the vancouver rennie review | August 2024

fraser valley board area DETACHED - JULY 2 0 2 4

SALES TO LISTINGS RATIO 11% BUYERS' MARKET

▶ MARKET SUMMARY

AVERAGE PRICE

MEDIAN PRICE

TOTAL INVENTORY

SALES

▲ 35% VS 2023

▼ 1.6% VS 2023

▼ 1.7% VS 2023

▼ 3% VS 2023

There were 3,869 detached listings in the Fraser Valley board area in July, 5% above June and 35% higher than July 2023. July detached home sales decreased by 12% month-over-month, to 417, and were 3% below July 2023. The sales-to-listing ratio for detached in the Fraser Valley board area, at 11%, reflected a buyers' market.

THIS MONTH No. $1,610,389 $1,450,000 11% 417 3,869

PREVIOUS MONTH

PREVIOUS YEAR

No.

% Change

No.

% Change

TOTAL INVENTORY TOTAL SALES SALES-LISTINGS RATIO MEDIAN SOLD PRICE AVERAGE SOLD PRICE

$1,636,755 $1,475,000 15% 431 2,861

-1.6% -1.7% -28% -3% 35%

$1,557,891 $1,435,000 13% 476 3,684

-17% -12% 5%

The detached median price in July was $1,450,000, a 1.0% increase from June and 1.7% below July 2023.

The average sold price was $1,610,389, 3% above last month and down 1.6% to July 2023.

3% 1%

▶ RATIO OF MEDIAN PRICES

▶ RECENT TRENDS

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

● SALES ● TOTAL INVENTORY ● MEDIAN PRICE

3,684

3,869

3,462

3,178

3,135 3,146

2,852

1.74

1.74

1.73

2,861

2,945

1.59

1.58

2,642

1.48

2,296

2,276

2,029

564

430

413

358

343

329

305

283

431

417

497

476

450

$1.48M $1.48M $1.48M $1.42M

$1.45M $1.45M $1.49M $1.50M $1.50M $1.43M $1.45M

$1.38M $1.30M

23-Jul

24-Jun

24-Jul

▶ TOTAL LISTINGS & SALES BY PRICE RANGE

SELLERS' MARKET 21% +

BALANCED 12 - 20%

BUYERS' MARKET <12%

● SALES ● TOTAL INVENTORY ● S-L RATIO

1,200

1,000

800

600

400

21%

18%

18%

11%

200

6%

5%

5%

2%

1%

0

<$1M

$1.0M-1.24M $1.25M-1.49M $1.5M-1.99M $2.0M-2.49M $2.5M-2.99M $3.0M-3.99M $4.0M-4.99M $5.0M-5.99M

$6.0M+

S-L RATIO SALES INVENTORY

181 32 18%

320 67 21%

718 129 18%

1,147 125 11%

547 26 5%

344 21 6%

283 13 5%

123 3 2%

80 0 n/a

126 1 1%

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 August 6, 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. 11 ●

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