surrey CONDO - JANUARY 2 0 2 4
SALES TO LISTINGS RATIO 27% SELLERS' MARKET
▶ MARKET SUMMARY
AVERAGE PRICE
AVERAGE PSF PRICE ▲ 7% VS 2023
MEDIAN PRICE
TOTAL LISTINGS
SALES
▲ 2.0% VS 2023
▲ 7% VS 2023
▲ 30% VS 2023
▲ 86% VS 2023
There were 605 condo listings in Surrey in January, 4% below December and 30% higher than January 2023. January condo sales increased by 17% month-over-month, to 162, and were 86% above January 2023. The sales-to-listing ratio for condos in Surrey, at 27%, reflected a sellers' market. The condo median price in January was $542,500, a 1.4% increase from December and 7% above January 2023. The average sold price was $538,863, 1.4% below last month; the average PSF sale price was $714, down 0.6% to last month.
THIS MONTH No.
PREVIOUS MONTH
PREVIOUS YEAR
No.
% Change
No. 138 632
% Change
TOTAL LISTINGS TOTAL SALES SALES-LISTINGS RATIO MEDIAN SOLD PRICE AVERAGE SOLD PRICE AVERAGE PRICE PSF
162 605
$666 $528,378 $508,000 19% 87 465
43% 86% 30%
23% 17% -4%
$714 $538,863 $542,500 27%
$718 $546,422 $534,900 22%
-0.6% -1.4% 1.4%
7% 2% 7%
▶ AVG PRICE PER SQUARE FOOT
▶ RECENT TRENDS
● JAN 2023 ● JAN 2024
● SALES ● TOTAL INVENTORY ● MEDIAN PRICE
746
810 792
669
604
667
654
605
632
497
465
496
485
260
237
222
205
150
148
236
223
162
148
148
87
138
$558K
$555K
$545K
$542K
$543K
$537K
$541K
$535K
$532K
$534K
$525K
$508K
$500K
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
100%
300
4+ bdrms
1
250
6
200
3 bdrms
39
150
42%
29%
100
91
23%
2 bdrms
323
50
4%
0
65
<$400K $400-599K $600-799K $800-999K $1.0M-1.24M $1.25M-1.49M $1.5M-1.99M $2M+
<2 bdrms
S-L RATIO SALES INVENTORY
33 14 42%
327 96 29%
217 50 23%
25 1 4%
1 1 100%
1 0 n/a
1 0 n/a
242
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. 46 ●
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