surrey CONDO - JUNE 2 0 2 4
SALES TO LISTINGS RATIO 18% BALANCED MARKET
▶ MARKET SUMMARY
AVERAGE PRICE
AVERAGE PSF PRICE ▼ 3% VS 2023
MEDIAN PRICE
TOTAL INVENTORY
SALES
▲ 5% VS 2023
▲ 3% VS 2023
▲ 61% VS 2023
▼ 26% VS 2023
There were 1,079 condo listings in Surrey in June, 8% above May and 61% higher than June 2023.
June condo sales decreased by 9% month-over-month, to 193, and were 26% below June 2023.
THIS MONTH No.
PREVIOUS MONTH
PREVIOUS YEAR
No. 260 669
% Change
No. 213 996
% Change
The sales-to-listing ratio for condos in Surrey, at 18%, reflected a balanced market.
TOTAL INVENTORY TOTAL SALES SALES-LISTINGS RATIO MEDIAN SOLD PRICE AVERAGE SOLD PRICE AVERAGE PRICE PSF
$713 $576,564 $574,000 18% 193 1,079
-54% -26% 61%
0.5% 6% 4% -16% -9% 8%
The condo median price in June was $574,000, a 4% increase from May and 3% above June 2023. The average sold price was $576,564, 6% above last month; the average PSF sale price was $713, up 0.5% to last month.
$737 $547,533 $555,000 39%
$709 $542,355 $550,000 21%
-3% 5% 3%
▶ AVG PRICE PER SQUARE FOOT
▶ RECENT TRENDS
● JUN 2023 ● JUN 2024
● SALES ● TOTAL INVENTORY ● MEDIAN PRICE
1,079
925
996
810
792
746
669
738
670
667
654
632
605
226
213
205
260
195
150
148
193
223
190
162
148
138
$574K
$555K
$554K
$550K
$550K
$545K
$543K
$537K
$541K
$542K
$534K
$535K
$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
350
100%+
300
4+ bdrms
2
250
200
6
3 bdrms
38
150
29%
100
127
21%
18% 16%
18%
2 bdrms
13% 10%
549
50
0
60
<$400K $400K-499K $500K-599K $600K-699K $700K-799K $800K-899K $900K-999K $1.0M+
<2 bdrms
S-L RATIO SALES INVENTORY
67 12 18%
286 46 16%
322 67 21%
247 44 18%
107 14 13%
40 4 10%
7 2 29%
3 4 133%
490
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. 46 ●
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