the rennie review - January 2023

fraservaley board area DETACHED -DECEMBER 202

SALESTO LISTINGSRATIO 14% BALANCEDMARKET

▶ MARKETSUMMARY Therew ere1,858 detached listingsin theFraserValey board areain D ecem ber,21% below N ovem berand 103% higherthan D ecem ber2021. D ecem berdetached hom esalesdecreased by 17% m onth-over-m onth,to261,and were63% below D ecem ber2021. Thesales-to-listing ratio fordetached in the FraserValey board area,at14% ,reflected abalanced m arket. Thedetachedm edian pricein D ecem berwas$1,280,000, a4% increasefrom N ovem berand 19% below D ecem ber 2021. Theaveragesold pricewas$1,386,797,4% abovelast m onth and down 20% toD ecem ber2021.

AVERAGEPRICE

MEDIAN PRICE

TOTALLISTINGS

SALES

▼ 20% VS2021

▼ 19% VS2021

▲ 103% VS2021

▼ 63% VS2021

THISMONTH No.

PREVIOUSYEAR

PREVIOUSMONTH

No. 76% 696 917

%Change -20% -19% -81% -63% 103%

%Change

No.

TOTALLISTINGS TOTALSALES

14% 261 1,858

-17% -21%

13% 313 2,344

SALES-LISTINGSRATIO MEDIAN SOLD PRICE AVERAGESOLD PRICE

4% 4% 5%

$1,328,294 $1,235,000

$1,386,797 $1,280,000

$1,740,355 $1,581,500

▶ RATIO OFMEDIAN PRICES

▶ RECENTTRENDS

● DETACHED-TO-TOWNHOME ● TOWNHOME-TO-CONDO

● SALES ● TOTALINVENTORY ● MEDIAN PRICE

2,964

3,131

2,699

3,041

2,541

2,810

1.82

2,344

2,233

2,588

1.72

1.64

1.63

1.55

1,793

1.54

1,858

1,014

917

1,061

428

741

364

696

327

313

606

523

485

261

343

325

$1.75M $1.78M $1.70M

$1.61M $1.53M $1.48M

$1.58M

$1.42M $1.34M $1.32M $1.32M

$1.24M $1.28M

Dec-21

Nov-22

Dec-22

▶ TOTALLISTINGS&SALESBYPRICERANGE

SEL ERS'MARKET 21%+

BALANCED 12-20%

BUYERS'MARKET <12%

● SALES ● TOTALINVENTORY ● S-LRATIO

400

300

200

39%

39%

33%

32%

100

19%

10%

8%

4%

3%

0

<$600K

$600-799K

$800-999K

$1.0M -1.24M $1.25M -1.49M $1.5M -1.99M

$2.0M -2.49M

$2.5M -2.99M

$3M+

S-LRATIO SALES INVENTORY

64 25 39%

31 12 39%

95 31 33%

174 56 32%

311 58 19%

448 44 10%

226 17 8%

195 5 3%

314 13 4%

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