the rennie review - August 2023

fraservaley board area CONDO -JULY 2023

SALES TO LISTINGSRATIO 36% SELLERS'M ARKET

▶ MARKETSUMMARY Therewere1,287 condolistingsin theFraserValey board areain July,1.3% aboveJuneand 0.5% lowerthan July2022. Julycondosalesdecreased by19% m onth-over-m onth,to 460,and were29% aboveJuly2022.

AVERAGEPRICE

AVERAGE PSF PRICE ▲ 1.7% VS 2022

MEDIAN PRICE

TOTALLISTINGS

SALES

▲ 0.6% VS 2022

▲ 0.5% VS 2022

▼ 0.5% VS 2022

▲ 29% VS 2022

THISMONTH No.

PREVIOUSMONTH

PREVIOUSYEAR

No.

% Change

No.

% Change 0.5% 1.3% 1.8% -20% -19% 1.3%

Thesales-to-listing ratio forcondosin the FraserValey board area,at36% ,reflected aselers'm arket.

TOTALLISTINGS TOTALSALES

36% 460 1,287

28% 356 1,294

1.7% 0.6% 0.5% 30% 29% -0.5%

45% 569 1,271

Thecondom edian pricein Julywas$537,750,a1.8% increasefrom Juneand 0.5% aboveJuly2022. Theaveragesold pricewas$559,559,1.3% abovelast m onth;theaveragePSF salepricewas$669,up 0.5% to lastm onth.

SALES-LISTINGSRATIO MEDIAN SOLD PRICE AVERAGESOLD PRICE AVERAGEPRICEPSF

$669 $559,559 $537,750

$665 $552,478 $528,000

$658 $556,003 $535,000

▶ AVG PRICEPERSQUAREFOOT

▶ RECENTTRENDS

● JUL 202 ● JUL 2023

● SALES ● TOTALINVENTORY ● MEDIAN PRICE

1,237

1,294

1,287

1,189

1,306

1,303

1,271

1,236

1,073

1,062

1,060

1,017

975

569

491

460

517

487

356

273

305

285

279 277

217

198

$535K

$515K $500K $505K $490K $485K $497K $499K

$510K $510K $535K $528K $538K

FVREB

REBGV

▶ NUMBEROFBEDROOMS

▶ TOTALLISTINGS&SALESBYPRICERANGE

SEL ERS'MARKET 21% +

BALANCED 12 - 20%

BUYERS'MARKET <12%

● SALES ● TOTALINVENTORY

● SALES ● TOTALINVENTORY ● S-L RATIO

700

1 1

600

4+ bdrms

500

20

400

3 bdrms

94

48%

300

40%

32%

32%

200

286

25%

2 bdrms

20%

19%

766

100

0

153

<$400K $400-599K $600-799K $800-999K $1.0M -1.24M $1.25M -1.49M $1.5M -1.99M $2M +

<2 bdrms

S-L RATIO SALES INVENTORY

99 48 48%

651 258 40%

400 127 32%

84 16 19%

19 6 32%

12 3 25%

10 2 20%

12 0 n/a

426

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