surrey CONDO - MAY 2 0 2 4
SALES TO LISTINGS RATIO 21% SELLERS' MARKET
▶ MARKET SUMMARY
AVERAGE PRICE
AVERAGE PSF PRICE ▼ 1.4% VS 2023
MEDIAN PRICE
TOTAL INVENTORY
SALES
▲ 65% VS 2023
▼ 4% VS 2023
▼ 1.4% VS 2023
▼ 10% VS 2023
There were 996 condo listings in Surrey in May, 8% above April and 65% higher than May 2023.
May condo sales decreased by 6% month-over-month, to 213, and were 10% below May 2023.
THIS MONTH No.
PREVIOUS MONTH
PREVIOUS YEAR
No. 236 604
% Change
No. 226 925
% Change
The sales-to-listing ratio for condos in Surrey, at 21%, re'ected a sellers' market.
TOTAL INVENTORY TOTAL SALES SALES-LISTINGS RATIO MEDIAN SOLD PRICE AVERAGE SOLD PRICE AVERAGE PRICE PSF
213 996
-1.4% -4% -1.4% -45% -10% 65%
3% -3% 0% -12% -6% 8%
The condo median price in May was $550,000, a 0% change from April and 1.4% below May 2023. The average sold price was $542,355, 3% below last month; the average PSF sale price was $709, up 3% to last month.
$709 $542,355 $550,000 21%
$720 $562,815 $557,950 39%
$690 $560,734 $550,000 24%
▶ AVG PRICE PER SQUARE FOOT
▶ RECENT TRENDS
● MAY 2023 ● MAY 2024
● SALES ● TOTAL INVENTORY ● MEDIAN PRICE
996
925
810
792
746
669
738
670
604
667
654
632
605
260
226
205
195
236
150
213
148
223
190
162
148
138
$558K
$555K
$554K
$550K
$550K
$545K
$542K
$543K
$537K
$541K
$535K
$534K
$525K
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
300
4+ bdrms
250
1
200
8
3 bdrms
150
34
30%
100
24% 24% 22%
123
2 bdrms
11%
528
50
6%
0
82
<$400K $400K-499K $500K-599K $600K-699K $700K-799K $800K-899K $900K-999K $1.0M+
<2 bdrms
S-L RATIO SALES INVENTORY
64 19 30%
237 58 24%
292 71 24%
248 55 22%
106 6 6%
35 4 11%
8 0 n/a
6 0 n/a
433
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. 46 ●
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