surrey DETACHED - MAY 2 0 2 4
SALES TO LISTINGS RATIO 15% BALANCED MARKET
▶ MARKET SUMMARY
AVERAGE PRICE
MEDIAN PRICE
TOTAL INVENTORY
SALES
▲ 45% VS 2023
▼ 4% VS 2023
▼ 3% VS 2023
▼ 14% VS 2023
There were 1,643 detached listings in Surrey in May, 8% above April and 45% higher than May 2023. May detached home sales increased by 14% month-over-month, to 250, and were 14% below May 2023. The sales-to-listing ratio for detached in Surrey, at 15%, re'ected a balanced market.
THIS MONTH No. $1,811,339 $1,595,000 15% 250 1,643
PREVIOUS MONTH
PREVIOUS YEAR
No.
% Change
No.
% Change
TOTAL INVENTORY TOTAL SALES SALES-LISTINGS RATIO MEDIAN SOLD PRICE AVERAGE SOLD PRICE
$1,883,158 $1,650,000 26% 291 1,132
-41% -14% 45%
$1,740,590 $1,565,000 14% 219 1,524
4% 1.9% 6% 14% 8%
The detached median price in May was $1,595,000, a 1.9% increase from April and 3% below May 2023.
The average sold price was $1,811,339, 4% above last month and down 4% to May 2023.
-4% -3%
▶ RATIO OF MEDIAN PRICES
▶ RECENT TRENDS
● DETACHED-TO-TOWNHOME ● TOWNHOME-TO-CONDO
● SALES ● TOTAL INVENTORY ● MEDIAN PRICE
1,643
1,524
1,497
1,460
1,358
1,350
1,269
1,392
1.91
1.84
1,275
1,132
1.77
1,120
1,094
1.61
1.58
977
1.55
299
291
186
178
148
250
130
134
123
219
202
175
166
$1.65M $1.67M $1.59M $1.62M $1.59M
$1.50M $1.50M $1.43M
$1.50M $1.58M $1.60M $1.57M $1.60M
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
600
500
400
53%
300
29%
200
24%
17%
12%
8%
100
5%
4%
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
14 4 29%
45 24 53%
271 64 24%
631 107 17%
249 29 12%
174 9 5%
132 11 8%
35 0 n/a
38 0 n/a
54 2 4%
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. 44 ●
Made with FlippingBook - professional solution for displaying marketing and sales documents online