Current: West Surrey is in a Seller Market with an average listing inventory, 18 %SOLD rate and a 98% Sell/List Ratio.
(This means that there is an average of a $21,600 sales discount from the original list price)
Most Active Range: Homes between $850,000 - $940,000 have 28.4 %SOLD rate.
Least Active Range: Homes above $1.45 mill. have 5.2 % SOLD rate.
History: The Surrey West Year-To-Date Home Price Index HPIp (Top 50%) shows that prices increased $33,099.
The Surrey West Year-To-Date Home Price Index HPIp (Lower 50%) shows that prices increased $41,964.
*The HPIp (Home Price Index) is an approximate reflection of the Average Home Price Changes.
Forecast: West Surrey has average Listing supply; 470 homes are for sale and with the 18 %SOLD monthly rate gives us a ~6 months of inventory. 9% of the active listings have reduced their price by $38,109 on average or $29,506 median in the last month. We project West Surrey to be a Seller market.
June's Real Estate Statistics still shows that 86% of Single-Family Homes in Metro Vancouver are in a Seller's Market. The Average Monthly Prices increased $4,262 which is almost the same price increase we saw last March. On the other hand, Fraser Valley Single Family Homes had a $2,625 monthly price increase. We saw a 50% increase in sales last month and a significant increase in new listings. Thus, we are forecasting that the Markets will start to stabilize this coming month.
Currently, Condos are in a Seller Market with 57% of the Greater Vancouver (Lower Mainland) Condo Prices increasing. On average, the Condo Market went up $323. At the same time, the Townhouse Markets increased $1,529. That is 75% increased (21 out of 28 Markets). We analyze and provide 97 individual City's Home Price Indexes to supply you the MOST ACCURATE Market Trends every Saturday. 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.