the rennie review - January 2023

fraservaley board area CONDO -DECEMBER 202

SALESTO LISTINGSRATIO 22% SELLERS'M ARKET

▶ MARKETSUMMARY

AVERAGEPRICE

AVERAGE PSFPRICE ▼ 10% VS2021

MEDIAN PRICE

TOTALLISTINGS

SALES

▼ 10% VS2021

▼ 8% VS2021

▲ 161% VS2021

▼ 60% VS2021

Therewere975 condolistingsin theFraserValeyboard areain D ecem ber,21% below N ovem berand 161% higherthan D ecem ber2021. D ecem bercondo salesdecreased by 20% m onth-over-m onth,to218,and were60% below D ecem ber2021. Thesales-to-listing ratio forcondosin theFraserValey board area,at22% ,reflected aselers'm arket. Thecondom edian pricein D ecem berwas$485,000,a 1.0% decreasefrom N ovem berand 8% below D ecem ber 2021. Theaveragesold pricewas$496,496,3% below last m onth;theaveragePSF salepricewas$591,down 2.0% to lastm onth.

THISMONTH No.

PREVIOUSYEAR

PREVIOUSMONTH

No. 543 373

%Change

No.

%Change

TOTALLISTINGS TOTALSALES

22% 218 975

-10% -10% -8% -85% -60% 161%

22% 273 1,237

1.3% -20% -21%

SALES-LISTINGSRATIO MEDIAN SOLD PRICE AVERAGESOLD PRICE AVERAGEPRICEPSF

$659 $550,288 $529,000 146%

$591 $496,496 $485,000

$603 $511,514 $490,000

-2% -3% -1%

▶ AVG PRICEPERSQUAREFOOT

▶ RECENTTRENDS

● DEC 2021 ● DEC 202

● SALES ● TOTALINVENTORY ● MEDIAN PRICE

1,237

1,234

1,318

1,306 1,303

1,294

1,236

851

997

975

766

801

543

407

550

518

373

451

273

415

420

356

305

218

280

277

$570K $566K $548K $540K $535K

$564K $574K

$529K

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

FVREB

REBGV

▶ NUMBEROFBEDROOMS

▶ TOTALLISTINGS&SALESBYPRICERANGE

SEL ERS'MARKET 21%+

BALANCED 12-20%

BUYERS'MARKET <12%

● SALES ● TOTALINVENTORY

● SALES ● TOTALINVENTORY ● S-LRATIO

500

4+bdrms

2

400

10

300

3bdrms

59

200

35%

131

25%

2bdrms

17%

100

596

13% 15%

0

77

<$400K $400-599K $600-799K $800-999K $1.0M -1.24M $1.25M -1.49M $1.5M -1.99M $2M +

<2bdrms

S-LRATIO SALES INVENTORY

132 46 35%

516 131 25%

261 35 13%

33 5 15%

15 0 n/a

6 1 17%

4 0 n/a

8 0 n/a

318

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