surrey TOWNHOME - FEBRUARY 2 0 2 4
SALES TO LISTINGS RATIO 31% SELLERS' MARKET
▶ MARKET SUMMARY
AVERAGE PRICE
AVERAGE PSF PRICE ▲ 8% VS 2023
MEDIAN PRICE
TOTAL LISTINGS
SALES
▲ 13% VS 2023
▲ 12% VS 2023
▲ 21% VS 2023
▲ 16% VS 2023
There were 519 townhome listings in Surrey in February, 16% above January and 21% higher than February 2023. February townhome sales increased by 26% month-over-month, to 163, and were 16% above February 2023. The sales-to-listing ratio for townhomes in Surrey, at 31%, re&ected a sellers' market. The townhome median price in February was $889,900, a 4% increase from January and 12% above February 2023. The average sold price was $924,000, 6% above last month; the average PSF sale price was $561, up 3% to last month.
THIS MONTH No.
PREVIOUS MONTH
PREVIOUS YEAR
No. 140 428
% Change
No. 129 449
% Change
TOTAL LISTINGS TOTAL SALES SALES-LISTINGS RATIO MEDIAN SOLD PRICE AVERAGE SOLD PRICE AVERAGE PRICE PSF
163 519
8% 13% 12% -4% 16% 21%
26% 16%
$561 $924,000 $889,900 31%
$519 $819,042 $791,750 33%
$545 $871,863 $856,900 29%
3% 6% 4% 9%
▶ AVG PRICE PER SQUARE FOOT
▶ RECENT TRENDS
● FEB 2023 ● FEB 2024
● SALES ● TOTAL INVENTORY ● MEDIAN PRICE
571
540
604
583
506
560
519
511
428
449
425
415
404
281
222
248
171
218
217
163
124
189
140
129
115
114
$890K
$883K
$865K
$870K
$863K
$857K
$845K
$850K
$830K
$833K
$840K
$840K
$792K
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
250
53
4+ bdrms
167
200
81
150
3 bdrms
246
100
36%
33%
29% 29% 29%
28%
29
2 bdrms
103
50
0
<2 bdrms
<$400K $400-599K $600-799K $800-999K $1.0M-1.24M $1.25M-1.49M $1.5M-1.99M $2M+
3
S-L RATIO SALES INVENTORY
13 0 n/a
15 5 33%
117 33 28%
241 86 36%
95 28 29%
31 9 29%
7 2 29%
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. 45 ●
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