the rennie review - October 2019

fraser valley board area

CONDO - SEPTEMBER 2019

AVERAGE PRICE

AVERAGE PSF PRICE

BENCHMARK PRICE 8 % DOWN

TOTAL LISTINGS

SALES

SALES TO LISTING RATIO

MARKET SUMMARY ›

3 % DOWN

2 % DOWN

3 % DOWN

32 % UP

SELLER’S 24 %

There were1,503 condo listings in the Fraser Valley board area in September, 3% lower vs last month and last year. At 361, condo sales were 9% higher in September than in August and 32% above September 2018. Increasing to 24%, the board area’s condo sales-to- listings ratio reflected seller’s market conditions. The condo benchmark price in September was $405,500, 0.9% below August and 8% lower than in September 2018. The average sold price was $393,142 (0.9% above August), while the average PSF sales price was $446 (0.7% above August).

VS 2018

VS 2018

VS 2018

VS 2018

VS 2018

PREVIOUS MONTH

PREVIOUS YEAR

THIS MONTH No.

No.

% Change

No.

% Change

TOTAL LISTINGS

1,503

1,545

-3%

1,547

-3% 32% 36% -8% -2% -3%

TOTAL SALES

361 24%

331 21%

9%

274 18%

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

12%

$405,500 $409,200 $393,142 $389,647

-0.9% $438,700 0.9% $401,044

$446

$443

0.7%

$461

AVG PRICE PER SQUARE FOOT ›

HISTORICAL TREND

SALES TOTAL INVENTORY BENCHMARK PRICE

$438,700 $422,500 $409,000 $418,000 $416,800 $409,700 $405,500

1,759

1,676

1,599

1,555

1,547

1,503

1,351

395

343

361

343

285

274

256

FVREB

REBGV

TOTAL LISTINGS & SALES BY PRICE RANGE

NUMBER OF BEDROOMS

SALES TOTAL INVENTORY S-L RATIO

SALES TOTAL INVENTORY





SELLER'S MARKET

  



BALANCED

14



3+ bdrms



BUYER'S MARKET

74







232



2 bdrms



1,028









115



<2 bdrms

. . . . 0 0 0 0     QD   QD                

401

S-L RATIO SALES INVENTORY

Copyright © 2019 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 October 3, 2019. All data from RealEstateBoardof 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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