Current: East Surrey is in a Sellers Market with 39% SOLD rate, 11 DOM and 100% Sell/List Ratio. (This means that there is an average (m) of a $0 discount from the original list price)
Most Active Range: Homes between $750,000 - $8500,000 have 51.1 %SOLD rate.
Least Active Range: Homes above $1.6 mill. have 13.7 %SOLD rate.
History: The Surrey East Year-To-Date Home Price Index HPIp (Top 50%) shows that prices increased $99,632.
The Surrey East Year-To-Date Home Price Index HPIp (Lower 50%) shows that prices increased $75,503.
*The HPIp (Home Price Index) is an approximate reflection of the Average Home Price Changes.
Forecast: East Surrey has an average Listing Supply; 168 homes are for sale and with the 39 %SOLD monthly rate gives us a 3 months of inventory. 2% of the active listings have reduced their price by $53,033.33 on average or $50,100 on median in the last month. We project East Surrey to be a continued sellers market.
May's Real Estate Statistics show ALL 97 Markets are in a Strong Sellers Market and by most accounts, exceeding the 2016 Market Furious Activity Levels. This Consumer Confidence is largely due in part to an increased demand from a Large Local Investor Component and Lower Inventory Levels. Overall, Single Family Homes in Metro Vancouver experienced an Average Monthly Price Increase of $40,337, which is a dramatic increase over the $23,408 increase that we saw in April and Single Family Homes in the Fraser Valley experienced an Average Monthly Price Increase of $25,106, which is a decrease from the $32,589 increase that we saw in April.
Currently 100% of the Attached Markets are increasing at a fast pace in Greater Vancouver's 58 Markets. Last year our Emotionally Charged Single Family Markets peaked in June/July and this year we are forecasting a prolonged Sellers Market across all Markets. We continue to 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 Neighbourhood.