surrey CONDO - DECEMBER 2 0 2 3
SALES TO LISTINGS RATIO 22% SELLERS' MARKET
▶ MARKET SUMMARY
AVERAGE PRICE
AVERAGE PSF PRICE ▲ 13% VS 2022
MEDIAN PRICE
TOTAL LISTINGS
SALES
▲ 11% VS 2022
▲ 11% VS 2022
▲ 37% VS 2022
▲ 33% VS 2022
There were 632 condo listings in Surrey in December, 20% below November and 37% higher than December 2022. December condo sales decreased by 7% month-over-month, to 138, and were 33% above December 2022. The sales-to-listing ratio for condos in Surrey, at 22%, reflected a sellers' market. The condo median price in December was $534,900, a 1.2% decrease from November and 11% above December 2022. The average sold price was $546,422, 1.6% below last month; the average PSF sale price was $718, down 0.6% to last month.
THIS MONTH No.
PREVIOUS MONTH
PREVIOUS YEAR
No. 104 463
% Change
No. 148 792
% Change
TOTAL LISTINGS TOTAL SALES SALES-LISTINGS RATIO MEDIAN SOLD PRICE AVERAGE SOLD PRICE AVERAGE PRICE PSF
138 632
13% 11% 11% -3% 33% 37%
-0.6% -1.6% -1.2% 17% -7% -20%
$718 $546,422 $534,900 22%
$638 $493,742 $480,000 22%
$723 $555,448 $541,500 19%
▶ AVG PRICE PER SQUARE FOOT
▶ RECENT TRENDS
● DEC 2022 ● DEC 2023
● SALES ● TOTAL INVENTORY ● MEDIAN PRICE
746
810
792
669
604
667
654
632
497
463
496
485
465
260
237
222
205
150
148
236
223
138
104
148
148
87
$558K
$555K
$545K
$542K
$537K
$541K
$535K
$532K
$534K
$525K
$508K
$500K
$480K
SURREY
FVREB
▶ 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
350
300
4+ bdrms
1
250
10
200
3 bdrms
41
150
100
27%
76
2 bdrms
17%
16% 13%
343
50
0
52
<$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
41 7 17%
332 91 27%
231 37 16%
23 3 13%
2 0 n/a
1 0 n/a
1 0 n/a
1 0 n/a
247
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. 46 ●
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