north delta CONDO - MAY 2 0 2 4
SALES TO LISTINGS RATIO 34% SELLERS' MARKET
▶ MARKET SUMMARY
AVERAGE PRICE
AVERAGE PSF PRICE ▼ 1.1% VS 2023
MEDIAN PRICE
TOTAL INVENTORY
SALES
▲ 3% VS 2023
▲ 60% VS 2023
▲ 38% VS 2023
▼ 5% VS 2023
There were 32 condo listings in North Delta in May, 6% below April and 60% higher than May 2023.
May condo sales increased by 175% month-over-month, to 11, and were 38% above May 2023.
THIS MONTH No.
PREVIOUS MONTH
PREVIOUS YEAR
No.
% Change
No.
% Change
The sales-to-listing ratio for condos in North Delta, at 34%, re&ected a sellers' market.
TOTAL INVENTORY TOTAL SALES SALES-LISTINGS RATIO MEDIAN SOLD PRICE AVERAGE SOLD PRICE AVERAGE PRICE PSF
11 32
$706 $571,500 $565,500 40% 8 20
38% 60%
$664 $648,750 $653,000 12% 4 34
5% -16% -11% 192% 175% -6%
The condo median price in May was $580,000, a 11% decrease from April and 3% above May 2023. The average sold price was $544,864, 16% below last month; the average PSF sale price was $698, up 5% to last month.
$698 $544,864 $580,000 34%
-1.1% -5% 3% -14%
▶ AVG PRICE PER SQUARE FOOT
▶ RECENT TRENDS
● MAY 2023 ● MAY 2024
● SALES ● TOTAL INVENTORY ● MEDIAN PRICE
38
36
40
39
32
34
29
34
25
30
27
20
19
13
11
10
10
10
8
7
7
7
6
5
5
4
$653K
$635K
$625K
$615K
$580K
$566K
$540K
$535K
$525K
$520K
$520K
$519K
$510K
NORTH DELTA
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
100%
10
4+ bdrms
8
6
56%
3 bdrms
1
43%
4
7
20%
2 bdrms
2
21
0
4
<$400K $400K-499K $500K-599K $600K-699K $700K-799K $800K-899K $900K-999K $1.0M+
<2 bdrms
S-L RATIO SALES INVENTORY
1 1 100%
7 3 43%
9 5 56%
10 2 20%
3 0 n/a
2 0 n/a
10
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. 28 ●
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