richmond CONDO - NOVEMBER 2 0 2 3
SALES TO LISTINGS RATIO 17% BALANCED MARKET
▶ MARKET SUMMARY
AVERAGE PRICE
AVERAGE PSF PRICE ▲ 17% VS 2022
MEDIAN PRICE
TOTAL LISTINGS
SALES
▲ 6% VS 2022
▲ 5% VS 2022
▲ 29% VS 2022
▼ 12% VS 2022
There were 564 condo listings in Richmond in November, 4% above October and 29% higher than November 2022. November condo sales decreased by 24% month-over-month, to 96, and were 12% below November 2022. The sales-to-listing ratio for condos in Richmond, at 17%, reflected a balanced market. The condo median price in November was $679,450, a 3% decrease from October and 5% above November 2022. The average sold price was $716,151, 1.6% below last month; the average PSF sale price was $862, down 1.6% to last month.
THIS MONTH No.
PREVIOUS MONTH
PREVIOUS YEAR
No. 109 438
% Change
No. 127 542
% Change
TOTAL LISTINGS TOTAL SALES SALES-LISTINGS RATIO MEDIAN SOLD PRICE AVERAGE SOLD PRICE AVERAGE PRICE PSF
$862 $716,151 $679,450 17% 96 564
17% 6% 5% -32% -12% 29%
-1.6% -1.6% -3% -27% -24% 4%
$734 $677,631 $650,000 25%
$876 $727,909 $699,000 23%
▶ AVG PRICE PER SQUARE FOOT
▶ RECENT TRENDS
● NOV 2022 ● NOV 2023
● SALES ● TOTAL INVENTORY ● MEDIAN PRICE
564
528
482
478
474
542
451
438
454
452
427
380
369
194
193
193
181
127
172
163
109
130
96
118
96
81
$700K
$700K
$698K
$699K
$683K
$680K
$679K
$675K
$658K
$650K
$645K
$652K
$644K
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
150
4+ bdrms
11
100
8
3 bdrms
106
42%
50
52
2 bdrms
20%
19%
16%
303
6%
5%
5%
0
36
<$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 5 19%
66 28 42%
161 32 20%
151 24 16%
81 4 5%
35 2 6%
21 1 5%
23 0 n/a
144
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. 40 ●
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