fraser valley board area CONDO - JUNE 2 0 2 4
SALES TO LISTINGS RATIO 21% BALANCED MARKET
▶ MARKET SUMMARY
AVERAGE PRICE
AVERAGE PSF PRICE ▲ 1.4% VS 2023
MEDIAN PRICE
TOTAL INVENTORY
SALES
▲ 5% VS 2023
▲ 6% VS 2023
▲ 51% VS 2023
▼ 30% VS 2023
There were 1,924 condo listings in the Fraser Valley board area in June, 4% above May and 51% higher than June 2023. June condo sales decreased by 11% month-over-month, to 396, and were 30% below June 2023.
THIS MONTH No.
PREVIOUS MONTH
PREVIOUS YEAR
No.
% Change
No.
% Change
The sales-to-listing ratio for condos in the Fraser Valley board area, at 21%, reflected a balanced market.
TOTAL INVENTORY TOTAL SALES SALES-LISTINGS RATIO MEDIAN SOLD PRICE AVERAGE SOLD PRICE AVERAGE PRICE PSF
$676 $580,141 $559,950 21% 396 1,924
$666 $551,569 $527,000 45% 567 1,271
1.4% 5% 6% -54% -30% 51%
$668 $561,310 $545,000 24% 447 1,857
1.1% 3% 3% -14% -11% 4%
The condo median price in June was $559,950, a 3% increase from May and 6% above June 2023. The average sold price was $580,141, 3% above last month; the average PSF sale price was $676, up 1.1% to last month.
▶ AVG PRICE PER SQUARE FOOT
▶ RECENT TRENDS
● JUN 2023 ● JUN 2024
● SALES ● TOTAL INVENTORY ● MEDIAN PRICE
1,924
1,726
1,857
1,466
1,455
1,410
1,425
1,271
1,339
1,303
1,285
1,179
1,165
454
567
447
422
414
396
458
408
343
319
308
289
278
$560K
$550K
$550K
$545K
$538K
$540K
$530K
$531K
$527K
$525K
$525K
$525K
$514K
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
1,200
3 1
4+ bdrms
1,000
800
17
3 bdrms
600
100
28%
400
22% 20%
265
20%
2 bdrms
14%
11%
1,114
200
6%
0
113
<$600K $600K-799K $800K-999K $1.0M-1.24M $1.25M-1.49M $1.5M-1.99M $2.0M-2.49M $2.5M+
<2 bdrms
S-L RATIO SALES INVENTORY
1,182 258 22%
579 113 20%
104 15 14%
25 7 28%
18 1 6%
9 1 11%
2 0 n/a
5 1 20%
707
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 July 8, 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. 13 ●
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