Current: East Surrey is in a Seller's Market with 21 %SOLD rate, 21 DOM and 98% Sell/List Ratio. (This means that there is an average (m) of a $24,900 discount from the original list price)
Most Active Range: Homes below $800,000 have 52.9 %SOLD rate.
Least Active Range: Homes above $1.5 mill. have 11.4 %SOLD rate.
History: The Surrey East Year-To-Date Home Price Index HPIp (Top 50%) shows that prices increased $122,245.
The Surrey East Year-To-Date Home Price Index HPIp (Lower 50%) shows that prices increased $91,385.
*The HPIp (Home Price Index) is an approximate reflection of the Average Home Price Changes.
Forecast: East Surrey has an average Listing Supply; 266 homes are for sale and with the 21 %SOLD monthly rate gives us 5 months of inventory. 4% of the active listings have reduced their price by $34,072 on average or $30,000 on median in the last month. We project East Surrey to be a continued seller's market.
April's Real Estate Statistics shows 57% of Vancouver's Detached Markets decreased values this last month. Overall, Single Family Homes in Metro Vancouver experienced an Average Monthly Price increase of $4,857 which is an improvement over the $2,135 decrease that we saw in the month prior. On the Average Fraser Valley continues to show a much stronger Market with their $13,418 monthly increase. With many new foreign buyer taxes, the much tougher mortgage lending rules, the higher interest rates, pending trade tariffs, we are forecasting a Buyer's Market across all the High-End Detached Markets and a stabilizing of the Lower-End Detached Markets
Currently, the Condo Market is turning from Hot to a warm market, with 67% of the Greater Vancouver (Lower Mainland) still increasing. 75% of the Townhouse Markets are still increasing (21 out of 28 Markets). There is a Notable difference between the top 50% of the attached markets which are stabilizing over the much stronger bottom 50% of the markets which can see multiple offers. We are forecasting a stabilizing Market in the lower end Condo/Townhouse Markets for the following 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 Neighbourhood.