your current housing market conditions
Full package: https://www.fvreb.bc.ca/statistics/Package202305.pdf
MLS BENCHMARK PRICE ACTIVITY for MAY 2023 for *WHITE ROCK/SOUTH SURREY*
• Single Family Detached: At $1,915,400 the Benchmark price for a single-family detached home in the South Surrey/White Rock decreased 13.3% from $2,128,800 from May last year and increased 2.1% from last month in April ($1,876,900).
• Townhomes: At $960,400, the Benchmark price for a townhome decreased 6.7% from May last year ($1,053,000) and increased 1.9% compared to last month in April ($942,600).
• Apartments: At $626,000, the Benchmark price for apartments/condos decreased 3.2% from $646,500 compared to May last year, and increased 2.5% from $610,800 last month in April.
SALES FOR MAY 2023 (for *WHITE ROCK & SOUTH SURREY*)
Detached: 87 sales, down from 80 last month and down 40.3% from May last year (62)
Townhouses: 65 sales, down from 56 last month and down 10.2% from 59 last year in May.
Apartments: 79 sales, down from 83 last month and down 12.9% from May last year (70).
Call Joanne today, for a free
no obligation
Complete and Current Market Evaluation
778-227-1443
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.