fraser valley board area DETACHED - MARCH 2 0 2 4
SALES TO LISTINGS RATIO 17% BALANCED MARKET
▶ MARKET SUMMARY
AVERAGE PRICE
MEDIAN PRICE
TOTAL INVENTORY
SALES
▲ 8% VS 2023
▲ 9% VS 2023
▲ 41% VS 2023
▼ 19% VS 2023
There were 2,641 detached listings in the Fraser Valley board area in March, 15% above February and 41% higher than March 2023. March detached home sales increased by 5% month-over-month, to 450, and were 19% below March 2023. The sales-to-listing ratio for detached in the Fraser Valley board area, at 17%, reflected a balanced market.
THIS MONTH No. $1,609,578 $1,485,000 17% 450 2,641
PREVIOUS MONTH
PREVIOUS YEAR
No.
% Change
No.
% Change
TOTAL INVENTORY TOTAL SALES SALES-LISTINGS RATIO MEDIAN SOLD PRICE AVERAGE SOLD PRICE
$1,488,105 $1,361,000 30% 556 1,870
-43% -19% 41%
$1,577,165 $1,450,000 19% 427 2,295
2% 2% -8% 5% 15%
The detached median price in March was $1,485,000, a 2% increase from February and 9% above March 2023.
The average sold price was $1,609,578, 2% above last month and up 8% to March 2023.
8% 9%
▶ RATIO OF MEDIAN PRICES
▶ RECENT TRENDS
● DETACHED-TO-TOWNHOME ● TOWNHOME-TO-CONDO
● SALES ● TOTAL INVENTORY ● MEDIAN PRICE
2,861
2,852
3,1353,146
2,724
2,945
2,454
2,641
1.71
1.71
1.68
1.60
1.58
1.58
2,295
2,276
1,870
2,029
1,930
740
427
413
556
344
284
450
628
566
431
358
305
330
$1.52M $1.48M $1.48M $1.48M $1.42M
$1.45M $1.53M
$1.44M $1.45M $1.49M
$1.38M $1.30M
$1.36M
23-Mar
24-Feb
24-Mar
▶ TOTAL LISTINGS & SALES BY PRICE RANGE
SELLERS' MARKET 21% +
BALANCED 12 - 20%
BUYERS' MARKET <12%
● SALES ● TOTAL INVENTORY ● S-L RATIO
800
600
400
33%
28%
28%
18%
200
11%
7%
4%
4%
2%
1%
0
<$1M
$1.0M-1.24M $1.25M-1.49M $1.5M-1.99M $2.0M-2.49M $2.5M-2.99M $3.0M-3.99M $4.0M-4.99M $5.0M-5.99M
$6.0M+
S-L RATIO SALES INVENTORY
108 36 33%
217 61 28%
488 138 28%
805 146 18%
357 38 11%
245 18 7%
188 8 4%
78 3 4%
51 1 2%
104 1 1%
Copyright © 2024 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 April 10, 2024. All data from Greater Vancouver REALTORS®, Fraser Valley Real Estate Board, Whistler Listings System, and 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. 11 ●
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