richmond TOWNHOME - NOVEMBER 2 0 2 3
SALES TO LISTINGS RATIO 14% BALANCED MARKET
▶ MARKET SUMMARY
AVERAGE PRICE
AVERAGE PSF PRICE ▲ 11% VS 2022
MEDIAN PRICE
TOTAL LISTINGS
SALES
▲ 7% VS 2022
▲ 4% VS 2022
▼ 5% VS 2022
▼ 48% VS 2022
There were 183 townhome listings in Richmond in November, 1.6% below October and 5% lower than November 2022. November townhome sales decreased by 42% month-over-month, to 25, and were 48% below November 2022. The sales-to-listing ratio for townhomes in Richmond, at 14%, reflected a balanced market. The townhome median price in November was $1,090,000, a 5% increase from October and 4% above November 2022. The average sold price was $1,156,584, 8% above last month; the average PSF sale price was $781, up 4% to last month.
THIS MONTH No. $781 $1,156,584 $1,090,000 14% 25 183
PREVIOUS MONTH
PREVIOUS YEAR
No.
% Change
No.
% Change
TOTAL LISTINGS TOTAL SALES SALES-LISTINGS RATIO MEDIAN SOLD PRICE AVERAGE SOLD PRICE AVERAGE PRICE PSF
$703 $1,075,902 $1,045,000 25% 48 192
11% 7% 4% -45% -48% -5%
$752 $1,075,158 $1,037,000 23% 43 186
-41% -42% -1.6%
4% 8% 5%
▶ AVG PRICE PER SQUARE FOOT
▶ RECENT TRENDS
● NOV 2022 ● NOV 2023
● SALES ● TOTAL INVENTORY ● MEDIAN PRICE
182
192
183
166
189
186
177
167
161
160
157
148
140
82
72
68
60
71
46
70
43
48
36
49
25
16
$1.22M $1.17M
$1.10M $1.15M $1.07M $1.17M
$1.13M $1.10M
$1.05M $1.09M
$1.04M $1.09M
$979K
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
70
7
60
4+ bdrms
44
50
16
40
3 bdrms
114
30
33%
2
20
2 bdrms
16%
16% 14%
25
10%
10
0
<2 bdrms
<$400K $400-599K $600-799K $800-999K $1.0M-1.24M $1.25M-1.49M $1.5M-1.99M $2M+
S-L RATIO SALES INVENTORY
4 0 n/a
6 2 33%
32 5 16%
65 9 14%
49 5 10%
25 4 16%
2 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. 39 ●
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