the rennie review - January 2021

surrey

CONDO - DECEMBER 2020

AVERAGE PRICE

AVERAGE PSF PRICE 6 % UP

BENCHMARK PRICE 5 % UP

TOTAL LISTINGS

SALES

SALES TO LISTING RATIO

MARKET SUMMARY ›

7 % UP

25 % UP

37 % UP

SELLER’S 39 %

Condo listings in Surrey decreased to 596 in December, 30% below November but 25% higher vs December 2019. Condo sales, at 231, were up 15% month-over- month and 37% higher year-over-year. The sales-to-listings ratio increased to 39%, reflect- ing seller’s market conditions in Surrey. December’s condo benchmark price of $403,600 was 0.4% above November and 5% higher vs December 2019. The average sold price was $424,394 at an average PSF sales price of $530 (up 2% and 5%, respectively, from November).

VS 2019

VS 2019

VS 2019

VS 2019

VS 2019

PREVIOUS MONTH

PREVIOUS YEAR

THIS MONTH No.

No. 855 201 24%

% Change

No. 477 169 35%

% Change

TOTAL LISTINGS

596 231 39%

-30% 15% 65%

25% 37%

TOTAL SALES

SALES-LISTINGS RATIO BENCHMARK PRICE AVERAGE SOLD PRICE AVERAGE PRICE PSF

9% 5% 7% 6%

$403,600 $402,000 $424,394 $414,597

0.4% $384,200 2% $397,695

$530

$506

5%

$499

AVG PRICE PER SQUARE FOOT ›

HISTORICAL TREND

SALES

TOTAL INVENTORY

BENCHMARK PRICE

$405,700 $400,500 $403,000 $400,700 $403,600

$384,200 $394,800

922

897

746

596

610

558

477

240

231

207

179

169

169

70

SURREY

FVREB

TOTAL LISTINGS & SALES BY PRICE RANGE

NUMBER OF BEDROOMS

SALES

TOTAL INVENTORY

S-L RATIO

SALES TOTAL INVENTORY



SELLER'S MARKET

  



BALANCED



10



BUYER'S MARKET

3+ bdrms

36







138



2 bdrms

407



 



83



<2 bdrms

. . . . 0 0 0 0     QD QD QD QD                

153

S-L RATIO SALES INVENTORY

Copyright © 2020 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 January 6, 2021. 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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