the rennie review - October 2020

surrey

CONDO  SEPTEMBER 

AVERAGE PRICE

AVERAGE PSF PRICE 7 % UP

BENCHMARK PRICE 5 % UP

TOTAL LISTINGS

SALES

SALES TO LISTING RATIO

MARKET SUMMARY ›

6 % UP

15 % UP

24 % UP

SELLER’S 25 %

Condo listings in Surrey increased to 882 in September, 0.7% above August and 15% higher vs September 2019. Condo sales, at 220, were up 7% month-over-month and 24% higher year-over-year. The sales-to-listings ratio increased slightly 25%, reflecting seller’s market conditions in Surrey. September’s condo benchmark price of $401,800 was 0.3% below August but 5% higher vs September 2019. The average sold price was $412,096 at an average PSF sales price of $521 (up 0.6% and down 1.0%, respectively, from August).

VS 

VS 

VS 

VS 

VS 

PREVIOUS MONTH

PREVIOUS YEAR

THIS MONTH No.

No. 876 206 24%

% Change

No. 768 178 23%

% Change

TOTAL LISTINGS

882 220 25%

0.7%

15% 24%

TOTAL SALES

7% 6%

SALES-LISTINGS RATIO BENCHMARK PRICE AVERAGE SOLD PRICE AVERAGE PRICE PSF

8% 5% 6% 7%

$401,800 $403,000 $412,096 $409,533

-0.3% $383,800 0.6% $387,906 -1.0% $488

$521

$526

AVG PRICE PER SQUARE FOOT ›

HISTORICAL TREND

SALES

TOTAL INVENTORY

BENCHMARK PRICE

$404,400 $401,800

$383,800 $385,600 $388,300 $402,400 $399,200

882

829

768

672

653

604

497

220

205

189

178

174

137

82

SURREY

FVREB

TOTAL LISTINGS & SALES BY PRICE RANGE

NUMBER OF BEDROOMS

SALES

TOTAL INVENTORY

SL RATIO

SALES TOTAL INVENTORY



SELLER'S MARKET

  



BALANCED



3

BUYER'S MARKET

3+ bdrms

45







130

2 bdrms





563





87



<2 bdrms

. . . . 0 0 0 0     QD QD QD QD                

274

S-L RATIO SALES INVENTORY

Copyright © 2020 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 October 5, 2020. All data from Real Estate Board of Greater Vancouver and Fraser Valley & 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.

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