The BC Home Hunter Group - White Rock & South Surrey, May Update

(May 20, 2014 )

THE BC HOME HUNTER GROUP - White Rock and South Surrey Market Update. 

Our analysis shows this market is Stable with the average listing inventories currently at a 15 %SOLD rate and a 95% Sell to List Ratio (this means that there is an average of a $43,000 discount on a sale from the original list price).
Most Active Range: : Homes between $900,000-$1 Million have a 26.4 %SOLD rate.
Least Active Range: Homes above $2 Million have a 4.3 %SOLD rate.

THE BC HOME HUNTER South Surrey and White Rock Year-To-Date Home Price Index (Top 50%) shows that prices increased $95,679.
THE BC HOME HUNTER South Surrey and White Rock Year-To-Date Home Price Index (Lower 50%) shows that prices increased $25,904.

THE BC HOME HUNTER GROUP MARKET FORECAST –
White Rock and South Surrey has an average Listing supply; 780 homes are for currently for sale with a stable 15 %SOLD monthly rate giving us 7 months of inventory. At the current sell through rate approximately 490 of these listings will not sell. THE BC HOME HUNTER GROUP trickledown economics shows 12% of the active listings have reduced their listing price by $79,575 on average or $51,000 median for the last month. 

The Fraser Valley Real Estate Market has been experiencing a continued Stable-Strong Market in 2014 in both the Top 50% and the Low 50% of the market areas. The Fraser Valley is a more Local Employment and Job Dependent Marketplace.

British Columbia’s potential Mega Development projects (LNG etc.) are excellent economic news. THE BC HOME HUNTER GROUP’S in house real estate analyst is projecting most Fraser Valley Markets to see increased activity with modest price increases. Our real estate company is forecasting White Rock and South Surrey to be a continued Stable market. If you have longed to move to another community, or create income through rental properties, now might be your best chance to do so.

Call or email our passionate real estate team to discuss Buying and Selling your home or property today.

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