fraser valley board area CONDO - SEPTEMBER 2 0 2 3
SALES TO LISTINGS RATIO 24% SELLERS' MARKET
▶ MARKET SUMMARY
AVERAGE PRICE
AVERAGE PSF PRICE ▲ 7% VS 2022
MEDIAN PRICE
TOTAL LISTINGS
SALES
▲ 4% VS 2022
▲ 5% VS 2022
▲ 8% VS 2022
▲ 23% VS 2022
There were 1,412 condo listings in the Fraser Valley board area in September, 5% above August and 8% higher than September 2022. September condo sales decreased by 17% month-over-month, to 344, and were 23% above September 2022. The sales-to-listing ratio for condos in the Fraser Valley board area, at 24%, reflected a sellers' market. The condo median price in September was $527,000, a 2% decrease from August and 5% above September 2022. The average sold price was $546,078, 2.0% below last month; the average PSF sale price was $670, down 1.1% to last month.
THIS MONTH No.
PREVIOUS MONTH
PREVIOUS YEAR
No.
% Change
No.
% Change
TOTAL LISTINGS TOTAL SALES SALES-LISTINGS RATIO MEDIAN SOLD PRICE AVERAGE SOLD PRICE AVERAGE PRICE PSF
$670 $546,078 $527,000 24% 344 1,412
$624 $524,981 $499,900 21% 279 1,306
14% 23% 8%
$678 $557,198 $540,000 31% 414 1,342
-1.1% -2% -2% -21% -17% 5%
7% 4% 5%
▶ AVG PRICE PER SQUARE FOOT
▶ RECENT TRENDS
● SEP 2022 ● SEP 2023
● SALES ● TOTAL INVENTORY ● MEDIAN PRICE
1,412
1,303
1,272
1,237
1,306
1,190
1,342
1,287
1,073
1,060
1,062
1,017
975
569
491
414
517
487
459
273
344
279
285
277
217
198
$538K
$540K
$535K
$528K
$527K
$505K
$510K
$510K
$500K
$497K
$499K
$490K
$485K
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
700
4+ bdrms
600
3
500
17
400
3 bdrms
95
300
34%
30%
200
212
25%
2 bdrms
18%
17%
843
100
7%
0
115
<$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
109 37 34%
695 211 30%
474 84 18%
83 6 7%
16 4 25%
12 2 17%
10 0 n/a
13 0 n/a
471
Copyright © October 10, 2023 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 10, 2023. 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. 13 ●
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