surrey CONDO - SEPTEMBER 2 0 2 3
SALES TO LISTINGS RATIO 20% BALANCED MARKET
▶ MARKET SUMMARY
AVERAGE PRICE
AVERAGE PSF PRICE ▲ 7% VS 2022
MEDIAN PRICE
TOTAL LISTINGS
SALES
▲ 5% VS 2022
▲ 7% VS 2022
▲ 29% VS 2022
▲ 9% VS 2022
There were 747 condo listings in Surrey in September, 12% above August and 29% higher than September 2022. September condo sales decreased by 28% month-over-month, to 148, and were 9% above September 2022. The sales-to-listing ratio for condos in Surrey, at 20%, reflected a balanced market. The condo median price in September was $541,000, a 0.7% decrease from August and 7% above September 2022. The average sold price was $540,549, 1.5% below last month; the average PSF sale price was $734, down 1.0% to last month.
THIS MONTH No.
PREVIOUS MONTH
PREVIOUS YEAR
No. 136 579
% Change
No. 205 667
% Change
TOTAL LISTINGS TOTAL SALES SALES-LISTINGS RATIO MEDIAN SOLD PRICE AVERAGE SOLD PRICE AVERAGE PRICE PSF
148 747
7% 5% 7% -16% 9% 29%
-1% -1.5% -0.7% -36% -28% 12%
$734 $540,549 $541,000 20%
$686 $513,776 $506,000 23%
$742 $548,856 $545,000 31%
▶ AVG PRICE PER SQUARE FOOT
▶ RECENT TRENDS
● SEP 2022 ● SEP 2023
● SALES ● TOTAL INVENTORY ● MEDIAN PRICE
747
669
604
590
576
667
654
579
497
496
485
463
465
260
237
222
205
236
130
223
104
148
136
148
116
87
$558K
$555K
$545K
$537K
$541K
$530K
$532K
$525K
$515K
$508K
$506K
$500K
$480K
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
400
4+ bdrms
1
300
5
3 bdrms
46
200
31%
82
23%
100
2 bdrms
15%
410
7%
0
61
<$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
36 11 31%
403 94 23%
275 41 15%
29 2 7%
2 0 n/a
1 0 n/a
1 0 n/a
290
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. 46 ●
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