surrey CONDO - NOVEMBER 2 0 2 4
SALES TO LISTINGS RATIO 14% BALANCED MARKET
▶ MARKET SUMMARY
AVERAGE PRICE
AVERAGE PSF PRICE ▼ 0.2% VS 2023
MEDIAN PRICE
TOTAL INVENTORY
SALES
▲ 52% VS 2023
▲ 16% VS 2023
▼ 5% VS 2023
▼ 4% VS 2023
There were 1,204 condo listings in Surrey in November, 3% below October and 52% higher than November 2023. November condo sales decreased by 13% month-over-month, to 171, and were 16% above November 2023. The sales-to-listing ratio for condos in Surrey, at 14%, reflected a balanced market. The condo median price in November was $519,000, a 6% decrease from October and 4% below November 2023. The average sold price was $525,741, 5% below last month; the average PSF sale price was $722, down 1.2% to last month.
THIS MONTH No.
PREVIOUS MONTH
PREVIOUS YEAR
No. 148 792
% Change
No.
% Change
TOTAL INVENTORY TOTAL SALES SALES-LISTINGS RATIO MEDIAN SOLD PRICE AVERAGE SOLD PRICE AVERAGE PRICE PSF
$722 $525,741 $519,000 14% 171 1,204
16% 52%
$731 $555,651 $549,900 16% 197 1,243
-1.2% -5% -6% -10% -13% -3%
$723 $555,448 $541,500 19%
-0.2% -5% -4% -24%
▶ AVG PRICE PER SQUARE FOOT
▶ RECENT TRENDS
● NOV 2023 ● NOV 2024
● SALES ● TOTAL INVENTORY ● MEDIAN PRICE
1,141
1,204
1,243 1,243
1,077
1,164
925
996
792
738
670
632
605
225
213
195
197
193
171
148
190
169
162
138
143
125
$574K
$554K
$550K
$550K
$550K
$543K
$542K
$540K
$538K
$535K
$525K
$525K
$519K
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
350
300
4+ bdrms
1
250
3
200
3 bdrms
57
150
34%
100
88
2 bdrms
14% 15% 14%
617
9%
8%
50
3%
0
80
<$400K $400K-499K $500K-599K $600K-699K $700K-799K $800K-899K $900K-999K $1.0M+
<2 bdrms
S-L RATIO SALES INVENTORY
73 25 34%
338 48 14%
338 52 15%
267 38 14%
129 4 3%
35 3 9%
11 0 n/a
13 1 8%
529
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 December 9, 2024. All data from Greater Vancouver REALTORS®, Fraser Valley Real Estate Board, Whistler Listing System, and 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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