Current: East Surrey is in a Seller Market with 15 %SOLD rate, 23 DOM and 96% Sell/List Ratio.
(This means that there is an average (m) of a $48,000 discount from the original list price)
Most Active Range: Homes between $800,000 - $900,000 have 31.0 % SOLD rate.
Least Active Range: Homes above $1.5 mill. have 5.1 %SOLD rate.
History: The Surrey East Year-To-Date Home Price Index HPIp (Top 50%) shows that prices decreased $23,364.
The Surrey East Year-To-Date Home Price Index HPIp (Lower 50%) shows that prices decreased $68,001.
*The HPIp (Home Price Index) is an approximate reflection of the Average Home Price Changes.
Forecast: East Surrey has an average Listing Supply; 468 homes are for sale and with the 15 %SOLD monthly rate gives us -7 months of inventory. 16% of the active listings have reduced their price by $56,662 on average or $40,000 on median in the last month. We project East Surrey to be a continued Stable market.
May's Real Estate Statistics shows 64% of Vancouver's Detached Markets values decreased this month. Generally, Single Family Homes in Metro Vancouver experienced an Average Monthly Price Decrease of $14,880, which is a significant decline from last month's $8,007 price drop. On the other hand, the Fraser Valley shows a steady Market with the monthly price increase of $1,580. The following month's forecasts for Detached Homes are: a continued Buyer's Market across most of Vancouver and a Stable Market over most of the Fraser Valley.
Currently, the Condo Market presents a Warmer Market with 43% of the Greater Vancouver (Lower Mainland) Condo Prices Increasing. On the same note, 46% of the Townhouse Markets are Increasing. (13 out of 28 Markets). We are forecasting a Buyers’ Market in most Condo and Townhouse Markets for the coming 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 Neighborhood.