Home sales were down in Richmond in 2024, compared to 2023, but Greater Vancouver Realtors (GVR) say the last few months have shown stronger sales numbers.
There were 2,949 home sales in Richmond in 2024 – this included 783 single-family homes, 640 townhomes and 1,526 apartments.
In 2023, there were 3,208 homes sold across Richmond.
But comparing December 2024 to December 2023, home sales – of all types – in Richmond were up somewhat. There were 233 homes sold in Richmond this past December whereas only 167 sold in December 2023.
Andrew Lis, GVR’s director of economics and data analytics, said December numbers signal “an emerging pattern of strength in home sales, building on the momentum seen in previous months."
“These more recent sales figures are now trending back towards long-term historical averages, which suggests there may still be quite a bit of potential upside for sales as we head into 2025, should the recent strength continue,” Lis said in a press release.
According to Greater Vancouver Realtors, the benchmark price for a single-family home in Richmond was the fifth highest in the region in December.
Only prices for single-family homes in West Vancouver, the westside of Vancouver, Whistler and South Burnaby were higher than in Richmond.
And, while the $2,140,900 benchmark price for a single-family home may seem high, it is only 1.4 per cent higher than in 2023.
The benchmark price for a Richmond townhouse in December was $1,134,800 - up three per cent in 2024 - and, for an apartment, $724,400, down 1.4 per cent.
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