surrey CONDO - JULY 2 0 2 4
SALES TO LISTINGS RATIO 15% BALANCED MARKET
▶ MARKET SUMMARY
AVERAGE PRICE
AVERAGE PSF PRICE ▼ 3% VS 2023
MEDIAN PRICE
TOTAL INVENTORY
SALES
▲ 75% VS 2023
▼ 3% VS 2023
▼ 2% VS 2023
▼ 24% VS 2023
There were 1,143 condo listings in Surrey in July, 6% above June and 75% higher than July 2023.
July condo sales decreased by 12% month-over-month, to 169, and were 24% below July 2023.
THIS MONTH No.
PREVIOUS MONTH
PREVIOUS YEAR
No. 223 654
% Change
No.
% Change
The sales-to-listing ratio for condos in Surrey, at 15%, reflected a balanced market.
TOTAL INVENTORY TOTAL SALES SALES-LISTINGS RATIO MEDIAN SOLD PRICE AVERAGE SOLD PRICE AVERAGE PRICE PSF
$716 $525,870 $525,000 15% 169 1,143
-57% -24% 75%
$713 $576,564 $574,000 18% 193 1,078
0.4% -9% -9% -17% -12% 6%
The condo median price in July was $525,000, a 9% decrease from June and 2% below July 2023. The average sold price was $525,870, 9% below last month; the average PSF sale price was $716, up 0.4% to last month.
$737 $539,729 $537,000 34%
-3% -3% -2%
▶ AVG PRICE PER SQUARE FOOT
▶ RECENT TRENDS
● JUL 2023 ● JUL 2024
● SALES ● TOTAL INVENTORY ● MEDIAN PRICE
1,078
1,143
925
996
810
792
746
738
654
670
667
632
605
226
213
205
195
223
150
148
169
193
190
162
148
138
$574K
$554K
$550K
$550K
$545K
$543K
$537K
$541K
$542K
$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
6
200
3 bdrms
50%
36
150
35%
100
89
17% 15%
2 bdrms
14%
596
50
5%
2%
0
74
<$400K $400K-499K $500K-599K $600K-699K $700K-799K $800K-899K $900K-999K $1.0M+
<2 bdrms
S-L RATIO SALES INVENTORY
63 22 35%
294 50 17%
349 53 15%
270 37 14%
113 2 2%
44 2 5%
6 3 50%
4 0 n/a
510
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. 46 ●
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