fraser valley board area TOWNHOME - MAY 2 0 2 4
SALES TO LISTINGS RATIO 30% SELLERS' MARKET
▶ MARKET SUMMARY
AVERAGE PRICE
AVERAGE PSF PRICE ▲ 1.8% VS 2023
MEDIAN PRICE
TOTAL INVENTORY
SALES
▲ 1.5% VS 2023
▲ 56% VS 2023
▼ 17% VS 2023
- VS 2023
There were 1,243 townhome listings in the Fraser Valley board area in May, 16% above April and 56% higher than May 2023. May townhome sales decreased by 9% month-over-month, to 369, and were 17% below May 2023.
THIS MONTH No.
PREVIOUS MONTH
PREVIOUS YEAR
No. 445 797
% Change
No.
% Change
The sales-to-listing ratio for townhomes in the Fraser Valley board area, at 30%, re'ected a sellers' market.
TOTAL INVENTORY TOTAL SALES SALES-LISTINGS RATIO MEDIAN SOLD PRICE AVERAGE SOLD PRICE AVERAGE PRICE PSF
$547 $865,433 $850,000 30% 369 1,243
1.8% 1.5% 0% -47% -17% 56%
$545 $870,270 $855,000 38% 404 1,068
0.3% -0.6% -0.6% -22% -9% 16%
The townhome median price in May was $850,000, a 0.6% decrease from April and no change to May 2023. The average sold price was $865,433, 0.6% below last month; the average PSF sale price was $547, up 0.3% to last month.
$537 $852,883 $850,000 56%
▶ AVG PRICE PER SQUARE FOOT
▶ RECENT TRENDS
● MAY 2023 ● MAY 2024
● SALES ● TOTAL INVENTORY ● MEDIAN PRICE
1,243
1,068
930
911
881
852
823
879
797
859
810
711
680
477
404
384
445
369
278
376
214
318
281
232
220
185
$866K
$851K
$855K
$850K
$849K
$842K
$850K
$850K
$832K
$830K
$825K
$824K
$823K
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
90
500
4+ bdrms
342
400
189
3 bdrms
300
624
33% 31%
200
26%
26% 29%
89
23%
2 bdrms
271
100
0
6 1
<2 bdrms
<$600K $600K-799K $800K-999K $1.0M-1.24M $1.25M-1.49M $1.5M-1.99M $2.0M-2.49M $2.5M+
S-L RATIO SALES INVENTORY
68 18 26%
346 113 33%
557 174 31%
205 47 23%
58 15 26%
7 2 29%
1 0 n/a
1 0 n/a
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. 12 ●
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