Current: White Rock South Surrey is in a Stable Market with average listing inventories, 9 %SOLD rate and a 95% Sell/List Ratio. (This means that there is an average of a $66,500 discount on a sale from the original list price)
Most Active Range: Homes below $900,000 have 33.3 %SOLD rate.
Least Active Range: Homes above $3 mill. have 3.0 %SOLD rate.
History: The S. Surrey White Rock Year-To-Date Home Price Index HPIp (Top 50%) shows that prices decreased $115,510.
The S. Surrey White Rock Year-To-Date Home Price Index HPIp (Lower 50%) shows that prices increased $96,281.
*The HPIp (Home Price Index) is an approximate reflection of the Average Home Price Changes.
Forecast: White Rock South Surrey has average Listing supply; 478 homes are for sale and with the 9 %SOLD monthly rate gives us a ~11 months of inventory. 3% of the active listings have reduced their price by $67,317 on average or $56,500 median for the last month. We project White Rock South Surrey to be a continued Sellers market.
December's Real Estate Statistics show 51% of Vancouver's Detached Markets increasing values this month. Overall, Single Family Homes in Metro Vancouver experienced an Average Monthly Price decrease of $12,671, which is a big drop from the $3,870 increase that we saw in the month prior. On the an Average Monthly Price increase of $5,518, which is close to the $6,132 increase that we saw in the month prior. With the much tougher mortgage lending rules upon us, the pending higher interest rates, pending trade tariffs and the chilly economic winds arriving starting in January, we are forecasting the beginning of Buyers Market across most Detached and Townhouse Markets.
Currently, the Condo Markets set the pace with 67% still increasing in Greater Vancouver (Lower Mainland) (20 of 30 Markets). We are forecasting a continued Seller's Market in the Condo Markets for the following month. 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 Neighbourhood.