fraser valley board area DETACHED - MAY 2 0 2 4
SALES TO LISTINGS RATIO 16% BALANCED MARKET
▶ MARKET SUMMARY
AVERAGE PRICE
MEDIAN PRICE
TOTAL INVENTORY
SALES
▲ 41% VS 2023
▼ 4% VS 2023
▼ 2% VS 2023
▼ 10% VS 2023
There were 3,462 detached listings in the Fraser Valley board area in May, 9% above April and 41% higher than May 2023. May detached home sales increased by 14% month-over-month, to 565, and were 10% below May 2023. The sales-to-listing ratio for detached in the Fraser Valley board area, at 16%, re'ected a balanced market.
THIS MONTH No. $1,647,257 $1,495,000 16% 565 3,462
PREVIOUS MONTH
PREVIOUS YEAR
No.
% Change
No.
% Change
TOTAL INVENTORY TOTAL SALES SALES-LISTINGS RATIO MEDIAN SOLD PRICE AVERAGE SOLD PRICE
$1,716,811 $1,528,000 26% 628 2,454
-36% -10% 41%
$1,638,926 $1,495,000 16% 497 3,178
0.5% 0% 4% 14% 9%
The detached median price in May was $1,495,000, a 0% change from April and 2% below May 2023.
The average sold price was $1,647,257, 0.5% above last month and down 4% to May 2023.
-4% -2%
▶ RATIO OF MEDIAN PRICES
▶ RECENT TRENDS
● DETACHED-TO-TOWNHOME ● TOWNHOME-TO-CONDO
● SALES ● TOTAL INVENTORY ● MEDIAN PRICE
3,462
3,178
3,146
3,135
2,861
2,852
2,724
2,945
1.80
1.76
1.75
2,454
2,642
1.59
2,296
1.55
1.56
2,276
2,029
740
430
628
413
344
565
329
305
283
497
450
431
358
$1.53M
$1.52M $1.48M $1.48M $1.48M $1.42M
$1.45M $1.45M $1.49M $1.50M $1.50M
$1.38M $1.30M
23-May
24-Apr
24-May
▶ TOTAL LISTINGS & SALES BY PRICE RANGE
SELLERS' MARKET 21% +
BALANCED 12 - 20%
BUYERS' MARKET <12%
● SALES ● TOTAL INVENTORY ● S-L RATIO
1,000
800
600
400
28%
25%
23%
18%
12%
200
6%
6%
3%
2%
1%
0
<$1M
$1.0M-1.24M $1.25M-1.49M $1.5M-1.99M $2.0M-2.49M $2.5M-2.99M $3.0M-3.99M $4.0M-4.99M $5.0M-5.99M
$6.0M+
S-L RATIO SALES INVENTORY
162 37 23%
303 86 28%
650 162 25%
1,067 189 18%
439 51 12%
306 19 6%
252 16 6%
95 1 1%
68 2 3%
120 2 2%
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 June 10, 2024. All data from Greater Vancouver REALTORS®, Fraser Valley Real Estate Board, Whistler Listing System, and 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. 11 ●
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