fraser valley board area DETACHED - FEBRUARY 2 0 2 4
SALES TO LISTINGS RATIO 19% BALANCED MARKET
▶ MARKET SUMMARY
AVERAGE PRICE
MEDIAN PRICE
TOTAL LISTINGS
SALES
▲ 7% VS 2023
▲ 10% VS 2023
▲ 27% VS 2023
▲ 38% VS 2023
There were 2,352 detached listings in the Fraser Valley board area in February, 12% above January and 27% higher than February 2023. February detached home sales increased by 29% month-over-month, to 445, and were 38% above February 2023. The sales-to-listing ratio for detached in the Fraser Valley board area, at 19%, re'ected a balanced market.
THIS MONTH No. $1,528,953 $1,449,000 19% 445 2,352
PREVIOUS MONTH
PREVIOUS YEAR
No.
% Change
No.
% Change
TOTAL LISTINGS TOTAL SALES SALES-LISTINGS RATIO MEDIAN SOLD PRICE AVERAGE SOLD PRICE
$1,433,896 $1,315,500 17% 322 1,847
7% 10% 9% 38% 27%
$1,528,373 $1,400,000 16% 345 2,091
15% 29% 12%
The detached median price in February was $1,449,000, a 4% increase from January and 10% above February 2023.
The average sold price was $1,528,953, 0.0% above last month and up 7% to February 2023.
0% 4%
▶ RATIO OF MEDIAN PRICES
▶ RECENT TRENDS
● DETACHED-TO-TOWNHOME ● TOWNHOME-TO-CONDO
● SALES ● TOTAL INVENTORY ● MEDIAN PRICE
2,944
2,921
3,2163,218
2,793
3,022
2,532
1.71
1.70
1.66
2,352
1.60
1.59
1,938
2,338
1.54
2,091
1,847
1,998
772
590
447
370
298
657
445
590
322
448
375
319
345
$1.43M $1.50M $1.50M $1.46M $1.43M $1.46M
$1.40M $1.35M $1.29M
$1.40M $1.45M
$1.32M $1.35M
23-Feb
24-Jan
24-Feb
▶ TOTAL LISTINGS & SALES BY PRICE RANGE
SELLERS' MARKET 21% +
BALANCED 12 - 20%
BUYERS' MARKET <12%
● SALES ● TOTAL INVENTORY ● S-L RATIO
700
600
500
67%
400
45%
300
31%
29%
27%
200
18%
13%
100
7%
3%
0
<$600K
$600-799K
$800-999K
$1.0M-1.24M $1.25M-1.49M $1.5M-1.99M
$2.0M-2.49M
$2.5M-2.99M
$3M+
S-L RATIO SALES INVENTORY
63 17 27%
18 12 67%
89 28 31%
165 74 45%
409 120 29%
706 128 18%
301 39 13%
212 14 7%
389 13 3%
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 March 7, 2024. All data from Real Estate Board of 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. 11 ●
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