fraser valley board area CONDO - NOVEMBER 2 0 2 3
SALES TO LISTINGS RATIO 20% BALANCED MARKET
▶ MARKET SUMMARY
AVERAGE PRICE
AVERAGE PSF PRICE ▲ 12% VS 2022
MEDIAN PRICE
TOTAL LISTINGS
SALES
▲ 10% VS 2022
▲ 7% VS 2022
▲ 18% VS 2022
▲ 6% VS 2022
There were 1,456 condo listings in the Fraser Valley board area in November, 0.7% below October and 18% higher than November 2022. November condo sales decreased by 9% month-over-month, to 289, and were 6% above November 2022. The sales-to-listing ratio for condos in the Fraser Valley board area, at 20%, reflected a balanced market. The condo median price in November was $525,000, a 2% increase from October and 7% above November 2022. The average sold price was $561,989, 4% above last month; the average PSF sale price was $677, up 3% 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
$677 $561,989 $525,000 20% 289 1,456
$603 $511,514 $490,000 22% 273 1,237
12% 10% 7% -10% 6% 18%
$655 $542,450 $514,000 22% 319 1,467
-9% -9% -0.7%
3% 4% 2%
▶ AVG PRICE PER SQUARE FOOT
▶ RECENT TRENDS
● NOV 2022 ● NOV 2023
● SALES ● TOTAL INVENTORY ● MEDIAN PRICE
1,456
1,467
1,272
1,237
1,412
1,190
1,342
1,287
1,073
1,060
1,062
1,017
975
569
491
414
517
319
487
459
289
273
343
285
217
198
$538K
$540K
$535K
$528K
$525K
$525K
$514K
$510K
$510K
$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
800
700
4+ bdrms
4
600
500
18
3 bdrms
400
93
300
28%
162
200
23%
2 bdrms
15%
15% 16%
864
13%
100
8%
0
109
<$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
101 28 28%
743 174 23%
472 69 15%
77 12 16%
26 2 8%
15 2 13%
9 0 n/a
13 2 15%
495
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. 13 ●
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