Current: East Surrey is in a Buyer Market with 9 %SOLD rate, 24 DOM and 96% Sell/List Ratio.
(This means that there is an average (m) of a $36,444 discount from the original list price)
Most Active Range: Homes below $800,000 have 50.0 %SOLD rate.
Least Active Range: Homes between $1.2 mill. - $1.5 mill. have 4.6 %SOLD rate.
History: The Surrey East Year-To-Date Home Price Index HPIp (Top 50%) shows that prices decreased $26,000.
The Surrey East Year-To-Date Home Price Index HPIp (Lower 50%) shows that prices decreased $6,999.
*The HPIp (Home Price Index) is an approximate reflection of the Average Home Price Changes.
Forecast: East Surrey has an average Listing Supply; 377 homes are for sale and with the 9 %SOLD monthly rate gives us 11 months of inventory. 13% of the active listings have reduced their price by $46,355 on average or $35,988 on median in the last month. We project East Surrey to be a continued Buyer market.
November's Real Estate Statistics shows Vancouver's Detached Markets values experienced an Average Monthly Price decrease of $11,521. This exceeds the $7,184 drop that we saw in the month prior. On Average, the Fraser Valley Market had a $7,425 monthly price decrease. Consumer confidence has been boosted with our new NAFTA trade agreement but offset with the continued, the GM plant shutdown in Oshawa, on tougher mortgage lending rules and pending interest rate increases. We are still forecasting a Buyer's Market across most Detached Markets for the following months.
Currently, the Condo Market continues to present a Cool Market with 87% of the Greater Vancouver (Lower Mainland) now decreasing. At the same time, 89% of Townhouse Markets are decreasing. (25 out of 28 Markets). We are still forecasting a Buyer’s Market in all Condo/Townhouse Markets for the foreseeable future. We analyze and provide 97 individual City's Home Price Indexes to supply you the MOST ACCURATE Market Trends every 2 weeks. Please contact us for your own Market Value Update with an in-depth Analysis and Forecast in your Local Market Area and more specifically - Your Neighborhood.