the rennie review | September 2023

surey CONDO -AUGUST 2023

SALES TO LISTINGSRATIO 31% SELLERS'M ARKET

▶ MARKETSUMMARY

AVERAGEPRICE

AVERAGE PSF PRICE ▲ 8% VS 2022

MEDIAN PRICE

TOTALLISTINGS

SALES

▲ 3% VS 2022

▲ 6% VS 2022

▲ 15% VS 2022

▲ 22% VS 2022

Therewere668condolistingsin Sur eyin August,2% aboveJulyand 15% higherthan August2022.

Augustcondosalesdecreased by8% m onth-over-m onth, to205,and were22% aboveAugust2022.

THISMONTH No.

PREVIOUSMONTH

PREVIOUSYEAR

No. 29% 168 580

% Change

No. 34% 224 654

% Change

Thesales-to-listing ratio forcondosin Sur ey,at31%, reflected aselers'm arket.

TOTALLISTINGS TOTALSALES

31% 205 668

22% 15%

0.7% 1.6% 1.4% -10% -8% 2%

Thecondom edian pricein Augustwas$545,000,a1.4% increasefrom Julyand 6% aboveAugust2022. Theaveragesold pricewas$548,856,1.6% abovelast m onth;theaveragePSF salepricewas$742,up 0.7% to lastm onth.

SALES-LISTINGSRATIO MEDIAN SOLD PRICE AVERAGESOLD PRICE AVERAGEPRICEPSF

8% 3% 6% 6%

$742 $548,856 $545,000

$737 $540,176 $537,500

$688 $531,035 $515,000

▶ AVG PRICEPERSQUAREFOOT

▶ RECENTTRENDS

● AUG 202 ● AUG 2023

● SALES ● TOTALINVENTORY ● MEDIAN PRICE

668

604

590

669

576

654

580

579

497

496

485

463 465

260

237

222

205

236

224

130

168

104

148

136

16

87

$530K $515K

$525K $532K $558K $555K $538K $545K

$515K $506K

$480K $508K $500K

SURREY

FVREB

▶ NUMBEROFBEDROOMS

▶ TOTALLISTINGS&SALESBYPRICERANGE

SEL ERS'MARKET 21% +

BALANCED 12 - 20%

BUYERS'MARKET <12%

● SALES ● TOTALINVENTORY

● SALES ● TOTALINVENTORY ● S-L RATIO

400

4+ bdrms

1

300

10

3 bdrms

56%

200

37

31% 29%

114

100

2 bdrms

19%

356

0

81

<$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

34 19 56%

378 116 31%

225 65 29%

27 5 19%

2 0 n/a

1 0 n/a

1 0 n/a

274

Copyright© Septem ber5,2023renniegroupofcom panies.Alrightsreserved.Thism aterialm aynotbereproducedordistributed,inwholeorinpart,withoutthepriorwritenperm is ionoftherenniegroupofcom panies.CurentasofSeptem ber5,2023.Aldatafrom RealEstateBoardofGreater VancouverandFraserValey& Ren ie.W hiletheinform ationanddatacontainedhereinhasbe nobtainedfrom sourcesde m edreliable,ac uracycannotbeguarante d.renniegroupofcom paniesdoesnotas um eresponsibiltyorliabiltyforanyinac uracies.Therecipientoftheinform ationshould takestepsastherecipientm ayde m neces arytoverifytheinform ationpriortoplacinganyrelianceupontheinform ation.Theinform ationcontainedwithinthisreportshouldnotbeusedasanopinionofvalue,suchopinionsshouldandcanbeobtainedfrom arennieandas ociatesadvisor.Al inform ationissubjecttochangeandanypropertym aybewithdrawnfrom them arketatanytim ewithoutnoticeorobligationtotherecipientfrom ren iegroupofcom panies.E.&O.E. 46 ●

Made with FlippingBook - professional solution for displaying marketing and sales documents online