the rennie review - January 2022

richmond DETACHED-DECEMBER 2021

SALESTO LISTINGSRATIO 31% SELLERS'MARKET

▶ MARKETSUMMARY Therewere298detachedlistingsinRichmondin December,24%belowNovemberand35%lowerthan December2020. Decemberdetachedhomesalesdecreasedby30% month-over-month,to92,andwere16%below December2020. Thesales-to-listingratiofordetachedinRichmond,at 31%,reflectedaselers'market. ThedetachedmedianpriceinDecemberwas$2,131,000, a2%increasefromNovemberand24%aboveDecember 2020. Theaveragesoldpricewas$2,254,208,0.8%abovelast monthandup20%toDecember2020.

AVERAGEPRICE

MEDIANPRICE

TOTALLISTINGS

SALES

▲ 20% VS2020

▲ 24% VS2020

▼ 35% VS2020

▼ 16% VS2020

THISMONTH No. $2,254,208 $2,131,000 31% 92 298

PREVIOUSYEAR

PREVIOUSMONTH

No. 24% 110 460

%Change

No. 34% 131 390

%Change

TOTALLISTINGS TOTALSALES

20% 24% 29% -16% -35%

0.8% 2% -8% -30% -24%

SALES-LISTINGSRATIO MEDIANSOLDPRICE AVERAGESOLDPRICE

$2,236,131 $2,088,000

$1,871,543 $1,712,500

▶ RATIOOFMEDIANPRICES

▶ RECENTTRENDS

● DETACHED-TO-TOWNHOME ● TOWNHOME-TO-CONDO

● SALES ● TOTALINVENTORY ● MEDIANPRICE

605

588

643

534

61

2.00

551

1.98

455

1.95

515

460

390

458

435

1.68

1.67

1.61

229

298

152

131

14

172

10

136

130

92

16

106

94

70

$2.13M

$2.09M

$1.99M

$1.85M $1.75M

$1.81M

$1.76M

$1.74M

$1.74M

$1.76M

$1.71M

$1.68M

$1.59M

Dec-20

Nov-21

Dec-21

▶ TOTALLISTINGS&SALESBYPRICERANGE

SELERS'MARKET 21%+

BALANCED 12-20%

BUYERS'MARKET <12%

● SALES ● TOTALINVENTORY ● S-LRATIO

100

80

60%

60

50%

40

32%

31%

20

10%

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-LRATIO SALES INVENTORY

0 1 n/a

0 3 n/a

4 2 50%

57 34 60%

67 21 31%

66 21 32%

104 10 10%

Copyright©January10,202reniegroupofcompanies.Alrightsreserved.Thismaterialmaynotbereproducedordistributed,inwholeorinpart,withoutthepriorwritenpermisionoftherenniegroupofcompanies.CurentasofJanuary10,202.AldatafromRealEstate BoardofGreaterVancouverandFraserValey&Rennie.Whiletheinformationanddatacontainedhereinhasbenobtainedfromsourcesdemedreliable,acuracycanotbeguaranted.renniegroupofcompaniesdoesnotasumeresponsibilityorliabilityforanyinacuracies.The recipientoftheinformationshouldtakestepsastherecipientmaydemnecesarytoverifytheinformationpriortoplacinganyrelianceupontheinformation.Theinformationcontainedwithinthisreportshouldnotbeusedasanopinionofvalue,suchopinionsshouldandcanbe obtainedfromarennieandasociatesadvisor.Alinformationissubjecttochangeandanypropertymaybewithdrawnfromthemarketatanytimewithoutnoticeorobligationtotherecipientfromrenniegroupofcompanies.E.&O.E.

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