Surrey, Langley and Fraser Valley Real Estate Market Statistics – August 2016

Here are the latest real estate market statistics from Macdonald Realty on Surrey, White Rock, Langley, and Fraser Valley listings and sales in August 2016.

North Surrey

In August 2016, there were 59 sales of detached homes and 389 active listings in North Surrey. The benchmark sale price was $886,000.

The condo market had 114 sales, 239 active listings at the end of the month.  The benchmark sale price was $232,200.

In comparison, townhome sales were 35, active listings were 56 and the benchmark sale price was $336,400.

It’s a buyer’s market for single family homes.

MarketHotSheet_August2016_NSurrey

Surrey – Central

In the Surrey – Central market, there were 91 sales of detached homes and 678 active listings at the end of the month.  The benchmark sale price was $897,200.

In comparison, the condo market had 42 sales, 88 active listings, and the benchmark sale price was $234,200.

Townhome market featured 122 sales, 205 active listings and a $433,500 benchmark sale price.

It’s a buyer’s market for single family homes.

MarketHotSheet_August2016_Surrey

White Rock/South Surrey

There were 66 sales, 534 active listings, and a $1,495,800 benchmark sale price for detached homes in the White Rock/South Surrey market.

The condo market featured 69 sales, 133 active listings and a benchmark sale price of $344,000 at the end of the month.

In comparison, townhome sales were 43, active listings were 105 and the benchmark sale price was $558,800.

It’s a buyer’s market for single family homes.

MarketHotSheet_August2016_WhiteRock

Langley

In the Langley market, the benchmark sale price was $883,600 for detached homes. At the end of August, there were 270 active listings and 124 sales.

The condo market had 91 sales and 82 active listings. The benchmark sale price was $258,300.

Townhome featured 78 sales, 120 active listings and a $434,700 benchmark sale price.

It’s a seller’s market in Langley.

MarketHotSheet_August2016_Langley 

Abbotsford

In the Abbotsford market, there were 118 sales and 331 active listings for detached homes at the end of August. The benchmark sale price was $667,800.

The condo market featured 95 sales, 131 active listings and a $192,300 benchmark sale price.

In comparison, townhomes sales were 57, active listings were 84, and the benchmark sale price was $293,100.

It’s a seller’s market in Abbotsford.

MarketHotSheet_August2016_Abbotsford

The followings are the summaries of the surrounding areas:

Cloverdale

MarketHotSheet_August2016_Cloverdale

North Delta

MarketHotSheet_August2016_NDelta

Mission

MarketHotSheet_August2016_Mission

Looking for more information about the real estate market in specific neighbourhoods in Surrey, Langley and Fraser Valley

Macdonald Realty has offices in Surrey, White Rock/South Surrey, and Langley.  Please email macrealty@macrealty.com or call 1-877-278-3888 to be matched with a REALTOR® working in your area.

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MLS® Home Price Index (HPI) Benchmark Price

Average and median home prices are often misinterpreted, are affected by change in the mix of homes sold, and can swing dramatically from month to month (based on the types and prices of properties that sold in a given month). The MLS® HPI overcomes these shortcomings and uses the concept of a benchmark home, a notional home with common attributes of typical homes in a defined area. Visit www.housepriceindex.ca for more information.

This blog post is based on market data provided by the Fraser Valley Real Estate Board (FVREB) www.fvreb.bc.ca