the rennie review | September 2023

fraservaley board area DETACHED -AUGUST 2023

SALES TO LISTINGSRATIO 15% BALANCEDMARKET

▶ MARKETSUMMARY Therew ere 3,023 detached listingsin the FraserValey board areain August,3% aboveJulyand 8% higherthan August2022. Augustdetached hom esalesrem ained thesam e m onth-over-m onth,at450,and were24% aboveAugust 2022. Thesales-to-listing ratio fordetached in the FraserValey board area,at15% ,reflected abalanced m arket.

AVERAGEPRICE

MEDIAN PRICE

TOTALLISTINGS

SALES

▲ 3% VS 2022

▲ 8% VS 2022

▲ 8% VS 2022

▲ 24% VS 2022

THISMONTH No.

PREVIOUSMONTH

PREVIOUSYEAR

No.

% Change

No.

% Change

TOTALLISTINGS TOTALSALES

15% 450 3,023

13% 363 2,810

15% 24% 8%

15% 450 2,946

0% 3%

Thedetachedm edian pricein Augustwas$1,442,500,a 1.0% decreasefrom Julyand 8% aboveAugust2022.

SALES-LISTINGSRATIO MEDIAN SOLD PRICE AVERAGESOLD PRICE

-5% -1% -3%

Theaveragesold pricewas$1,511,131,5% below last m onth and up 3% toAugust2022.

$1,588,941 $1,456,500

$1,511,131 $1,442,500

$1,469,836 $1,340,000

3% 8%

▶ RATIO OFMEDIAN PRICES

▶ RECENTTRENDS

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

● SALES ● TOTALINVENTORY ● MEDIAN PRICE

3,023

2,794

2,699

2,810

2,946

2,533

2,344

1.75

2,541

1.72

1.70

1,939

1.58

1.53

1.53

1,998

1,858

1,848

1,752

772

590

327

313

659

258

450

213

590

363

450

325

323

$1.50M $1.50M $1.46M $1.44M

$1.35M $1.43M

$1.34M $1.32M $1.32M

$1.24M $1.28M $1.28M $1.31M

22-Aug

23-Jul 23-Aug

▶ TOTALLISTINGS&SALESBYPRICERANGE

SEL ERS'MARKET 21% +

BALANCED 12 - 20%

BUYERS'MARKET <12%

● SALES ● TOTALINVENTORY ● S-L RATIO

1000

800

600

51%

400

31%

26%

19%

200

17%

14%

11%

6%

3%

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

67 34 51%

31 6 19%

124 32 26%

251 78 31%

551 96 17%

930 133 14%

382 42 11%

255 15 6%

432 14 3%

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