fraser valley board area CONDO - OCTOBER 2 0 2 4
SALES TO LISTINGS RATIO 18% BALANCED MARKET
▶ MARKET SUMMARY
AVERAGE PRICE
AVERAGE PSF PRICE ▲ 2% VS 2023
MEDIAN PRICE
TOTAL INVENTORY
SALES
▲ 1.8% VS 2023
▲ 5% VS 2023
▲ 52% VS 2023
▲ 24% VS 2023
There were 2,231 condo listings in the Fraser Valley board area in October, 1.2% below September and 52% higher than October 2023. October condo sales increased by 34% month-over-month, to 394, and were 24% above October 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 18%, re(ected a balanced market.
TOTAL INVENTORY TOTAL SALES SALES-LISTINGS RATIO MEDIAN SOLD PRICE AVERAGE SOLD PRICE AVERAGE PRICE PSF
$669 $552,241 $539,500 18% 394 2,231
$655 $542,450 $514,000 22% 319 1,466
2% 1.8% 5% -19% 24% 52%
$658 $558,378 $530,000 13% 294 2,258
1.8% -1.1% 1.8% 36% 34% -1.2%
The condo median price in October was $539,500, a 1.8% increase from September and 5% above October 2023. The average sold price was $552,241, 1.1% below last month; the average PSF sale price was $669, up 1.8% to last month.
▶ AVG PRICE PER SQUARE FOOT
▶ RECENT TRENDS
● OCT 2023 ● OCT 2024
● SALES ● TOTAL INVENTORY ● MEDIAN PRICE
2,231
2,050
2,258
1,857
2,083
1,726
1,922
1,455
1,466
1,425
1,303
1,179
1,165
453
447
422
371
394
319
408
396
323
308
289
294
278
$560K
$550K
$550K
$545K
$540K
$530K
$531K
$530K
$530K
$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
1,400
3 3
4+ bdrms
1,200
1,000
18
800
3 bdrms
138
600
400
245
20%
16%
2 bdrms
12%
12%
1,282
7%
200
0
128
<$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
1,372 270 20%
657 104 16%
121 15 12%
41 3 7%
17 2 12%
11 0 n/a
6 0 n/a
6 0 n/a
808
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 November 12, 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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