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

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

North Surrey

In May 2016, there were 154 sales of detached homes and 292 active listings in North Surrey. The benchmark sale price was $853,600, an increase of 45.0% compared to May 2015.

The condo market had 119 sales, 348 active listings at the end of the month.  The benchmark sale price was $216,800.

In comparison, townhome sales were 34, active listings were 53 and the benchmark sale price was $289,400.

Listings are down. Sales are up. It’s a seller’s market.

MarketHotSheet_May2016_NSurrey

Surrey – Central

In the Surrey – Central market, there were 226 sales of detached homes and 541 active listings at the end of the month.  The benchmark sale price was $835,400.

In comparison, the condo market had 59 sales, 118 active listings, and the benchmark sale price was $226,800.

Townhome market featured 154 sales, 163 active listings and a $374,200 benchmark sale price.

MarketHotSheet_May2016_Surrey

White Rock/South Surrey

There were 205 sales, 423 active listings, and a $1,390,500 benchmark sale price for detached homes in the White Rock/South Surrey market.

The condo market featured 123 sales, 153 active listings and a benchmark sale price of $297,600 at the end of the month.

In comparison, townhome sales were 107, active listings were 62 and the benchmark sale price was $494,700.

Listings are down. Sales are up. It’s a seller’s market.

MarketHotSheet_May2016_WhiteRock

Langley

In the Langley market, the benchmark sale price was $820,900 for detached homes. At the end of May, there were 200 active listings and 222 sales, an increase of 25.4% compared with the same month in 2015.

The condo market had 109 sales and 119 active listings. The benchmark sale price was $229,400.

Townhome featured 116 sales, 108 active listings and a $386,500 benchmark sale price.

Listings are down. Sales are up. It’s a seller’s market.

MarketHotSheet_May2016_Langley

Abbotsford

In the Abbotsford market, there were 241 sales and 324 active listings for detached homes at the end of May. The benchmark sale price was $614,900.

The condo market featured 91 sales, 132 active listings and a $172,000 benchmark sale price.

In comparison, townhomes sales were 89, active listings were 93, and the benchmark sale price was $249,300.

Listings are down. Sales are up. It’s a seller’s market.

MarketHotSheet_May2016_Abbotsford

The followings are the summaries of the surrounding areas:

Cloverdale

MarketHotSheet_May2016_Cloverdale

North Delta

MarketHotSheet_May2016_NDelta

Mission

MarketHotSheet_May2016_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