new westminster CONDO - SEPTEMBER 2 0 2 3
SALES TO LISTINGS RATIO 34% SELLERS' MARKET
▶ MARKET SUMMARY
AVERAGE PRICE
AVERAGE PSF PRICE ▲ 2% VS 2022
MEDIAN PRICE
TOTAL LISTINGS
SALES
▲ 2% VS 2022
▲ 3% VS 2022
▲ 8% VS 2022
▼ 4% VS 2022
There were 164 condo listings in New Westminster in September, 5% below August and 4% lower than September 2022. September condo sales decreased by 11% month-over-month, to 55, and were 8% above September 2022. The sales-to-listing ratio for condos in New Westminster, at 34%, reflected a sellers' market. The condo median price in September was $593,800, a 8% decrease from August and 3% above September 2022. The average sold price was $608,236, 5% below last month; the average PSF sale price was $721, down 1.2% to last month.
THIS MONTH No.
PREVIOUS MONTH
PREVIOUS YEAR
No.
% Change
No.
% Change
TOTAL LISTINGS TOTAL SALES SALES-LISTINGS RATIO MEDIAN SOLD PRICE AVERAGE SOLD PRICE AVERAGE PRICE PSF
$721 $608,236 $593,800 34% 55 164
$706 $595,893 $575,000 30% 51 171
2% 2% 3% 12% 8% -4%
$730 $642,112 $647,900 36% 62 172
-1.2% -5% -8% -7% -11% -5%
▶ AVG PRICE PER SQUARE FOOT
▶ RECENT TRENDS
● SEP 2022 ● SEP 2023
● SALES ● TOTAL INVENTORY ● MEDIAN PRICE
171
181
171
164
172
168
130
128
127
148
122
121
119
96
78
76
59
82
72
55
51
62
36
52
44
26
$650K
$648K
$631K
$629K
$610K
$613K
$602K
$598K
$594K
$586K
$583K
$575K
$555K
NEW WESTMINSTER
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
80
70
100%
4+ bdrms
2
60
50
2
3 bdrms
40
17
47%
30
32%
31
20
2 bdrms
19%
91
10
0
22
<$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
3 3 100%
53 25 47%
73 23 32%
21 4 19%
10 0 n/a
4 0 n/a
54
Copyright © October 10, 2023 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 October 10, 2023. 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. 31 ●
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