surrey DETACHED - MARCH 2 0 2 4
SALES TO LISTINGS RATIO 16% BALANCED MARKET
▶ MARKET SUMMARY
AVERAGE PRICE
MEDIAN PRICE
TOTAL INVENTORY
SALES
▲ 8% VS 2023
▲ 7% VS 2023
▲ 45% VS 2023
▼ 18% VS 2023
There were 1,274 detached listings in Surrey in March, 14% above February and 45% higher than March 2023. March detached home sales increased by 9% month-over-month, to 203, and were 18% below March 2023. The sales-to-listing ratio for detached in Surrey, at 16%, reflected a balanced market.
THIS MONTH No. $1,763,178 $1,596,500 16% 203 1,274
PREVIOUS MONTH
PREVIOUS YEAR
No. 249 876
% Change
No.
% Change
TOTAL INVENTORY TOTAL SALES SALES-LISTINGS RATIO MEDIAN SOLD PRICE AVERAGE SOLD PRICE
-44% -18% 45%
$1,702,127 $1,589,000 17% 186 1,119
4% 0.5% -4% 9% 14%
The detached median price in March was $1,596,500, a 0.5% increase from February and 7% above March 2023.
$1,625,716 $1,488,000 28%
The average sold price was $1,763,178, 4% above last month and up 8% to March 2023.
8% 7%
▶ RATIO OF MEDIAN PRICES
▶ RECENT TRENDS
● DETACHED-TO-TOWNHOME ● TOWNHOME-TO-CONDO
● SALES ● TOTAL INVENTORY ● MEDIAN PRICE
1,497
1,358
1,350
1,269
1,460
1,392
1,274
1,132
1.81
1.79
1.79
1.70
1,119
1,094
1.59
1.58
977
876
945
299
291
186
178
166
249
134
130
124
203
256
175
148
$1.65M $1.67M $1.59M $1.62M $1.59M
$1.49M $1.53M
$1.50M $1.50M $1.43M
$1.50M $1.59M $1.60M
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
500
400
300
200
30%
27%
20%
15%
100
12%
7%
5%
3%
3%
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
13 2 15%
30 9 30%
217 59 27%
456 90 20%
227 27 12%
125 9 7%
94 5 5%
30 1 3%
30 1 3%
52 0 n/a
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 Listing 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. 44 ●
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