surrey CONDO - AUGUST 2 0 2 4
SALES TO LISTINGS RATIO 12% BALANCED MARKET
▶ MARKET SUMMARY
AVERAGE PRICE
AVERAGE PSF PRICE ▼ 6% VS 2023
MEDIAN PRICE
TOTAL INVENTORY
SALES
▲ 75% VS 2023
▼ 1.7% VS 2023
▼ 0.9% VS 2023
▼ 30% VS 2023
There were 1,165 condo listings in Surrey in August, 2% above July and 75% higher than August 2023. August condo sales decreased by 15% month-over-month, to 143, and were 30% below August 2023. The sales-to-listing ratio for condos in Surrey, at 12%, reflected a balanced market. The condo median price in August was $540,000, a 3% increase from July and 0.9% below August 2023. The average sold price was $539,660, 3% above last month; the average PSF sale price was $701, down 2% to last month.
THIS MONTH No.
PREVIOUS MONTH
PREVIOUS YEAR
No. 205 667
% Change
No.
% Change
TOTAL INVENTORY TOTAL SALES SALES-LISTINGS RATIO MEDIAN SOLD PRICE AVERAGE SOLD PRICE AVERAGE PRICE PSF
$701 $539,660 $540,000 12% 143 1,165
-6% -1.7% -0.9% -60% -30% 75%
$716 $525,870 $525,000 15% 169 1,142
-17% -15% 2%
$743 $548,856 $545,000 31%
-2% 3% 3%
▶ AVG PRICE PER SQUARE FOOT
▶ RECENT TRENDS
● AUG 2023 ● AUG 2024
● SALES ● TOTAL INVENTORY ● MEDIAN PRICE
1,165
1,078
1,142
925
996
810
792
746
667
738
670
632
605
225
213
195
193
150
148
205
143
190
169
162
148
138
$574K
$554K
$550K
$550K
$545K
$543K
$541K
$542K
$540K
$534K
$535K
$525K
$525K
SURREY
FVREB
▶ 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
350
4+ bdrms
300
1
250
2
200
3 bdrms
43
150
100
87
18% 15%
2 bdrms
12% 13%
597
8%
50
2%
0
54
<$400K $400K-499K $500K-599K $600K-699K $700K-799K $800K-899K $900K-999K $1.0M+
<2 bdrms
S-L RATIO SALES INVENTORY
68 12 18%
313 46 15%
346 40 12%
273 35 13%
114 9 8%
42 1 2%
7 0 n/a
2 0 n/a
524
Copyright © 2024 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 September 9, 2024. All data from Greater Vancouver REALTORS®, Fraser Valley Real Estate Board, Whistler Listing System, and 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. 46 ●
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