the rennie review | September 2023

fraservaley board area CONDO -AUGUST 2023

SALES TO LISTINGSRATIO 31% SELLERS'M ARKET

▶ MARKETSUMMARY Therewere1,342 condolistingsin theFraserValey board areain August,4% aboveJulyand 9% higherthan August2022. Augustcondosalesdecreased by10% m onth-over-m onth,to414,and were36% aboveAugust 2022. Thesales-to-listing ratio forcondosin the FraserValey board area,at31% ,reflected aselers'm arket. Thecondom edian pricein Augustwas$540,000,a0.4% increasefrom Julyand 5% aboveAugust2022. Theaveragesold pricewas$557,198,0.4% below last m onth;theaveragePSF salepricewas$678,up 1.4% to lastm onth.

AVERAGEPRICE

AVERAGE PSF PRICE ▲ 6% VS 2022

MEDIAN PRICE

TOTALLISTINGS

SALES

▲ 3% VS 2022

▲ 5% VS 2022

▲ 9% VS 2022

▲ 36% VS 2022

THISMONTH No.

PREVIOUSMONTH

PREVIOUSYEAR

No.

% Change

No.

% Change

TOTALLISTINGS TOTALSALES

31% 414 1,342

25% 305 1,236

25% 36% 9%

36% 460 1,287

1.4% -0.4% 0.4% -14% -10% 4%

SALES-LISTINGSRATIO MEDIAN SOLD PRICE AVERAGESOLD PRICE AVERAGEPRICEPSF

$678 $557,198 $540,000

$668 $559,509 $537,750

$641 $539,217 $514,900

6% 3% 5%

▶ AVG PRICEPERSQUAREFOOT

▶ RECENTTRENDS

● AUG 202 ● AUG 2023

● SALES ● TOTALINVENTORY ● MEDIAN PRICE

1,272

1,342

1,237

1,190

1,236

1,306

1,303

1,287

1,073

1,060

1,062

1,017

975

569

491

517

414

487

460

273

305

285

279

277

217

198

$515K $500K $505K $490K $485K $497K $499K

$510K $510K $535K $528K $538K $540K

FVREB

REBGV

▶ NUMBEROFBEDROOMS

▶ TOTALLISTINGS&SALESBYPRICERANGE

SEL ERS'MARKET 21% +

BALANCED 12 - 20%

BUYERS'MARKET <12%

● SALES ● TOTALINVENTORY

● SALES ● TOTALINVENTORY ● S-L RATIO

700

4+ bdrms

600

3

500

23

400

3 bdrms

91

300

43%

33%

30%

200

258

24%

2 bdrms

18%

791

100

10%

0

133

<$400K $400-599K $600-799K $800-999K $1.0M -1.24M $1.25M -1.49M $1.5M -1.99M $2M +

<2 bdrms

S-L RATIO SALES INVENTORY

107 46 43%

680 224 33%

411 122 30%

88 16 18%

21 5 24%

13 0 n/a

10 1 10%

12 0 n/a

457

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