new westminster DETACHED - NOVEMBER 2 0 2 3
SALES TO LISTINGS RATIO 16% BALANCED MARKET
▶ MARKET SUMMARY
AVERAGE PRICE
MEDIAN PRICE
TOTAL LISTINGS
SALES
▲ 5% VS 2022
▼ 11% VS 2022
▼ 6% VS 2022
▼ 24% VS 2022
There were 80 detached listings in New Westminster in November, 10% below October and 5% higher than November 2022. November detached home sales decreased by 19% month-over-month, to 13, and were 24% below November 2022. The sales-to-listing ratio for detached in New Westminster, at 16%, reflected a balanced market. The detached median price in November was $1,288,000, a 20% decrease from October and 6% below November 2022. The average sold price was $1,289,088, 20% below last month and down 11% to November 2022.
THIS MONTH No.
PREVIOUS MONTH
PREVIOUS YEAR
No.
% Change
No.
% Change -20% -20% -10% -19% -10%
TOTAL LISTINGS TOTAL SALES SALES-LISTINGS RATIO MEDIAN SOLD PRICE AVERAGE SOLD PRICE
13 80
17 76
-11% -6% -27% -24% 5%
16 89
$1,289,088 $1,288,000 16%
$1,606,900 $1,617,000 18%
$1,448,406 $1,372,500 22%
▶ RATIO OF MEDIAN PRICES
▶ RECENT TRENDS
● DETACHED-TO-TOWNHOME ● TOWNHOME-TO-CONDO
● SALES ● TOTAL INVENTORY ● MEDIAN PRICE
99
90
89
76
80
85
1.67
1.67
82
81
1.62
1.59
63
74
63
63
1.38
59
1.37
30
25
19
16
16
11
17
9
19
13
18
11
10
$1.74M
$1.67M $1.73M
$1.62M
$1.60M $1.63M
$1.52M
$1.47M $1.53M
$1.37M
$1.29M
$1.24M $1.23M
22-Nov
23-Oct
23-Nov
▶ TOTAL LISTINGS & SALES BY PRICE RANGE
SELLERS' MARKET 21% +
BALANCED 12 - 20%
BUYERS' MARKET <12%
● SALES ● TOTAL INVENTORY ● S-L RATIO
25
20
15
60%
55%
10
22%
5
8%
0
<$600K
$600-799K
$800-999K
$1.0M-1.24M $1.25M-1.49M $1.5M-1.99M $2.0M-2.49M $2.5M-2.99M
$3M+
S-L RATIO SALES INVENTORY
1 0 n/a
5 3 60%
9 2 22%
11 6 55%
25 2 8%
15 0 n/a
9 0 n/a
5 0 n/a
Copyright © 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 December 11, 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.
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