surrey CONDO - NOVEMBER 2 0 2 3
SALES TO LISTINGS RATIO 19% BALANCED MARKET
▶ MARKET SUMMARY
AVERAGE PRICE
AVERAGE PSF PRICE ▲ 13% VS 2022
MEDIAN PRICE
TOTAL LISTINGS
SALES
▲ 6% VS 2022
▲ 5% VS 2022
▲ 37% VS 2022
▲ 28% VS 2022
There were 791 condo listings in Surrey in November, 2% below October and 37% higher than November 2022. November condo sales decreased by 1.3% month-over-month, to 148, and were 28% above November 2022. The sales-to-listing ratio for condos in Surrey, at 19%, reflected a balanced market. The condo median price in November was $541,500, a 1.5% increase from October and 5% above November 2022. The average sold price was $555,448, 1.8% above last month; the average PSF sale price was $723, up 1.7% to last month.
THIS MONTH No.
PREVIOUS MONTH
PREVIOUS YEAR
No. 116 576
% Change
No. 150 809
% Change
TOTAL LISTINGS TOTAL SALES SALES-LISTINGS RATIO MEDIAN SOLD PRICE AVERAGE SOLD PRICE AVERAGE PRICE PSF
148 791
13% 6% 5% -7% 28% 37%
1.7% 1.8% 1.5% 0.9% -1.3% -2%
$723 $555,448 $541,500 19%
$637 $523,108 $515,000 20%
$711 $545,459 $533,750 19%
▶ AVG PRICE PER SQUARE FOOT
▶ RECENT TRENDS
● NOV 2022 ● NOV 2023
● SALES ● TOTAL INVENTORY ● MEDIAN PRICE
746
791
809
669
604
576
667
654
497
496
485
465
463
260
237
222
205
150
236
223
104
148
116
148
148
87
$558K
$555K
$545K
$542K
$537K
$541K
$532K
$534K
$525K
$515K
$508K
$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
10
3 bdrms
51
200
30%
75
22%
2 bdrms
100
423
14%
13%
0
63
<$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
39 5 13%
442 97 22%
277 38 14%
27 8 30%
2 0 n/a
1 0 n/a
2 0 n/a
1 0 n/a
316
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. 46 ●
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