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 be liable for loss or damage of any kind arising from the use of this tool.

FVRB News Release December 2, 2022

New Listings Lag as Fraser Valley Real Estate Market Sees 3rd Month of Declining sales

SURREY, BC — With sales down almost seven per cent from October, and new listings off by more than 20 per cent, the Fraser Valley housing market continues its slowing trend heading into the holiday season. Despite the market slowdown, opportunities are available, as evidenced by brisk turnover time frames.


In November, the Fraser Valley Real Estate Board (FVREB) processed 839 sales on its Multiple Listing Service® (MLS®), a 6.9 per cent decrease compared to October and a decrease of 57.5 per cent compared to November 2021.


“The trends we’ve seen over the past several months will likely continue through to year-end,” said Sandra Benz, President of the Fraser Valley Real Estate Board. “While rate hikes have effectively put many buyers and sellers in a holding pattern, we’re still seeing relatively quick turnover for all housing categories, indicating robust opportunities for properties that are strategically priced."


The Board received 1,703 new listings in November, a decrease of 22.1 per cent compared to October 2022 and a decrease of 18.8 per cent compared to last year. The month ended with a total active inventory of 5,330, a 5.5 per cent decrease compared to October, and 74.9 per cent more than November of last year.


“The market continues to tighten in response to rising interest rates,” said Board CEO Baldev Gill. “As a result, individuals are facing additional levels of uncertainty regarding the decision to buy or sell a home, underscoring the importance of seeking advice and guidance from a local REALTOR® to mitigate the risks involved."


Across Fraser Valley in November, the average number of days to sell a single-family detached home was 34 days and a townhome was 28 days. Apartments took, on average, 27 days to sell.


Full package: https://www.fvreb.bc.ca/statistics/Package202211.pdf


MLS BENCHMARK PRICE ACTIVITY for NOVEMBER 2022 for *WHITE ROCK/SOUTH SURREY*


• Single Family Detached:  At $1,849.800 the Benchmark price for a single-family detached home in the South Surrey/White Rock increased 1.7% from $1,818,500 from November last year and decreased 2.4% from last month in October ($1,895,900.


• Townhomes: At $917,000, the Benchmark price for a townhome increased 2.6% from November last year ($893,500) and decreased 0.7% compared to last month in October ($923,100).


• Apartments: At $578,000, the Benchmark price for apartments/condos increased 3.2% from $560,000 compared to November last year, and decreased 0.1% from $578,300 last month in October.



SALES FOR NOVEMBER 2022 (for *WHITE ROCK & SOUTH SURREY*)


Detached:         31 sales, down from 49 last month and down 74.2% from November last year (120) 
Townhouses:    43 sales, down from 44 last month and down 40.3% from 72 last year in November.
Apartments:      45 sales, down from 52 last month and down 50.5% from November last year (91).

 

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.  


The data relating to real estate on this website comes in part from the MLS® Reciprocity program of either the Real Estate Board of Greater Vancouver (REBGV), 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 REBGV, 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 REBGV, the FVREB or the CADREB.