the rennie review - April 2020

surrey

CONDO  MARCH 

AVERAGE PRICE

AVERAGE PSF PRICE 4 % UP

BENCHMARK PRICE 1.4 % UP

TOTAL LISTINGS

SALES

SALES TO LISTING RATIO

MARKET SUMMARY ›

27 % DOWN

1.6 % UP

5 % UP

SELLER’S 31 %

Condo listings in Surrey increased to 570 in March, 4% above February but 27% lower vs March 2019. Condo sales were up 3% month-over-month in March (to 174) and 5% higher year-over-year. The sales-to-listings ratio remained at 31%, reflect- ing seller’s market conditions in Surrey. March’s condo benchmark price of $445,100 was 1.9% above February and 1.4% higher vs March 2019. The average sold price was $404,671 at an average PSF sales price of $514 (up 2% and 3%, respectively, from February).

VS 

VS 

VS 

VS 

VS 

PREVIOUS MONTH

PREVIOUS YEAR

THIS MONTH No.

No. 548 169 31%

% Change

No. 782 166 21%

% Change

TOTAL LISTINGS

570 174 31%

4% 3%

-27%

TOTAL SALES

5%

SALES-LISTINGS RATIO BENCHMARK PRICE AVERAGE SOLD PRICE AVERAGE PRICE PSF

-1.0%

44% 1.4% 1.6%

$445,100 $436,700 $404,671 $395,046

1.9% $438,900 2% $398,227

$514

$497

3%

$495

4%

AVG PRICE PER SQUARE FOOT ›

HISTORICAL TREND

SALES

TOTAL INVENTORY

BENCHMARK PRICE

$438,900 $434,200 $426,400 $424,800 $426,700 $429,700 $445,100

853

813

782

768

653

570

497

191

189

178

177

174

166

137

SURREY

FVREB

TOTAL LISTINGS & SALES BY PRICE RANGE

NUMBER OF BEDROOMS

SALES

TOTAL INVENTORY

SL RATIO

SALES TOTAL INVENTORY



SELLER'S MARKET

  



BALANCED



6

BUYER'S MARKET

3+ bdrms



33





99



2 bdrms

358







69



<2 bdrms

. . . . 0 0 0 0    QD QD QD QD QD                

179

S-L RATIO SALES INVENTORY

Copyright © 2020 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 April 3, 2020. 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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