Interest Rate to 3.25% - August Market Update


The Bank of Canada raised interest rates again. This time up .75% to hit 3.25%, with another raise expected next month as well.

Today Leah looks at the stats for the month of August for South Surrey & White Rock and also shows you two Sims Blue listings that are both listed for $599,000.

In the month of August 54 Condos sold (down 45.5% over August 2021)
For Benchmark pricing…
- Condos are up 16.8% over August 2021
- Down 1.6% since July this year
- Benchmark price sits at $609,900

In the month of August 55 Townhouses sold (down 23.6% over August 2021)
For Benchmark pricing…
- Townhouses are upn13.1% over August 2021
- Down 2.3% since July this year
- Benchmark price is $939,300

In the month of August 41 houses sold (down 66.7% over August 2021)
For Benchmark pricing…
- Single Family Detached homes are up 13.2% over August of last year
- Down 2.9% since July this year
- Benchmark price is now under 2 million and is $1,954,000.