fraser valley board area TOWNHOME - FEBRUARY 2 0 2 4
SALES TO LISTINGS RATIO 34% SELLERS' MARKET
▶ MARKET SUMMARY
AVERAGE PRICE
AVERAGE PSF PRICE ▲ 8% VS 2023
MEDIAN PRICE
TOTAL LISTINGS
SALES
▲ 14% VS 2023
▲ 10% VS 2023
▲ 20% VS 2023
▲ 14% VS 2023
There were 820 townhome listings in the Fraser Valley board area in February, 15% above January and 20% higher than February 2023. February townhome sales increased by 19% month-over-month, to 277, and were 14% above February 2023. The sales-to-listing ratio for townhomes in the Fraser Valley board area, at 34%, re'ected a sellers' market. The townhome median price in February was $850,000, a 1.0% increase from January and 10% above February 2023. The average sold price was $882,124, 5% above last month; the average PSF sale price was $545, up 3% to last month.
THIS MONTH No.
PREVIOUS MONTH
PREVIOUS YEAR
No. 242 684
% Change
No. 232 711
% Change
TOTAL LISTINGS TOTAL SALES SALES-LISTINGS RATIO MEDIAN SOLD PRICE AVERAGE SOLD PRICE AVERAGE PRICE PSF
277 820
8% 14% 10% -5% 14% 20%
19% 15%
$545 $882,124 $850,000 34%
$504 $775,908 $770,000 35%
$530 $838,144 $841,500 33%
3% 5% 1% 4%
▶ AVG PRICE PER SQUARE FOOT
▶ RECENT TRENDS
● FEB 2023 ● FEB 2024
● SALES ● TOTAL INVENTORY ● MEDIAN PRICE
881
852
930
797
911
820
859
810
684
711
679
680
661
477
445
389
278
388
376
277
214
318
242
232
220
185
$850K
$851K
$849K
$850K
$839K
$842K
$832K
$830K
$825K
$824K
$823K
$808K
$770K
FVREB
REBGV
▶ 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
350
76
4+ bdrms
300
255
250
146
200
3 bdrms
389
40%
150
31% 32%
31%
54
25%
25%
100
2 bdrms
169
13%
50
0
1
<2 bdrms
<$400K $400-599K $600-799K $800-999K $1.0M-1.24M $1.25M-1.49M $1.5M-1.99M $2M+
7
S-L RATIO SALES INVENTORY
16 2 13%
35 11 31%
224 72 32%
347 140 40%
147 37 25%
42 13 31%
8 2 25%
1 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 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. 12 ●
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