the rennie review - June 2019

surrey

DETACHED - MAY 2019

AVERAGE PRICE

AVERAGE PSF PRICE

BENCHMARK PRICE 6 % DOWN

TOTAL LISTINGS

SALES

SALES TO LISTING RATIO

MARKET SUMMARY ›

5 % UP

0.7 % DOWN

19 % DOWN

-

BALANCED 14 %

The 1,983 detached listings in Surrey in May were up 5% month-over-month and year-over-year. May’s detached sales (285 homes) were up by 18% vs April but 19% below May 2018. The sales-to-listings ratio slightly increased in May, to 14%, as Surrey’s detached market remained in balanced market conditions. At $1.06M, the benchmark price for detached homes was virtually unchanged from April and 6% below May 2018. The average sold price of $1.10M was 0.7% lower month-over-month and year-over-year.

VS 2018

VS 2018

VS 2018

VS 2018

VS 2018

PREVIOUS MONTH

PREVIOUS YEAR

THIS MONTH No.

No.

% Change

No.

% Change

TOTAL LISTINGS

1,983

1,884

5%

1,894

5%

TOTAL SALES

285 14%

242 13%

18% 12%

351 19%

-19% -22%

SALES-LISTINGS RATIO BENCHMARK PRICE AVERAGE SOLD PRICE AVERAGE PRICE PSF

$1,061,400 $1,062,600 -0.1% $1,126,700 $1,101,026 $1,109,312 -0.7% $1,108,431 -0.7% -6%

-

-

-

-

-

RATIO OF BENCHMARK PRICES ›

HISTORICAL TREND

SALES TOTAL INVENTORY BENCHMARK PRICE

(MILLIONS)

$1.13

$1.12

$1.09

$1.08

$1.07

$1.06

$1.06

2.44

2.42

2.38

2,053

2,041

1,983

1,894

1,886

1.87

1.87

1.86

1,666

1,521

351

285

262

233

201

188

121

May-18

Apr-19

May-19

TOTAL LISTINGS & SALES BY PRICE RANGE ›

SALES TOTAL INVENTORY S-L RATIO

          . . . 0 0 0 0 0                         S-L RATIO SALES INVENTORY SELLER'S MARKET BALANCED BUYER'S MARKET          

CurrentasofJune4,2019.Alldata from theRealEstateBoardofGreaterVancouverandFraserValley.The informationsetoutherein (the“Information”) is intended for informationalpurposesonly.RAR&RMShasnotverifiedthe informationanddoesnot represent,warrantorguarantee theaccuracy,correctnessandcompletenessof the information.RAR&RMSdoesnotassumeany responsibilityor liabilityofanykind inconnectionwith the informationand the recipient’s relianceupon the information.The recipientof the information should take stepsas the recipient may deem necessary to verify the information prior to placing any reliance upon the information. The information may change and any property described in the information may be withdrawn from the market at any time without notice or obligation to the recipient from RAR & RMS.

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