your current housing market conditions

Joanne Taylor Personal Real Estate Corp.

Trusted, Reliable, Dedicated

778-227-1443

White Rock & South Surrey Realtor

Joanne Taylor

778-227-1443
604-538-8888
info@joannetaylorhomes.com

 

 

 

Awarded

Rotarian of the Year

Rotary Club of South Surrey

2013

 

 

Search Listings Now

Intuitive search tools that find the exact property that you are looking for.

Listings on the Go!

Take your home search with you, view listings from your mobile phone.

View How Now!

Mortgage Calculator

Purchase Amount: Down Payment:
Interest Rate: % Payment Interval:
Mortgage Term (Years)    
Closing Costs ($): Closing Costs (%):
Loan Amount:
Interest Rate:
Payment Interval:
Mortgage Term:
Payment:
Total Payments:
Total Amount Paid:
Total Interest Paid:
This calculator is for information purposes only. Users should not use this calculator to make any financial decisions and should speak with their bank or mortgage broker. The website owner does not guarantee the accuracy or reliability of any information or calculations provided by this calculator. The website owner is not liable for loss or damage of any kind arising from the use of this tool.

FVRB News Release March 4, 2024

Sales and listings Continue to Pick Up Heading into Spring

SURREY, BC — Home sales in the Fraser Valley posted a second consecutive bump in February as new listings continue to rise and trend slightly above the 10-year seasonal average.


The Fraser Valley Real Estate Board recorded 1,235 transactions on its Multiple Listing Service® (MLS®) in February, a 32 per cent increase over January but still 21 per cent below the 10-year average for sales in the region. New listings increased to 2,797 in February, up 18 per cent from January and 4 per cent above the 10-year average.


“There is somewhat of a buzz in the market right now,” said Narinder Bains, Chair of the Fraser Valley Real Estate Board. “We are seeing new listings come onto the market and REALTORS® continue to see more traffic at open houses, however buyers are still exercising caution. We aren’t out of the woods just yet, but the signs are pointing to a further increase in activity as we head into spring.”


Active listings in February were 5,561, up by 14 per cent over last month and up by 26 per cent over February 2023. With a sales-to-active listings ratio of 22 per cent, overall market conditions are edging into a seller’s market. The market is considered balanced when the ratio is between 12 per cent and 20 per cent.


“All indications suggest we will see the Bank of Canada’s overnight rate begin to decrease mid-year, which is encouraging for buyers and sellers,” said FVREB CEO Baldev Gill. “With that confidence and the spring market on the horizon, we recommend anyone looking to buy or sell to seek the knowledge and guidance of a professional REALTOR® who can provide detailed analysis and intimate knowledge of the local market.”


The average number of days homes are spending on the market is dropping, with single-family detached homes spending 35 days on the market, down from 44 days in January, apartments spending 29 days on the market, down from 41 days in January and townhomes moving more quickly at 28 days, down from 33 days on the market in January.


After six months of decreases, overall Benchmark prices posted a slight bump in February, edging up 0.9 per cent from January and up 4.8 per cent over February 2023.


Full package: https://www.fvreb.bc.ca/statistics/Package202402.pdf


MLS BENCHMARK PRICE ACTIVITY for FEBRUARY 2024 for *WHITE ROCK/SOUTH SURREY*


• Single Family Detached:  At $1,867,100, the Benchmark price for a single-family detached home in the South Surrey/White Rock increased 5.5% from $1,788,800 from February last year and increased 0.1% from last month in January ($1,885,900).


• Townhomes: At $952,200, the Benchmark price for a townhome increased 6.2% from February last year ($896,200) and increased 0.5% compared to last month in January ($947,300).


• Apartments: At $608,700, the Benchmark price for apartments/condos increased 5.9% from $575,600 compared to February last year, and increased 0.5% from last month in January ($606,200).



SALES FOR FEBRUARY 2024 (for *WHITE ROCK & SOUTH SURREY*)


Detached:         56 sales, up 64.7% from 34 last month and up 5.7% from February last year (53) 
Townhouses:     45 sales, up from 38 last month and up 12.5% from 40 last year in February.
Apartments:      68 sales, up 36% from 50 last month and up 36% from February last year (50).




 

Call Joanne today, for a free

no obligation

Complete and Current Market Evaluation

778-227-1443


 

The Importance of Market Data


One of the most important marketing tools Joanne uses in pricing and marketing a property is market statistics.  This information includes comparisons between ‘listed’ properties (properties currently for sale) and ‘sold’ properties (properties that sold within a one-month period).


These comparisons are generated at the end of every month by the Multiple Listing Service® and are not available to the public.  These reports help to determine the Current Market Conditions affecting your specific neighbourhood.

 
The “Sales-To-Actives Ratio” tells the percentage of inventory that is selling in a given month (sales for the month divided by the Active Listings = the per centage of homes that are selling). This provides a better idea of the sense of balance between total supply and demand. 


To determine the type of Market, if 11 to 20 per cent of inventory is selling (with give & take), the market is balanced.  A Seller's Market is when more than 20 per cent is selling, and when it's less than 11 per cent the reverse is the case and buyers have the upper hand.  


Reciprocity Logo The data relating to real estate on this website comes in part from the MLS® Reciprocity program of either the Greater Vancouver REALTORS® (GVR), the Fraser Valley Real Estate Board (FVREB) or the Chilliwack and District Real Estate Board (CADREB). Real estate listings held by participating real estate firms are marked with the MLS® logo and detailed information about the listing includes the name of the listing agent. This representation is based in whole or part on data generated by either the GVR, the FVREB or the CADREB which assumes no responsibility for its accuracy. The materials contained on this page may not be reproduced without the express written consent of either the GVR, the FVREB or the CADREB.