the rennie review | December 2023

vancouver region TOWNHOME - NOVEMBER 2 0 2 3

SALES TO LISTINGS RATIO 24% SELLERS' MARKET

▶ MARKET SUMMARY

AVERAGE PRICE

AVERAGE PSF PRICE ▲ 7% VS 2022

MEDIAN PRICE

TOTAL LISTINGS

SALES

▲ 8% VS 2022

▲ 6% VS 2022

▲ 0.4% VS 2022

▲ 16% VS 2022

There were 2,005 townhome listings in the Vancouver Region in November, 7% below October and 0.4% higher than November 2022. November townhome sales decreased by 7% month-over-month, to 481, and were 16% above November 2022. The sales-to-listing ratio for townhomes in the Vancouver Region, at 24%, reflected a sellers' market. The townhome median price in November was $910,000, a 1.1% decrease from October and 6% above November 2022. The average sold price was $1,001,997, 0.2% below last month; the average PSF sale price was $669, down 1.3% to last month.

THIS MONTH No. $669 $1,001,997 $910,000 24% 481 2,005

PREVIOUS MONTH

PREVIOUS YEAR

No.

% Change

No.

% Change

TOTAL LISTINGS TOTAL SALES SALES-LISTINGS RATIO MEDIAN SOLD PRICE AVERAGE SOLD PRICE AVERAGE PRICE PSF

$623 $925,084 $860,000 21% 415 1,998

15% 16% 0.4%

$678 $1,003,527 $920,000 24% 518 2,154

-7% -7%

-1.3% -0.2% -1.1% -0.2%

7% 8% 6%

▶ AVG PRICE PER SQUARE FOOT

▶ RECENT TRENDS

● NOV 2022 ● NOV 2023

● SALES ● TOTAL INVENTORY ● MEDIAN PRICE

2,154

1,998

1,885

2,005

2,086

1,789 1,840

1,883

1,571

1,589

1,567

1,529

1,507

947

944

757

548

784

767

670

481

580

415

518

339

289

$922K

$920K

$920K

$915K

$910K

$910K

$899K

$900K

$860K

$860K

$865K

$840K

$810K

Vancouver Region

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

600

102

4+ bdrms

444

500

400

239

3 bdrms

1,082

300

39%

32%

31%

200

26%

131

23%

22%

2 bdrms

16%

438

100

6%

0

9

<2 bdrms

<$400K $400-599K $600-799K $800-999K $1.0M-1.24M $1.25M-1.49M $1.5M-1.99M $2M+

41

S-L RATIO SALES INVENTORY

31 10 32%

74 29 39%

355 110 31%

626 144 23%

376 98 26%

223 50 22%

194 32 16%

126 8 6%

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. 6 ●

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