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December 2018 - Surrey Market Update

The numbers are out and the FVREB area remains slow compared to last year. In fact, the number of sales remains down by about 40%. The biggest surprise to us was in the condo category, as the benchmark price dropped 2.8% since last month. This is the largest decrease of the three property types, but should not be too much of a shock as apartments saw the largest increase in 2017/2018.

Outside of the statistics, our team has seen a recent surge of buyers starting the process with pre-approvals and making offers. This is typical of the time of year as many people view December as a time to prepare for a new start, in the New Year, and in the spring market.

Make sure to watch the whole video update as Steve has a tip regarding the New Year and January 2nd in particular.

Benchmark Prices: (Surrey Combined)

? Detached = $1,076,600 ⬇️
? Townhomes = $580,800 ⬇️
? Condos = $441,800 ⬇️

For the complete stats package, please visit http://www.fvreb.bc.ca/stats/