fraser valley board area DETACHED - JANUARY 2 0 2 4
SALES TO LISTINGS RATIO 16% BALANCED MARKET
▶ MARKET SUMMARY
AVERAGE PRICE
MEDIAN PRICE
TOTAL LISTINGS
SALES
▲ 14% VS 2023
▲ 9% VS 2023
▲ 19% VS 2023
▲ 62% VS 2023
There were 2,091 detached listings in the Fraser Valley board area in January, 11% below December and 19% higher than January 2023. January detached home sales increased by 16% month-over-month, to 345, and were 62% above January 2023. The sales-to-listing ratio for detached in the Fraser Valley board area, at 16%, reflected a balanced market.
THIS MONTH No. $1,528,373 $1,400,000 16% 345 2,091
PREVIOUS MONTH
PREVIOUS YEAR
No.
% Change
No.
% Change
TOTAL LISTINGS TOTAL SALES SALES-LISTINGS RATIO MEDIAN SOLD PRICE AVERAGE SOLD PRICE
$1,341,182 $1,280,000 12% 213 1,750
14% 9% 36% 62% 19%
$1,442,605 $1,292,500 13% 298 2,338
29% 16% -11%
The detached median price in January was $1,400,000, a 8% increase from December and 9% above January 2023.
The average sold price was $1,528,373, 6% above last month and up 14% to January 2023.
6% 8%
▶ RATIO OF MEDIAN PRICES
▶ RECENT TRENDS
● DETACHED-TO-TOWNHOME ● TOWNHOME-TO-CONDO
● SALES ● TOTAL INVENTORY ● MEDIAN PRICE
3,216
2,944
2,921
3,218
2,793
3,022
2,532
1.72
1.66
1.59
1.571.57
1,938
2,338
2,091
1.50
1,998
1,750
1,847
772
590
447
370
298
657
590
345
448
213
375
322
319
$1.50M $1.50M $1.46M $1.43M
$1.46M $1.40M
$1.35M $1.43M
$1.35M $1.29M $1.40M
$1.28M $1.32M
23-Jan
23-Dec
24-Jan
▶ TOTAL LISTINGS & SALES BY PRICE RANGE
SELLERS' MARKET 21% +
BALANCED 12 - 20%
BUYERS' MARKET <12%
● SALES ● TOTAL INVENTORY ● S-L RATIO
600
500
400
300
44%
200
28%
26%
22%
21%
16%
100
8%
5%
3%
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-L RATIO SALES INVENTORY
54 12 22%
24 5 21%
81 23 28%
154 67 44%
362 95 26%
613 101 16%
283 23 8%
187 9 5%
333 10 3%
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 February 7, 2024. 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.
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