Current: West Surrey is in a Seller Market with an average listing inventory, 21 %SOLD rate and a 97% Sell/List Ratio.
(This means that there is an average of a $28,000 sales discount from the original list price)
Most Active Range: Homes between $900,000 - $1,000,000 have 28.8 %SOLD rate.
Least Active Range: Homes $1.3 mill. have 13.5 % SOLD rate.
History: The Surrey West Year-To-Date Home Price Index HPIp (Top 50%) shows that prices increased $44,453.
The Surrey West Year-To-Date Home Price Index HPIp (Lower 50%) shows that prices increased $28,396.
*The HPIp (Home Price Index) is an approximate reflection of the Average Home Price Changes.
Forecast: West Surrey has average Listing supply; 363 homes are for sale and with the 21 %SOLD monthly rate gives us a ~5 months of inventory. 5% of the active listings have reduced their price by $57,595 on average or $49,955 median in the last month. We project West Surrey to be a Seller market.
March's Real Estate Statistics shows that we had a Normal Spring Market! Single Family Homes in Metro Vancouver experienced an Average Monthly Price increase of $4,090 which is a continuous improvement from the $2,749 price increase the month prior. At the same rate, Single Family Homes in the Fraser Valley Market had a $4,142 monthly price increase. This is 2nd month (last month) and next to our most solid recovery month since we peaked in April 2018 in Fraser Valley area. Despite the Covid19 cases increasing worldwide, 86% of Detached Market is showing an upward trend. Yes, both sales and inventory have dropped in the last few weeks, but the sell-through-rates continue to be high suggesting a steady market. But with the Stock Market volatility and the pandemic on hand we are not going to forecast the Markets this coming month.
Currently, the Condo Market presents Seller Market conditions with 86% of the Greater Vancouver (Lower Mainland) Condo Prices increasing $1,420 on average. At the same time, 71% of the Townhouse Markets increased $1,094 on average (20 out of 28 Markets). 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.