surrey DETACHED - FEBRUARY 2 0 2 4
SALES TO LISTINGS RATIO 17% BALANCED MARKET
▶ MARKET SUMMARY
AVERAGE PRICE
MEDIAN PRICE
TOTAL LISTINGS
SALES
▲ 6% VS 2023
▲ 6% VS 2023
▲ 32% VS 2023
▲ 34% VS 2023
There were 1,135 detached listings in Surrey in February, 14% above January and 32% higher than February 2023. February detached home sales increased by 39% month-over-month, to 194, and were 34% above February 2023. The sales-to-listing ratio for detached in Surrey, at 17%, re&ected a balanced market.
THIS MONTH No. $1,656,691 $1,568,000 17% 194 1,135
PREVIOUS MONTH
PREVIOUS YEAR
No. 145 863
% Change
No.
% Change
TOTAL LISTINGS TOTAL SALES SALES-LISTINGS RATIO MEDIAN SOLD PRICE AVERAGE SOLD PRICE
6% 6% 1.7% 34% 32%
$1,600,063 $1,494,889 14% 140 1,000
22% 39% 14%
The detached median price in February was $1,568,000, a 5% increase from January and 6% above February 2023.
$1,568,486 $1,480,000 17%
The average sold price was $1,656,691, 4% above last month and up 6% to February 2023.
4% 5%
▶ RATIO OF MEDIAN PRICES
▶ RECENT TRENDS
● DETACHED-TO-TOWNHOME ● TOWNHOME-TO-CONDO
● SALES ● TOTAL INVENTORY ● MEDIAN PRICE
1,382
1,375
1,517
1,294
1,484
1,420
1,155
1.87
1,135
1.76
1.74
1,118
1.70
1,000
863
963
1.58
1.58
895
312
300
261
191
157
134
140
129
194
266
145
182
174
$1.65M $1.58M $1.59M $1.57M
$1.52M $1.63M
$1.49M $1.57M
$1.48M $1.47M
$1.47M $1.50M $1.42M
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
400
300
200
50%
50%
35%
33%
100
18%
14%
12%
4%
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
21 7 33%
2 1 50%
14 2 14%
24 12 50%
181 64 35%
401 74 18%
198 23 12%
107 3 3%
187 8 4%
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. 44 ●
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