Current: White Rock South Surrey is in a Buyer Market with average listing inventories, 8 %SOLD rates and a 93% Sell/List Ratio.
(This means that there is an average of a $71,500 discount on a sale from the original list price)
Most Active Range: Homes below $900,000 have 19.6 %SOLD rate.
Least Active Range: Homes above $1.9 mill. have 1.6 %SOLD rate.
History: The S. Surrey White Rock Year-To-Date Home Price Index HPIp (Top 50%) shows that prices decreased $212,171.
The S. Surrey White Rock Year-To-Date Home Price Index HPIp (Lower 50%) shows that prices decreased $54,000.
*The HPIp (Home Price Index) is an approximate reflection of the Average Home Price Changes.
Forecast: White Rock South Surrey has average Listing supply; 719 homes are for sale and with the 8 %SOLD monthly rate gives us a ~13 months of inventory. 23% of the active listings have reduced their price by $101,732 on average or $71,500 median for the last month. We project White Rock South Surrey to be a continued Buyer market.
November's Real Estate Statistics shows Single Family Homes in Metro Vancouver experienced an Average Monthly Price Decrease of $5,488. This is an improvement from the $8,735 drop in October. While home prices declined for 29 consecutive months, we have built up a lot of pent-up buyers just waiting for the market to bottom out. Now some of these buyers are finally stepping back into the market in the lower-end price ranges. Today we have a stark difference between the Low-End and High-End Markets. Over the next few months, we are forecasting price stabilization in the Low-End (lower-50%) and continual decline for the High-End (Top-50%) Vancouver Detached Home Markets.
Currently, the Condo Market presents near stable Market conditions with 57% of the Greater Vancouver (Lower Mainland) Condo Prices decreasing just $308 on average. On the same note, 57% of the Townhouse Markets decreased $623 on average (12 out of 28 Markets). We are forecasting a stable Condo and Townhouse Markets in the coming months. 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.