Here are the latest real estate market statistics from Macdonald Realty on Surrey, White Rock, Langley, and Fraser Valley listings and sales in July 2016.
In July 2016, there were 71 sales of detached homes and 396 active listings in North Surrey. The benchmark sale price was $889,500, an increase of 45.8% compared to the same month last year.
The condo market had 112 sales, 285 active listings at the end of the month. The benchmark sale price was $224,900.
In comparison, townhome sales were 41, active listings were 52 and the benchmark sale price was $323,600.
Surrey – Central
In the Surrey – Central market, there were 130 sales of detached homes and 652 active listings at the end of the month. The benchmark sale price was $887,800.
In comparison, the condo market had 37 sales, 96 active listings, and the benchmark sale price was $228,300.
Townhome market featured 116 sales, 196 active listings and a $422,600 benchmark sale price.
White Rock/South Surrey
There were 118 sales, 510 active listings, and a $1,491,000 benchmark sale price for detached homes in the White Rock/South Surrey market.
The condo market featured 92 sales, 142 active listings and a benchmark sale price of $329,700 at the end of the month.
In comparison, townhome sales were 48, active listings were 93 and the benchmark sale price was $540,700.
In the Langley market, the benchmark sale price was $873,300 for detached homes. At the end of July, there were 247 active listings and 133 sales.
The condo market had 88 sales and 97 active listings. The benchmark sale price was $250,600.
Townhome featured 99 sales, 93 active listings and a $426,600 benchmark sale price.
In the Abbotsford market, there were 174 sales and 323 active listings for detached homes at the end of July. The benchmark sale price was $653,800.
The condo market featured 94 sales, 147 active listings and a $185,200 benchmark sale price.
In comparison, townhomes sales were 52, active listings were 73, and the benchmark sale price was $286,400.
Listings are down. Prices are up. It’s a seller’s market.
The followings are the summaries of the surrounding areas:
Looking for more information about the real estate market in specific neighbourhoods in Surrey, Langley and Fraser Valley?
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