richmond CONDO - SEPTEMBER 2 0 2 3
SALES TO LISTINGS RATIO 25% SELLERS' MARKET
▶ MARKET SUMMARY
AVERAGE PRICE
AVERAGE PSF PRICE ▲ 10% VS 2022
MEDIAN PRICE
TOTAL LISTINGS
SALES
▲ 13% VS 2022
▲ 1.4% VS 2022
▲ 1.3% VS 2022
▲ 8% VS 2022
There were 528 condo listings in Richmond in September, 17% above August and 1.3% higher than September 2022. September condo sales decreased by 33% month-over-month, to 130, and were 8% above September 2022. The sales-to-listing ratio for condos in Richmond, at 25%, reflected a sellers' market. The condo median price in September was $644,000, a 8% decrease from August and 1.4% above September 2022. The average sold price was $708,412, 5% below last month; the average PSF sale price was $834, down 1.6% to last month.
THIS MONTH No.
PREVIOUS MONTH
PREVIOUS YEAR
No. 120 521
% Change
No. 194 452
% Change
TOTAL LISTINGS TOTAL SALES SALES-LISTINGS RATIO MEDIAN SOLD PRICE AVERAGE SOLD PRICE AVERAGE PRICE PSF
130 528
10% 13% 1.4% 7% 8% 1.3%
-1.6% -5% -8% -43% -33% 17%
$834 $708,412 $644,000 25%
$760 $624,559 $635,000 23%
$847 $748,021 $698,400 43%
▶ AVG PRICE PER SQUARE FOOT
▶ RECENT TRENDS
● SEP 2022 ● SEP 2023
● SALES ● TOTAL INVENTORY ● MEDIAN PRICE
499
528
521
482
478
474
451
438
454
452
427
380
369
193
193
194
181
126
172
163
130
120
118
109
96
81
$700K
$700K
$698K
$683K
$680K
$675K
$660K
$658K
$650K
$645K
$652K
$644K
$635K
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
140
4+ bdrms
120
11
100
65%
7
80
3 bdrms
91
60
38%
78
40
2 bdrms
14% 12%
298
12%
20
4%
4%
3%
0
45
<$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
26 3 12%
65 42 65%
144 55 38%
129 18 14%
74 9 12%
37 1 3%
27 1 4%
26 1 4%
128
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. 40 ●
Made with FlippingBook - professional solution for displaying marketing and sales documents online