the rennie review: February 2023

fraservaley board area DETACHED -JANUARY 2023

SALES TO LISTINGSRATIO 12% BALANCEDMARKET

▶ MARKETSUMMARY Therew ere 1,752 detached listingsin the FraserValey board areain January,6% below D ecem berand 65% higherthan January2022. January detached hom esalesdecreased by m onth-over-m onth,to 213,and were59% below January 2022. Thesales-to-listing ratio fordetached in the FraserValey board area,at12% ,reflected abalanced m arket. Thedetachedm edian pricein Januarywas$1,280,000,a 0.4% decreasefrom D ecem berand 27% below January 2022. Theaveragesold pricewas$1,341,739,4% below last m onth and down 30% toJanuary2022.

AVERAGEPRICE

MEDIAN PRICE

TOTALLISTINGS

SALES

▼ 30% VS 2022

▼ 27% VS 2022

▲ 65% VS 2022

▼ 59% VS 2022

THISMONTH No.

PREVIOUSYEAR

PREVIOUSMONTH

No.

% Change

No.

% Change

TOTALLISTINGS TOTALSALES

12% 213 1,752

49% 520 1,061

-30% -27% -75% -59% 65%

14% 260 1,858

-4% -0.4% -13% -18% -6%

SALES-LISTINGSRATIO MEDIAN SOLD PRICE AVERAGESOLD PRICE

$1,391,553 $1,285,000

$1,341,739 $1,280,000

$1,910,018 $1,750,000

▶ RATIO OFMEDIAN PRICES

▶ RECENTTRENDS

● DETACHED-TO-TOWNHOME ● TOWNHOME-TO-CONDO

● SALES ● TOTALINVENTORY ● MEDIAN PRICE

3,131

2,964

2,699

3,041

2,541

2,810

1.88

2,344

2,233

2,588

1.72

1.72

1.65

1,793

1.54

1.50

1,752

1,858

1,013

1,061

427

739

364

520

327

313

260

604

485

213

343

325

$1.75M $1.78M $1.70M

$1.61M $1.53M $1.48M

$1.42M $1.34M $1.32M $1.32M

$1.24M $1.29M $1.28M

Jan-22

Dec-22

Jan-23

▶ TOTALLISTINGS&SALESBYPRICERANGE

SEL ERS'MARKET 21% +

BALANCED 12 - 20%

BUYERS'MARKET <12%

● SALES ● TOTALINVENTORY ● S-L RATIO

400

300

200

30%

27%

25%

24%

100

15%

11%

6%

3%

1%

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

75 19 25%

30 9 30%

95 26 27%

180 44 24%

298 46 15%

406 46 11%

216 14 6%

179 2 1%

273 7 3%

Copyright© February6,2023renniegroupofcom panies.Alrightsreserved.Thism aterialm aynotbereproducedordistributed,inwholeorinpart,withoutthepriorwritenperm is ionoftherenniegroupofcom panies.CurentasofFebruary6,2023.Aldatafrom RealEstate BoardofGreaterVancouverandFraserValey& Rennie.W hiletheinform ationanddatacontainedhereinhasbe nobtainedfrom sourcesde m edreliable,ac uracycan otbeguarante d.renniegroupofcom paniesdoesnotas um eresponsibiltyorliabiltyforanyinac uracies.The recipientoftheinform ationshouldtakestepsastherecipientm ayde m neces arytoverifytheinform ationpriortoplacinganyrelianceupontheinform ation.Theinform ationcontainedwithinthisreportshouldnotbeusedasanopinionofvalue,suchopinionsshouldandcanbe obtainedfrom arennieandas ociatesadvisor.Alinform ationissubjecttochangeandanypropertym aybewithdrawnfrom them arketatanytim ewithoutnoticeorobligationtotherecipientfrom renniegroupofcom panies.E.&O.E.

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