surrey CONDO - FEBRUARY 2 0 2 4
SALES TO LISTINGS RATIO 29% SELLERS' MARKET
▶ MARKET SUMMARY
AVERAGE PRICE
AVERAGE PSF PRICE ▲ 12% VS 2023
MEDIAN PRICE
TOTAL LISTINGS
SALES
▲ 4% VS 2023
▲ 5% VS 2023
▲ 34% VS 2023
▲ 29% VS 2023
There were 667 condo listings in Surrey in February, 10% above January and 34% higher than February 2023. February condo sales increased by 18% month-over-month, to 191, and were 29% above February 2023. The sales-to-listing ratio for condos in Surrey, at 29%, re&ected a sellers' market. The condo median price in February was $525,000, a 3% decrease from January and 5% above February 2023. The average sold price was $540,080, 0.2% above last month; the average PSF sale price was $738, up 3% to last month.
THIS MONTH No.
PREVIOUS MONTH
PREVIOUS YEAR
No. 148 497
% Change
No. 162 605
% Change
TOTAL LISTINGS TOTAL SALES SALES-LISTINGS RATIO MEDIAN SOLD PRICE AVERAGE SOLD PRICE AVERAGE PRICE PSF
191 667
12% 4% 5% -4% 29% 34%
3% 0.2% -3% 7% 18% 10%
$738 $540,080 $525,000 29%
$661 $519,610 $499,900 30%
$714 $538,863 $542,500 27%
▶ AVG PRICE PER SQUARE FOOT
▶ RECENT TRENDS
● FEB 2023 ● FEB 2024
● SALES ● TOTAL INVENTORY ● MEDIAN PRICE
746
810
792
669
667
604
667
654
632
605
497
496
485
260
237
222
205
150
148
191
236
223
148
162
148
138
$558K
$555K
$545K
$542K
$543K
$537K
$541K
$535K
$532K
$534K
$525K
$525K
$500K
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
4+ bdrms
300
4
3 bdrms
200
41
43%
33%
102
100
23%
2 bdrms
349
3%
0
84
<$400K $400-599K $600-799K $800-999K $1.0M-1.24M $1.25M-1.49M $1.5M-1.99M $2M+
<2 bdrms
S-L RATIO SALES INVENTORY
37 16 43%
364 120 33%
235 53 23%
30 1 3%
1 0 n/a
0 1 n/a
277
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. 46 ●
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