fraser valley board area CONDO - APRIL 2 0 2 4
SALES TO LISTINGS RATIO 26% SELLERS' MARKET
▶ MARKET SUMMARY
AVERAGE PRICE
AVERAGE PSF PRICE ▲ 5% VS 2023
MEDIAN PRICE
TOTAL INVENTORY
SALES
▲ 7% VS 2023
▲ 8% VS 2023
▲ 63% VS 2023
▼ 7% VS 2023
There were 1,727 condo listings in the Fraser Valley board area in April, 21% above March and 63% higher than April 2023. April condo sales increased by 12% month-over-month, to 455, and were 7% below April 2023.
THIS MONTH No.
PREVIOUS MONTH
PREVIOUS YEAR
No.
% Change
No.
% Change
The sales-to-listing ratio for condos in the Fraser Valley board area, at 26%, reflected a sellers' market.
TOTAL INVENTORY TOTAL SALES SALES-LISTINGS RATIO MEDIAN SOLD PRICE AVERAGE SOLD PRICE AVERAGE PRICE PSF
$669 $580,159 $549,900 26% 455 1,727
$636 $544,285 $510,000 46% 487 1,060
5% 7% 8% -43% -7% 63%
$682 $579,950 $549,850 29% 408 1,424
12% 21%
The condo median price in April was $549,900, a 0.0% increase from March and 8% above April 2023. The average sold price was $580,159, 0.0% above last month; the average PSF sale price was $669, down 1.9% to last month.
-1.9% 0% 0% -8%
▶ AVG PRICE PER SQUARE FOOT
▶ RECENT TRENDS
● APR 2023 ● APR 2024
● SALES ● TOTAL INVENTORY ● MEDIAN PRICE
1,727
1,466
1,455
1,410
1,271
1,424
1,187
1,339
1,302
1,285
1,179
1,060
1,165
567
416
414
487
455
319
517
458
408
343
308
289
278
$550K
$550K
$535K
$538K
$540K
$527K
$530K
$531K
$525K
$525K
$525K
$514K
$510K
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
500
4+ bdrms
400
1
300
23
3 bdrms
94
43%
200
32% 32%
29%
22%
279
21%
18%
2 bdrms
15%
100
1,040
0
153
<$400K $400K-499K $500K-599K $600K-699K $700K-799K $800K-899K $900K-999K $1.0M+
<2 bdrms
S-L RATIO SALES INVENTORY
147 42 29%
368 117 32%
458 147 32%
419 87 21%
183 27 15%
69 15 22%
21 9 43%
62 11 18%
592
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 May 8, 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. 13 ●
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