surrey CONDO - OCTOBER 2 0 2 4
SALES TO LISTINGS RATIO 16% BALANCED MARKET
▶ MARKET SUMMARY
AVERAGE PRICE
AVERAGE PSF PRICE ▲ 3% VS 2023
MEDIAN PRICE
TOTAL INVENTORY
SALES
▲ 1.9% VS 2023
▲ 3% VS 2023
▲ 54% VS 2023
▲ 31% VS 2023
There were 1,244 condo listings in Surrey in October, no change to September and 54% higher than October 2023.
October condo sales increased by 58% month-over-month, to 197, and were 31% above October 2023.
THIS MONTH No.
PREVIOUS MONTH
PREVIOUS YEAR
No. 150 810
% Change
No.
% Change
The sales-to-listing ratio for condos in Surrey, at 16%, re'ected a balanced market.
TOTAL INVENTORY TOTAL SALES SALES-LISTINGS RATIO MEDIAN SOLD PRICE AVERAGE SOLD PRICE AVERAGE PRICE PSF
$731 $555,651 $549,900 16% 197 1,244
3% 1.9% 3% -14% 31% 54%
$711 $537,258 $538,000 10% 125 1,244
58% 58% 0%
The condo median price in October was $549,900, a 2% increase from September and 3% above October 2023. The average sold price was $555,651, 3% above last month; the average PSF sale price was $731, up 3% to last month.
$711 $545,459 $533,750 19%
3% 3% 2%
▶ AVG PRICE PER SQUARE FOOT
▶ RECENT TRENDS
● OCT 2023 ● OCT 2024
● SALES ● TOTAL INVENTORY ● MEDIAN PRICE
1,244
1,141
1,244
1,077
1,164
925
996
792
810
738
670
632
605
225
213
195
193
148
197
150
190
169
162
138
143
125
$574K
$554K
$550K
$550K
$550K
$543K
$542K
$540K
$538K
$534K
$535K
$525K
$525K
SURREY
FVREB
▶ NUMBER OF BEDROOMS
▶ TOTAL LISTINGS & SALES BY PRICE RANGE
SELLERS' MARKET 21% +
BALANCED 12 - 20%
BUYERS' MARKET <12%
● SALES ● TOTAL INVENTORY
● SALES ● TOTAL INVENTORY ● S-L RATIO
400
1 2
4+ bdrms
300
8
3 bdrms
200
60
113
100
19% 16% 16% 17%
15%
2 bdrms
11% 11%
620
9%
0
74
<$400K $400K-499K $500K-599K $600K-699K $700K-799K $800K-899K $900K-999K $1.0M+
<2 bdrms
S-L RATIO SALES INVENTORY
90 17 19%
331 54 16%
364 60 16%
278 46 17%
119 13 11%
38 4 11%
13 2 15%
11 1 9%
563
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 November 12, 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. 46 ●
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