the rennie review - October 2022

fraservaley board area DETACHED -SEPTEMBER 202

SALES TO LISTINGSRATIO 12% BALANCEDMARKET

▶ MARKETSUMMARY Therew ere 2,684 detached listingsin the FraserValey board areain Septem ber,4% below Augustand 54% higherthan Septem ber2021. Septem berdetached hom esalesdecreased by 10% m onth-over-m onth,to 325,and were56% below Septem ber2021. Thesales-to-listing ratio fordetached in the FraserValey board area,at12% ,reflected abalanced m arket. Thedetached m edian pricein Septem berwas $1,320,000,a1.5% decreasefrom Augustand 7% below Septem ber2021. Theaveragesold pricewas$1,427,082,3% below last m onth and down 6% toSeptem ber2021.

AVERAGEPRICE

MEDIAN PRICE

TOTALLISTINGS

SALES

▼ 6% VS 2021

▼ 7% VS 2021

▲ 54% VS 2021

▼ 56% VS 2021

THISMONTH No.

PREVIOUSYEAR

PREVIOUSMONTH

No.

% Change

No.

% Change

TOTALLISTINGS TOTALSALES

12% 325 2,684

43% 744 1,741

-72% -56% 54%

13% 362 2,798

-3% -1.5% -6% -10% -4%

SALES-LISTINGSRATIO MEDIAN SOLD PRICE AVERAGESOLD PRICE

$1,476,344 $1,340,000

$1,427,082 $1,320,000

$1,525,574 $1,412,500

-6% -7%

▶ RATIO OFMEDIAN PRICES

▶ RECENTTRENDS

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

● SALES ● TOTALINVENTORY ● MEDIAN PRICE

3,122

2,957

3,031

2,684

2,798

1.85

2,227

2,581

1.70

1.69

1.62

1,788

1.56

1.53

1,741

1,306

1,514

1,014

909

806

777

1,054

744

426

739

362

694

608

522

325

484

344

$1.75M $1.78M $1.70M

$1.61M $1.53M $1.48M

$1.45M $1.56M $1.58M

$1.41M

$1.42M $1.34M $1.32M

Sep-21

Aug-22

Sep-22

▶ TOTALLISTINGS&SALESBYPRICERANGE

SEL ERS'MARKET 21% +

BALANCED 12 - 20%

BUYERS'MARKET <12%

● SALES ● TOTALINVENTORY ● S-L RATIO

700

600

500

400

300

28%

28%

200

20%

19%

18%

100

9%

7%

4%

2%

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

88 18 20%

31 6 19%

144 40 28%

261 72 28%

467 83 18%

715 66 9%

340 15 4%

246 17 7%

392 8 2%

Copyright© October5,202 renniegroupofcom panies.Alrightsreserved.Thism aterialm aynotbereproducedordistributed,inwholeorinpart,withoutthepriorwritenperm is ionoftherenniegroupofcom panies.CurentasofOctober5,202 .Aldatafrom RealEstateBoard ofGreaterVancouverandFraserValey& Ren ie.W hiletheinform ationanddatacontainedhereinhasbe nobtainedfrom sourcesde m edreliable,ac uracycannotbeguarante d.ren iegroupofcom paniesdoesnotas um eresponsibiltyorliabiltyforanyinac uracies.The recipientoftheinform ationshouldtakestepsastherecipientm ayde m neces arytoverifytheinform ationpriortoplacinganyrelianceupontheinform ation.Theinform ationcontainedwithinthisreportshouldnotbeusedasanopinionofvalue,suchopinionsshouldandcanbe obtainedfrom arennieandas ociatesadvisor.Alinform ationissubjecttochangeandanypropertym aybewithdrawnfrom them arketatanytim ewithoutnoticeorobligationtotherecipientfrom renniegroupofcom panies.E.&O.E.

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