October 2018 Newsletter

Joel Ross
Published on October 13, 2018

October 2018 Newsletter

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 ~
Personal Real Estate Corporation
RE/MAX Colonial Pacific Realty

October 2018 Newsletter
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