fraser valley board area DETACHED - NOVEMBER 2 0 2 3
SALES TO LISTINGS RATIO 11% BUYERS' MARKET
▶ MARKET SUMMARY
AVERAGE PRICE
MEDIAN PRICE
TOTAL LISTINGS
SALES
▲ 12% VS 2022
▲ 9% VS 2022
▲ 25% VS 2022
▲ 1.9% VS 2022
There were 2,923 detached listings in the Fraser Valley board area in November, 9% below October and 25% higher than November 2022. November detached home sales decreased by 14% month-over-month, to 319, and were 1.9% above November 2022. The sales-to-listing ratio for detached in the Fraser Valley board area, at 11%, reflected a buyers' market. The detached median price in November was $1,350,000, a 4% decrease from October and 9% above November 2022. The average sold price was $1,481,855, 3% below last month and up 12% to November 2022.
THIS MONTH No. $1,481,855 $1,350,000 11% 319 2,923
PREVIOUS MONTH
PREVIOUS YEAR
No.
% Change
No.
% Change
TOTAL LISTINGS TOTAL SALES SALES-LISTINGS RATIO MEDIAN SOLD PRICE AVERAGE SOLD PRICE
$1,328,294 $1,235,000 13% 313 2,344
12% 9% -18% 1.9% 25%
$1,522,597 $1,400,000 12% 373 3,220
-3% -4% -6% -14% -9%
▶ RATIO OF MEDIAN PRICES
▶ RECENT TRENDS
● DETACHED-TO-TOWNHOME ● TOWNHOME-TO-CONDO
● SALES ● TOTAL INVENTORY ● MEDIAN PRICE
3,217
2,946
3,220
2,794
2,923
3,024
2,533
2,344
1.70
1.63
1.63 1.58
1.60
1,939
1.55
1,998
1,858
1,848
1,752
772
590
448
373
258
657
213
590
319
313
448
376
323
$1.43M $1.50M $1.50M $1.46M $1.44M $1.46M
$1.40M $1.35M
$1.28M $1.28M $1.31M $1.35M
$1.24M
22-Nov
23-Oct
23-Nov
▶ TOTAL LISTINGS & SALES BY PRICE RANGE
SELLERS' MARKET 21% +
BALANCED 12 - 20%
BUYERS' MARKET <12%
● SALES ● TOTAL INVENTORY ● S-L RATIO
800
600
400
36%
25%
25%
200
17%
14%
9%
6%
5%
2%
0
<$600K
$600-799K
$800-999K
$1.0M-1.24M $1.25M-1.49M $1.5M-1.99M $2.0M-2.49M $2.5M-2.99M
$3M+
S-L RATIO SALES INVENTORY
56 14 25%
39 14 36%
130 22 17%
260 65 25%
571 81 14%
864 81 9%
375 20 5%
230 13 6%
398 9 2%
Copyright © 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 December 11, 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.
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