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Current: West Surrey is in a Buyer's Market with an average listing inventory, 9 %SOLD rate and a 101% Sell/List Ratio.
(This means that there is an average of a $29,500 sales discount from the original list price)
Most Active Range: Homes below $1.35 mill. have 22.2 %SOLD rate.
Least Active Range: Homes between $1.85 mill. - $2.2 mill. have 4.1 % SOLD rate.
History: The Surrey West Year-To-Date Home Price Index HPIp (Top 50%) shows that prices increased $438,117.
The Surrey West Year-To-Date Home Price Index HPIp (Lower 50%) shows that prices increased $295,954.
*The HPIp (Home Price Index) is an approximate reflection of the Average Home Price Changes.
Forecast: West Surrey has average Listing supply; 467 homes are for sale and with the 9 %SOLD monthly rate gives us a ~9 months of inventory. 9% of the active listings have reduced their price by $121,573 on average or $100,300 median in the last month. We project West Surrey to be a Seller market.
Greater Vancouver May 2022:
May's Real Estate Statistics shows Vancouver's Detached Markets decreased by ($25,900) on average that is 76% of the homes dropped in value. This is the 3rd drop since Peak (Feb 2022). This is partially caused by the erosion of consumer confidence with the $2+/litre gas prices, interest rates, and economic woes. We are now forecasting that the majority of the Metro Vancouver Markets will be in a continued Buyer’s Market for the months. The Fraser Valley prices dropped a whopping ($44,898) on average.
Currently, Both the Condo Markets and Townhouse Markets are in a Buyer's Market, with an Average Price decrease of ($10,062) and ($16,759) 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 May 2022:
The 89% of Fraser Valley's Detached Home Market dropped in May and Average Prices decreased ($44,898). This is the biggest MAY drop we've seen on record. This adjustment is partially caused by the erosion of consumer confidence with the $2+/litre gas prices, interest rates, and economic woes. This is the 3rd lowest monthly price decrease of all time. We are now forecasting that the majority of the Fraser Valley Market continues to be in a Buyer's Market in the next coming months.
Currently, Both the Condo Markets and Townhouse Markets are in a Buyer's Market, with an Average Price decrease of ($10,062) and ($16,759) 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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