thecondom edian pricein Julywas$628,500,a3% increasefrom Juneand 12% aboveJuly2022. Theaveragesold pricewas$640,351,0.4% abovelast m onth;theaveragePSF salepricewas$722,up 0.9% to lastm onth.

SALES-LISTINGSRATIO MEDIAN SOLD PRICE AVERAGESOLD PRICE AVERAGEPRICEPSF

8% 6%

▶ AVG PRICEPERSQUAREFOOT

▶ RECENTTRENDS

● JUL 202 ● JUL 2023

● SALES ● TOTALINVENTORY ● MEDIAN PRICE

171

171

181

161

168

165

130

128

127

148

122

121

97

19

76

78

59

82

62

72

36

52

51

48

44

26

$649K $613K $629K

$631K

$598K $602K $586K

$583K $610K

$575K $555K

$562K $602K

NEW W ESTMINSTER REBGV

▶ NUMBEROFBEDROOMS

▶ TOTALLISTINGS&SALESBYPRICERANGE

SEL ERS'MARKET 21% +

BALANCED 12 - 20%

BUYERS'MARKET <12%

● SALES ● TOTALINVENTORY

● SALES ● TOTALINVENTORY ● S-L RATIO

70

60

4+ bdrms

1

50

75%

40

4

60%

3 bdrms

53%

18

30

44%

20

46

2 bdrms

14%

103

10

8%

0

28

<$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

4 3 75%

55 33 60%

64 34 53%

8%

9 4 44%

7 1 14%

1 0 n/a

1 0 n/a

59

40 3

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