richmond DETACHED - NOVEMBER 2 0 2 3
SALES TO LISTINGS RATIO 12% BALANCED MARKET
▶ MARKET SUMMARY
AVERAGE PRICE
MEDIAN PRICE
TOTAL LISTINGS
SALES
▲ 9% VS 2022
▲ 6% VS 2022
▼ 0.3% VS 2022
▼ 4% VS 2022
There were 441 detached listings in Richmond in November, 5% below October and 9% higher than November 2022. November detached home sales increased by 8% month-over-month, to 55, and were 6% above November 2022. The sales-to-listing ratio for detached in Richmond, at 12%, reflected a balanced market. The detached median price in November was $1,980,000, a 12% decrease from October and 4% below November 2022. The average sold price was $2,140,723, 12% below last month and down 0.3% to November 2022.
THIS MONTH No. $2,140,723 $1,980,000 12% 55 441
PREVIOUS MONTH
PREVIOUS YEAR
No.
% Change
No.
% Change
TOTAL LISTINGS TOTAL SALES SALES-LISTINGS RATIO MEDIAN SOLD PRICE AVERAGE SOLD PRICE
$2,146,311 $2,055,000 13% 52 404
6% 9%
$2,428,898 $2,245,000 11% 51 464
-12% -12% 13% 8% -5%
-0.3% -4% -3%
▶ RATIO OF MEDIAN PRICES
▶ RECENT TRENDS
● DETACHED-TO-TOWNHOME ● TOWNHOME-TO-CONDO
● SALES ● TOTAL INVENTORY ● MEDIAN PRICE
458
426
481
441
404
464
459
349
2.16
378
1.97
343
340
335
330
1.82
1.61
1.60
1.48
109
93
92
73
37
92
26
55
52
64
59
57
51
$2.25M
$2.06M
$2.00M
$2.00M $2.02M $2.06M $2.01M $2.10M
$1.98M
$1.95M $1.85M
$1.85M
$1.78M
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
140
100%
120
100
60%
80
60
40
22%
19%
20
5%
5%
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
4 0 n/a
1 0 n/a
1 0 n/a
1 1 100%
10 6 60%
102 22 22%
75 14 19%
104 5 5%
143 7 5%
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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