fraser valley board area CONDO - DECEMBER 2 0 2 3
SALES TO LISTINGS RATIO 24% SELLERS' MARKET
▶ MARKET SUMMARY
AVERAGE PRICE
AVERAGE PSF PRICE ▲ 14% VS 2022
MEDIAN PRICE
TOTAL LISTINGS
SALES
▲ 9% VS 2022
▲ 8% VS 2022
▲ 20% VS 2022
▲ 28% VS 2022
There were 1,165 condo listings in the Fraser Valley board area in December, 20% below November and 20% higher than December 2022. December condo sales decreased by 4% month-over-month, to 278, and were 28% above December 2022. The sales-to-listing ratio for condos in the Fraser Valley board area, at 24%, reflected a sellers' market. The condo median price in December was $525,000, a 0% change from November and 8% above December 2022. The average sold price was $543,023, 3% below last month; the average PSF sale price was $670, down 1.1% to last month.
THIS MONTH No.
PREVIOUS MONTH
PREVIOUS YEAR
No. 217 973
% Change
No.
% Change
TOTAL LISTINGS TOTAL SALES SALES-LISTINGS RATIO MEDIAN SOLD PRICE AVERAGE SOLD PRICE AVERAGE PRICE PSF
$670 $543,023 $525,000 24% 278 1,165
14% 9% 8% 7% 28% 20%
$677 $561,989 $525,000 20% 289 1,455
-1.1% -3% 0% 20% -4% -20%
$589 $496,019 $485,000 22%
▶ AVG PRICE PER SQUARE FOOT
▶ RECENT TRENDS
● DEC 2022 ● DEC 2023
● SALES ● TOTAL INVENTORY ● MEDIAN PRICE
1,466
1,271
1,455
1,410
1,187
1,339
1,285
1,070
1,165
973
1,060
1,057
1,015
567
491
414
517
319
487
459
278
343
217
289
285
198
$538K
$540K
$535K
$527K
$525K
$525K
$525K
$514K
$510K
$510K
$497K
$499K
$485K
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
600
3 1
500
4+ bdrms
400
16
3 bdrms
300
74
200
32% 31%
173
2 bdrms
16% 14%
100
690
13%
5%
0
88
<$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
98 31 32%
558 171 31%
398 65 16%
59 8 14%
21 1 5%
15 2 13%
7 0 n/a
9 0 n/a
398
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 January 10, 2024. All data from Real Estate Board of Greater Vancouver and Fraser Valley & 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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