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Current: West Surrey is in a Buyer's Market with an average listing inventory, 6 %SOLD rate and a 93% Sell/List Ratio.
(This means that there is an average of a $97,404 sales discount from the original list price)
Most Active Range: Homes below $1.35 mill. have 13.0 %SOLD rate.
Least Active Range: Homes above $2.2 mill. have 1.9 % SOLD rate.
History: The Surrey West Year-To-Date Home Price Index HPIp (Top 50%) shows that prices increased $250,000.
The Surrey West Year-To-Date Home Price Index HPIp (Lower 50%) shows that prices increased $131,001.
*The HPIp (Home Price Index) is an approximate reflection of the Average Home Price Changes.
Forecast: West Surrey has average Listing supply; 404 homes are for sale and with the 6 %SOLD monthly rate gives us a ~17 months of inventory. 9% of the active listings have reduced their price by $101,634 on average or $100,000 median in the last month. We project West Surrey to be a Buyer's market.
Greater Vancouver October 2022:
67% of Vancouver Real Estate Detached Markets decreased in prices in October. The decrease was only ($13,786) on average. This is ~50% improvement from September's ($27,946) decrease. The Fraser Valley home prices dropped less than 1/2 from the previous month's decrease ($45,444) down to ($22,730). Consumer confidence is impacted by recent interest rate increases, high inflation, and stock market uncertainties. We are forecasting that the majority of the Metro Vancouver Markets will continue to be in a Buyer's Market for the next 3 months and then it could stabilize.
Currently, Both the Condo Markets and Townhouse Markets are also in a Buyer's Market, with the Average Price decrease of ($10,922) and ($12,427) respectively. We analyze and provide 97 individual City's Home Price Indexes to supply you with 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.
Fraser Valley October 2022
In October, Fraser Valley Real Estate Market shows that 78% of the Detached Homes' monthly price decreased by ($22,730) on average. This is a major improvement over the ($45,444) price drop in September. Consumer confidence is impacted by recent interest rate increases, high inflation, and stock market uncertainties. We are forecasting that the majority of the Fraser Valley Markets will continue to be in a Buyer's Market for the next 3 months and then it could stabilize.
Currently, Both the Condo Markets and Townhouse Markets are also in a Buyer's Market, with the Average Price decrease of ($10,922) and ($12,427) respectively. We analyze and provide 97 individual City's Home Price Indexes to supply you with 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.
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