|How’s the market???|
|How’s the Market???
Sales were down -35% between the months of July and August, and an additional -29% between August and September.
Average Days on Market JUMPED 91% from 32 to 61.
Average sale price is $1,375,000 in South Surrey / White Rock.
It’s a BUYER’S MARKET with only 36 out of 637 homes selling in the past month (6%) in South Surrey/ White Rock. Down from 8% from last month. Note, anything below 11% is a Buyer’s Market.
Homes are selling on average 4% BELOW CURRENT list price (keep in mind, that’s not necessarily the original list price).
This month, the most ACTIVE band of activity of detached houses are the ones priced between $800,000 – $900,000 (80% selling ratio). 4 out of 5 sold.
The SLOWEST band of activity of detached houses are the ones priced between $1,250,000 – $1,500,000 (2% selling ratio). 3 out of 123 sold.
SLOWEST selling areas are Elgin, Grandview and Morgan Creek, Crescent Beach/OP (BUYER’s BEST BETS). These neighbourhoods were tied at 4% selling rate.
FASTEST selling area is Pacific Douglas and Sunnyside (SELLER’S BEST BETS), with a balanced 14% selling rate. 5 out of 134 Ocean Park/ Crescent Beach Homes Sold this past month.
Full Report available at FVR 2018 September.pdf
Source: Fraser Valley Real Estate Board
~ JOEL ROSS ~