the rennie review - June 2023

fraservaley board area CONDO -MAY 2023

SALES TO LISTINGSRATIO 43% SELLERS'M ARKET

▶ MARKETSUMMARY Therewere1,189 condolistingsin theFraserValey board areain M ay,12% aboveApriland 4% lowerthan May 2022. M aycondosalesincreased by6% m onth-over-m onth,to 517,and were15% aboveM ay2022.

AVERAGEPRICE

AVERAGE PSF PRICE ▼ 2% VS 2022

MEDIAN PRICE

TOTALLISTINGS

SALES

▼ 1.0% VS 2022

▼ 2% VS 2022

▼ 4% VS 2022

▲ 15% VS 2022

THISMONTH No.

PREVIOUSMONTH

PREVIOUSYEAR

No.

% Change

No.

% Change

Thesales-to-listing ratio forcondosin the FraserValey board area,at43% ,reflected aselers'm arket.

TOTALLISTINGS TOTALSALES

43% 517 1,189

37% 451 1,234

-2% -1% -2% 19% 15% -4%

46% 487 1,062

3% 2% 5% -5% 6% 12%

Thecondom edian pricein M aywas$535,000,a5% increasefrom Apriland 2% below M ay2022. Theaveragesold pricewas$557,029,2% abovelast m onth;theaveragePSF salepricewas$654,up 3% to lastm onth.

SALES-LISTINGSRATIO MEDIAN SOLD PRICE AVERAGESOLD PRICE AVERAGEPRICEPSF

$654 $557,029 $535,000

$636 $544,285 $510,000

$670 $562,917 $548,000

▶ AVG PRICEPERSQUAREFOOT

▶ RECENTTRENDS

● MAY 202 ● MAY 2023

● SALES ● TOTALINVENTORY ● MEDIAN PRICE

1,237

1,318

1,234

1,306

1,303

1,294

1,189

1,236

1,073

1,060

1,062

1,017

975

491

517

406

451

487

273

356

305

285

279

277

217

198

$548K $540K $535K

$515K $500K $505K $490K $485K $497K

$499K $510K $510K $535K

FVREB

REBGV

▶ NUMBEROFBEDROOMS

▶ TOTALLISTINGS&SALESBYPRICERANGE

SEL ERS'MARKET 21% +

BALANCED 12 - 20%

BUYERS'MARKET <12%

● SALES ● TOTALINVENTORY

● SALES ● TOTALINVENTORY ● S-L RATIO

600

3 1

4+ bdrms

500

400

33

3 bdrms

62

300

49% 48%

42%

37%

200

29% 30%

322

2 bdrms

18%

708

100

0

161

<$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

129 63 49%

618 296 48%

328 122 37%

65 27 42%

22 4 18%

7 2 29%

10 3 30%

10 0 n/a

416

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