October Market Update - a Balanced Market

Welcome to Fall

We had a slow September in the Fraser Valley and South Surrey/White Rock when it comes to home sales. In South Surrey/White Rock a total 36 detached homes sold, 36 townhouses and 49 condos. Sales were down 51.9% from this time last year. 
October, on the other hand, seems to be picking up. In the past week, we have had quite a bit of action for our buyers and sellers and are happy to report some recent sales! 

This edition includes: 
  • Fraser Valley Housing Market Stats
  • Featured + Sold Listings 
  • Article: David Eby's affordable housing plan proposes flipping tax, legalization of secondary suites
  • Community Events

Thank you for reading! 

Derrick, Ryan, Leah, and Brian 

Fraser Valley real estate market continues to stabilize heading into fall season

SURREY, BC – Continued slowing sales and a slight rise in inventory in September combined to bring greater stability to the Fraser Valley housing market.In September, the Fraser Valley Real Estate Board (FVREB) processed 897 sales on its Multiple Listing Service® (MLS®), a decrease of 11.8 per cent compared to last month and a 51.9 per cent decrease compared to this time last year.The Board received 2,273 new listings in September, an increase of 11.1 per cent compared to August, and only 2.9 per cent less than September 2021. The month ended with a total active inventory of 5,805, a decrease of 1.1 per cent from last month but up by 52.3 per cent compared to September 2021. Once again, September saw a balanced market in the Fraser Valley with an overall sales-to-active ratio of 15 per cent (the market is considered balanced when the sales-to-active ratio is between 12 per cent and 20 per cent). Continue reading HERE

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