METRO VANCOUVER

Sales slide continues; condo market shows biggest slow down; robust inventory

Continuing the steady and significant decline in Metro Vancouver’s home sales in recent months, September saw an 8.1% drop from August, registering 1,717 sales. The slide has been about the same for each of the past three months. August sales reached 1,869  down 9.3% from July ‘s total of 2,061. On an annual comparison, September’s figure was an 8.4% decrease from the same month last year. It was also 25% below the 10-year seasonal average. A deeper dive into Metro Vancouver’s residential market has shown that has shown that the sales slump is not uniform across all property types. In particular, the condominium segment has shown the greatest contraction in sales volume, where the majority of all sales has been concentrated in recent years. As reported widely in the media, the previous high demand in the rental sector has fallen off with a notable drop in rental prices at the same time. Given a combination of the previous surge in condo building construction and the federal government’s constraint on Canada’s immigration, including a drop in permanent resident admissions, a drop in the non-permanent resident population as well as study permits, and an actual contraction in Canada’s overall population, this housing segment reflects an outsized part of the overall decline in residential sales. Beyond the condominium market, the Greater Vancouver Real Estate Board notes that sales of detached and attached home (townhouses) showed a slight increase from last September. In addition to the sales decline, new listings in September were also down from the previous month, a 10.3% drop from the same period one year ago. However, the 5,852 new listings in September were 5.7% above the 10-year season average, and left Metro Vancouver’s total inventory at the end of September at 16,394. This is 24.3% above the 10-year season average, offering prospective buyers an excellent choice of homes with prices generally down across all property types. At the end of September, the composite benchmark price for a residential property in Metro Vancouver was $1,075,900, a 0.5% decline from the previous month.

 I invite you to review my monthly selection of comparative benchmark prices across Metro Vancouver in the section below. The month-over-month price change is also provided, as this is typically a  reflection of the relative market activity in the neighborhood. For each property type, there is an overall benchmark price with a cluster of the closest average prices on each side of benchmark price. Remember that benchmarks are that averages so you may find an actual price listing that is closer to your budget. The range of prices making up the average will allow you to better assess if a specific price may be found that is more attractive to you. If you would like to explore a particular neighbourhood, please let me know. I can provide you with the most up-to-date information on current listings. And if you are considering selling your home, I can prepare a Customized Market Analysis for your property and advise you on the optimal listing price is the current market conditions. Please feel free to call. I love to help my clients in any way I can.

Detached homes

The benchmark price for a single-family detached home in Metro Vancouver at the end of September was $1,784,700, a decrease of 0.8% from the preceding month. The range of this average extends from $2,916,100 in Vancouver West to $853,300 on the Sunshine Coast. The three municipalities closest to the benchmark on the higher side of the average were: Burnaby North at $1,871,100, a decrease of 0.4% from the preceding month; Richmond at $1,887,800, a decrease of 2.8% from the preceding month; and Burnaby South at $1,894,600, an increase of 0.4% from the preceding month. The three municipalities closest to the benchmark on the lower side of the average were: Burnaby East at $1,694,900, no change from the preceding month; Vancouver East at $1,630,500, an increase of 0.6% from the preceding month; and Squamish at $1,614,600, an increase 1.4% from the preceding month.

Townhouses

The benchmark price for a townhouse in Metro Vancouver at the end of September was $1,016,700, a decrease of 1.2% from the preceding month. The range of this average extends from $1,695,400 in Whistler to $700,800 in Maple Ridge. The three municipalities closest to the benchmark on the higher side of the average were: Richmond at $1,025,000, an increase of 0.3% from the preceding month; North Vancouver at $1,230,400, a decrease of 1.4% from the preceding month; and Vancouver West at $1,298,500, a decrease of 2.7% from the preceding month. The three municipalities closest to the benchmark on the lower side of the average were: Squamish $1.01,200, an increase of 0.1% from the preceding month; Vancouver East at $980,400, a decrease of  0.5% from the preceding month; and Coquitlam at $976,600, a decrease of 1.2% from the preceding month.

Condominiums           

The benchmark price for a condominium in Metro Vancouver at the end of September was $682,500, a decrease of 0.5% from the preceding month. The range of this average extends from $1,097,300 in West Vancouver to $461,000 on the Sunshine Coast. The three municipalities closest to the benchmark on the higher side of the average were:  Burnaby East at $708,100, an increase of 0.1% from the preceding month; Burnaby South at $723,000, a decrease of 1.2% from the preceding month; and Vancouver West at $761,800, a decrease of 1.7% from the preceding month. The three municipalities closest to the benchmark on the lower side of the average were: Port Moody at $676,200, a decrease of 0.6% from the preceding month; Burnaby North at $662,400, a decrease 1.1% from preceding month; and Coquitlam at $646,100, a decrease of 0.9% from the preceding month.

Let me help

There are many ways I can help you with your real estate transactions. Please let me know how I can help in these challenging times. You may need help in managing your home ownership plans, or in adjusting your financial strategy for a home purchase. Perhaps you are thinking of listing your home for sale and want to understand the market to set your asking price. Let me help. I have a post-graduate education in business along with years of experience in both banking and real estate. I am happy to help in any way I can. I want my clients to achieve their goals. Please don’t hesitate to call me.

FRASER VALLEY

Slow sales continue into autumn; fixed mortgage rates rise; prices softening

The Fraser Valley’s trending residential sales decline eased up in September, though still showing a slight decline. The Valley’s 941 home sold  last month amounted to 2.0% drop from the preceding month, following August’s steep 14% decline. September was also 4.0% below the same month one year ago. The autumn slow down comes as no surprise following a subdued summer as many  prospect buyers remain on the sidelines in an increasingly uncertain economic climate. As Canada races to fortify its economy against the onslaught of US tariffs, there are clouds on the immediate horizon for many small businesses as well a looming bleak outlook for increased unemployment. September marked the second consecutive month of an employment contraction, with a net loss of 68,000 jobs following 42,000 jobs lost in August, bringing the national unemployment rate to 6.5%. The weaking labour market takes some pressure off inflation, and the Bank of Canada maintains its policy rate at 2.25% while core inflation remains in the central bank’s target range of 2.0%. However, the Canada’s commercial banks have already raised their fixed mortgage rates, rising above the 4% level, moving ahead of the Bank of Canada’s next rate announcement scheduled for October 28. Five-year variable rates, linked to the central bank’s policy rate, are still available in a range of 3.5% to 4.5%. But there is currently no consensus among Canada’s large commercial banks on the economic outlook through 2027. For prospective home buyers, the Fraser Valley remains a buyer’s market, where it has been for the past two years, so there are excellent purchase opportunities at this time. New listings in September were up in 19% in September over August, with 2,818 newly listed homes bringing the total inventory at the end of September to 9,763. This is 31% above the 10-year seasonal average, making for an excellent selection of homes across all property types. Valley prices have also continued to decline, and buyers can find much greater affordability now with prices 7% lower than one year ago. At the end of September, the combined benchmark price for a residential property in the Fraser Valley was $861,300, a 1.0% decline from the preceding month.

In the section below, I present my monthly guide to benchmark prices in different areas of the Fraser Valley. Along with the overall benchmark average price for each property type, you will find a cluster of the three closest benchmark prices on each side average in different geographical areas. Monthly price fluctuations serve as indication of typical changes arising from recent sales activity. You should remember, however, that benchmarks are averages. I can provide you with the most up-to-date price listings for any neighbourhood, so b please give me call if you are interested in exploring any particular neighbourhood. And if you are considering listing your home for sale, I can prepare a Customized Market Analysis and advise you on the optimal listing price in the current market conditions. Across the Fraser Valley in September, the average number of days to sell a single-family detached home was 45 days; for condominiums, it was also 46 days; townhouses  sold on an average of 38 days.

Detached Homes

The benchmark price for a detached home in the Fraser Valley at the end of September was $1,300,000, a decrease of 1.5% from the preceding month. The range of the average extended from $1,612,500 in South Surrey/White Rock to $889,200 in Mission. The three municipalities closest to the benchmark on the higher side of the average were: Surrey at $1,304,100, a decrease of 1.4% from the preceding month; Cloverdale at $1,317,200, a decrease of 1.7% from the preceding month; and Langley at $1,471,100, a decrease of 0.6% from the preceding month. The three municipalities closest to the benchmark on the lower side of the average were: North Surrey at $1,252,600, a decrease of 0.8% from the preceding month; North Delta at $1,159,600, a decrease of 2.3% from the preceding month; and Abbotsford at $1,087,000, a decrease of 2.7% from the preceding month.

Townhouses

The benchmark price for a townhouse in the Fraser Valley at the end of September was $745,300, a decrease of 0.7% from the preceding month. The range of this average extends from $802,600 in Langley to $592,600 in Abbotsford. The three municipalities closest to the benchmark on the higher side of the average were: Surrey at $1,304,100, a decrease of 1.4% from the preceding month; Cloverdale at $754,300, an increase of 0.4% from the preceding month; and South Surrey/White Rock $797,100, a decrease of 2.8% from the preceding month. The three municipalities closest to the benchmark on the lower side of the average were: North Surrey at $780,400, a decrease of 0.2% from the preceding month; Mission at $618,000, a decrease of 0.6% from the preceding month; and Abbotsford at $592,600, a decrease of 0.7% from the preceding month.

Condominiums

The benchmark price for a condominium in the Fraser Valley at the end of September was $461,800, a decrease of 0.9% from the preceding month. The range of the average was from $525,900 in South Surrey/White Rock to $370,200 in Abbotsford. The three municipalities closest to the benchmark on the higher side of the average were: North Delta at $479,100, a decrease of 1.3% from the preceding month; Cloverdale at $506,700, an increase of 0.2% from the preceding month; and Langley at $525,900, a decrease of 1.5% from the preceding month. The three municipalities closest to the benchmark on the lower side of the average were: Surrey at $460,200, a decrease of 0.6% from the preceding month; Mission at $411,500, a decrease of 0.7% from the preceding month; and North Surrey at $398,900, a decrease of 0.6% from the preceding month.

I can help

There are many ways I can help you with your real estate transactions. Please let me know how I can help in these challenging times. You may need help in managing your home ownership plans, or in adjusting your financial strategy for a home purchase. Perhaps you are thinking of listing your home for sale and want to understand the market to set your asking price. Let me help. I have a post-graduate education in business along with years of experience in both banking and real estate. I am happy to help in any way I can. I want my clients to achieve their goals. Please don’t hesitate to call me.

METRO VAN

Sales decline continues; prices downward; fixed mortgage rates rise

Metro Vancouver ‘s residential sales dropped sharply again in August with a 9.3% decline from the preceding month. It was the second consecutive month with steep declines, following a 13.7% month-over- month drop this past July. The slow-down has been evident since last May, with August’s total sales 3% lower than the same period last year, but notably 20.7% below the 10-year seasonal average. Yet, the market is not short on sellers. New listings last month reached 4,100 across all property types, close to the ten-year seasonal average – an indicator that buyers are holding off on purchase decisions for other reasons:  in all likelihood because of macro-economic factors arising from international conflicts. However, in this period of economic uncertainty, there are many excellent opportunities that eligible buyers should note. At the end of August, Metro Vancouver’s inventory of available homes across all property types was an appealing 15,798 home. While this total was lower than one year ago by 2.7%, it was still 26% above than the 10 year seasonal average. In the current economic climate, prospective home buyers should also note that fixed rate mortgages – based on bond yields, not the Bank of Canada policy rate – are now rising. At the time of writing, Ratehub.ca’s best 5- and 10-year fixed (insured) mortgage rates were 4.09% and 5.40% respectively. A 5-year variable rate on Ratehub.ca  (following the Bank of Canada’s hold on its policy rate at 2.25% on September 2) was 3.30%, an attractive borrowing rate in the present market. In addition, the large selection of homes in Metro Vancouver combined with the current softening demand is creating excellent buying opportunities at this time. Home prices have now dropped on average close to 6% from one year ago. At the end August, the composite benchmark price for a residential property in Metro Vancouver was $1,081,900, a 0.6% decrease from the preceding month    

Please review my selection below of comparative benchmarks across Metro Vancouver for the past month. You will find, for each property type, an the overall benchmark price with a cluster of the three closest average prices on each side of the benchmark average. The month-over-month price is also provided. It is typically a  reflection of the relative market activity in the neighborhood. The range of prices making up the average will allow to better assess if there might be a specific price that is attractive to you among the number of homes composing the average. It is important to remember that benchmarks are averages. If you would like to explore a particular neighbourhood, please let me know. I can provide you with the most up-to-date information on current listings. And if you are considering selling your home, I can prepare a Customized Market Analysis for your property and advise you on the optimal listing price is the current market conditions.  Pleas feel free to call. I love to help my clients in any way I can. 

Detached homes

The benchmark price for a single-family detached home in Metro Vancouver at the end of August was $1,799,400,900, a decrease of 1.3% from the preceding month. The range of this average extended from $2,932,700 in Vancouver West to $830,800 on the Sunshine Coast. The three municipalities closest to the benchmark on the higher side of the average were: Pitt Meadows at $1,188,900, a decrease of 1.7% from the preceding month; Burnaby South at $1,887,800, a decrease of 1.7% from the preceding month; and Burnaby North at $1,816,500, a decrease of 2.2% from the preceding month. The three municipalities closest to the benchmark on the lower side of the average were: Burnaby East at $1,694,900, a decrease of 1.1% from the preceding month; Vancouver East at $1,621,400, a decrease of 1.3% from the preceding month; and Coquitlam at $1,188,900, a decrease 1.7% from the preceding month.

Townhouses

The benchmark price for a townhouse in Metro Vancouver at the end of August was $1,028,800, a decrease of 0.1% from the preceding month. The range of this average extended from $1,069,700 in Whistler to $704,100 in Maple Ridge. The three municipalities closest to the benchmark on the higher side of the average were: North Vancouver at $1,247,700, an increase of 0.8% from the preceding month; Vancouver West at $1,334,900, an increase of 1.1% from the preceding month; and Whistler at $1,690,700, an increase of 1.9% from the preceding month. The three municipalities closest to the benchmark on the lower side of the average were: Richmond at $1,022,200, a decrease of 1.3 from the preceding month; Squamish at $1,009,100, an increase of 1.0 from the preceding month; and Vancouver East at $985,400, a decrease of 2.3% from the preceding month.

Condominiums           

The benchmark price for a condominium in Metro Vancouver at the end of August was $686,200, a decrease of 0.2% from the preceding month. The range of this average extended from $1,122,600 in West Vancouver to $440,100 on the Sunshine Coast. The three municipalities closest to the benchmark on the higher side of the average were:  Burnaby East at $707,600, a decrease of 0.8% from the preceding month; Burnaby South at $731,500 a decrease of 1.4% from the preceding month; and North Vancouver at $770,300, a decrease of 2.0% from the preceding month. The three municipalities closest to the benchmark on the lower side of the average were: Port Moody at $680,200, a decrease of 1.2% from the preceding month; Burnaby North at $669,700, a decrease 0.5% from preceding month; and Coquitlam at $646,100, a decrease of 0.8% from the preceding month.

Let me help

There are many ways I can help you with your real estate transactions. Please let me know how I can help in these challenging times. You may need help in managing your home ownership plans, or in adjusting your financial strategy for a home purchase. Perhaps you are thinking of listing your home for sale and want to understand the market to set your asking price. Let me help. I have a post-graduate education in business along with years of experience in both banking and real estate. I am happy to help in any way I can. I want my clients to achieve their goals. Please don’t hesitate to call me.  

FRASER VALLEY

Steep drop in sales; plentiful inventory; significant price reductions   

Fraser Valley sales registered steep month-over-month decline of 13.6% in August. The 941 sales across all property types was slightly above the same month last year, but it marks the last full month of summer as a slow sales year overall for the market. As a buyer’s market, the Fraser Valley continues to offer considerable leverage to buyers prepared to negotiate even further price reductions with some sellers even as softening demand has seen prices sliding downward throughout the summer. For those prospective buyers looking for an opportune purchase, the Valley’s inventory of available homes still remains strong, with 9,787 listed homes across all property types at the end of August. However, the replenishment of the supply has also trended downward, now 15% lower than one year ago. August’s new listings reached 2,373, a 16% decline from the previous month, and 15% below the same period last year. Notably, however, the current inventory is still 33% above the 10-year seasonal average. As international tensions are continuing to create economic uncertainty, Canada’s financial markets are precariously caught between potential price inflation and higher energy costs arising from the Canada-U.S. trade war and the U.S. war on Iran. This past September 2, the Bank of Canada chose to hold its policy rate at 2.25% for the seventh consecutive announcement over the past nine months. As noted here previously, this relatively low rate is keeping variable rate mortgages relatively low, but it is the bond market that impacts fixed mortgage rates directly. Bond yields rise with investors seeing global tensions increasing.  Ratehub.ca in early September showed the lowest 5-year fixed (insured) mortgage rate at 4.44%, while the lowest 5-year variable (insured) mortgage rate was at 3.30%. Fraser Valley home prices have also declined, adding the buyers’ incentives to take advantage of current purchase opportunities. Valley prices are now more than 15% lower than three years ago. At the end of August, the combined benchmark price for residential property in the Fraser Valley was $869,900, a 0.9% decline from the preceding month.  

I invite you to review my monthly guide below to comparative benchmark prices. It provides the overall benchmark price for each property type in a selection of areas across the Fraser Valley. You will find a cluster of the three closest benchmark prices on each side the overall average in different geographical areas. Monthly price fluctuations serve as indication of typical changes arising from recent sales activity. You should remember, however, that benchmarks are averages. I can provide you wity the most up-to-date price listings for any neighbourhood, so b please give me call if you are interested in exploring any particular neighbourhood.  And if you are considering listing your home for sale, I can prepare a Customized Market Analysis and advise you on the optimal listing price in the current market conditions. Across the Fraser Valley in August, the average number of days to sell a single-family detached home was 45 days; for condominiums, it was also 45 days; townhouses  sold on an average of 37 days.  

Detached Homes

The benchmark price for a detached home in the Fraser Valley at the end of August was $1,319,600, a decrease of 1.2% from the preceding month. The range of the average extended from $1,649,200 in South Surrey/White Rock to $892,700 in Mission. The three municipalities closest to the benchmark on the higher side of the average were: Surrey at $1,322,800, a decrease of 0.2% from the preceding month; Cloverdale at $1,339,700, a decrease of 1.1% from the preceding month; and Langley at $1,479,400, a decrease of 0.2% from the preceding month. The three municipalities closest to the benchmark on the lower side of the average were: North Surrey at $1,262,400, a decrease of 0.2% from the preceding month; North Delta at $1,186,400, a decrease of 2.2% from the preceding month; and Abbotsford at $1,117,700, an increase of 2.2% from the precedings month.

Townhouses

The benchmark price for a townhouse in the Fraser Valley at the end of August was $750,600, a decrease of 0.9% from the preceding month. The range of this average extended from $820,300 in South Surrey/White Rock to $596,600 in Abbotsford. The three municipalities closest to the benchmark on the higher side of the average were: Cloverdale at $757,200, a decrease of 0.7% from the preceding month; Langley at $820,300, a decrease of 0.6% from the preceding month; and South Surrey/White Rock $820,300, a decrease of 1.7% from the preceding month. The three municipalities closest to the benchmark on the lower side of the average were: Surrey at $748,000, a decrease of 0.7% from the preceding month; North Surrey at $681,400, a decrease of 0.7% from the preceding month; and Mission at $621,700, a decrease of 1.4% from the preceding month.

Condominiums

The benchmark price for a condominium in the Fraser Valley at the end of August was $466,100, a decrease of 0.7% from the preceding month. The range of the average was from $550,800 in South Surrey/White Rock to $374,600 in Abbotsford. The three municipalities closest to the benchmark on the higher side of the average were: North Delta at $485,100, a decrease of 2.2% from the preceding month; Cloverdale at $505,700, a decrease of 0.2% from the preceding month; and Langley at $534,000, no change from the preceding month. The three municipalities closest to the benchmark on the lower side of the average were: Surrey at $462,800, a decrease of 2.4% from the preceding month; Mission at $414,600, a decrease of 2.7% from the preceding month; and North Surrey at $401,400, a decrease of 1.7% from the preceding month.

I can help

There are many ways I can help you with your real estate transactions. Please let me know how I can help in these challenging times. You may need help in managing your home ownership plans, or in adjusting your financial strategy for a home purchase. Perhaps you are thinking of listing your home for sale and want to understand the market to set your asking price. Let me help. I have a post-graduate education in business along with years of experience in both banking and real estate. I am happy to help in any way I can. I want my clients to achieve their goals. Please don’t hesitate to call me.  

Sales decline; buyer’s market continues; inventory remains strong

Home sales in the Fraser Valley in July posted a month-over-month decline of 5% with a total of 1,089 properties sold in the month. The market’s current reduced demand is seen more clearly in historical comparison:  July’s sales total was 10% below the same period last year, and 19% below the 10-year seasonal average. Buyers are choosing to remain on the sidelines as persistent economic uncertainty, both domestic and global, continues to influence major purchase decisions. Yet, this conundrum for some prospective buyers is presenting an opportunity for others. The Fraser Valley remains a buyer’s market during this sales downturn, offering opportunities that should not be ignored. The Valley’s inventory of available homes is at a healthy level with 10,044 active listings at the end of July. Despite a recent decline in new listings – 14% down from the preceding month – the current supply is still over 30% higher than the 10-year seasonal average. The provides a great variety of choices across all property types. At the same time, mortgage rates are still in a range for generally affordable payments. The best five-year variable mortgage posted on True North Mortgage at the time of this writing is 3.49%, while a five-year fixed rate mortgage has recently inched up to 4.14%. The latter’s increase has been predictable with bond markets reflecting global economic disruption, largely from the war in the Middle East. However, the Bank of Canada held its key policy rate this past July 15 to 2.25% for the seventh consecutive announcement since October 2025. This reflects the central bank’s confidence that Canada’s inflation rate, while currently seeing a slight rise. According the the Bank’s July economic forecast, inflation will edge down to roughly 2.5% in the second half of 2026 after facing upward pressure from energy shocks, before returning and hovering close to the 2% target midpoint through 2027. It also noted that Canada’s GDP growth is projected to be slightly stronger in 2027 and 2028. Fraser Valley home prices also offer an incentive for buyers at this time. Prices have continued their overall decline. The combined benchmark price for residential property in the Fraser Valley at the end of July ws $877,600, a 0.8% decrease from the previous month.  

Please consult my monthly guide below to comparative benchmark prices. It provides the overall benchmark for each property type in my selection of areas across the Valley. You will see a cluster of the three closest benchmark prices on each side the overall average in different geographical areas. Monthly price fluctuations are provided  to show the area’s relative sales activity. Remember that benchmarks are averages. If you would like the most up-to-date price listings for any neighbourhood, please give me call.  And if you are considering listing your home for sale, I can prepare a Customized Market Analysis and advise you on the optimal listing price in the current market conditions. Across the Fraser Valley in July, the average number of days to sell a single-family detached home was 40 days; for townhomes, it was also 40 days; condominiums, sold on an average of 46 days.  

Detached Homes

The benchmark price for a detached home in the Fraser Valley at the end of July was $1,335,200, a decrease of 1.1% from the preceding month. The range of the average extended from $1,354,400 in South Surrey/White Rock to $934,800 in Mission. The three municipalities closest to the benchmark on the higher side of the average were: Cloverdale at $1,354,400, no change from the preceding month; Langley at $1,500,900, a decrease of 0.4% from the preceding month; and South Surrey/White Rock at $1,647,200, a decrease of 2.9% from the preceding month. The three municipalities closest to the benchmark on the lower side of the average were: Surrey at $1,325,900, a decrease of 1.0% from the preceding month; North Surrey at $1,264.900, a decrease of 0.1% from the preceding month; and North Delta at $1,213,000, an increase of 1.6% from the preceding month.

Townhouses

The benchmark price for a townhouse in the Fraser Valley at the end of July  was $757,300, a decrease of 0.9% from the preceding month. The range of this average extended from $834,900 in South Surrey/White Rock to $630,500 in Mission. The three municipalities closest to the benchmark on the higher side of the average were: Surrey at $768,100, an increase of 0.3% from the preceding month; Langley at $813,200, a decrease of 0.5% from the preceding month; and South Surrey/White Rock at $853,400, a decrease of 1.1% from the preceding month. The three municipalities closest to the benchmark on the lower side of the average were: Surrey at $753,000, a decrease of 0.7 from the preceding month; North Surrey at $686,100, a decrease of 0.9% from the preceding month; and Mission at $630,500, a decrease of 2.3% from the preceding month.

Condominiums

The benchmark price for a condominium in the Fraser Valley at the end of July was $469,500, a decrease of 1.5% from the preceding month. The range of the average was from $546,900 in South Surrey/White Rock to $380,900 in Abbotsford. The three municipalities closest to the benchmark on the higher side of the average were: Surrey at $474,1000, a decrease of 1.6% from the preceding month; North Delta at $496,100, a decrease of 1.8% from the preceding month; and Cloverdale at $506,700, a decrease of 2.3% from the preceding month. The three municipalities closest to the benchmark on the lower side of the average were: Mission at $425,800, a decrease of 0.7% from the preceding month; North Surrey at $408,300, a decrease of 0.2% from the preceding month; and Abbottsford at $380,900, an increase of 2.4% from the preceding month.

I can help

There are many ways I can help you with your real estate transactions. Please let me know how I can help in these challenging times. You may need help in managing your home ownership plans, or in adjusting your financial strategy for a home purchase. Perhaps you are thinking of listing your home for sale and want to understand the market to set your asking price. Let me help. I have a post-graduate education in business along with years of experience in both banking and real estate. I am happy to help in any way I can. I want my clients to achieve their goals. Please don’t hesitate to call me.  

Sales, new listings down; robust inventory; excellent buying opportunities

Metro Vancouver’s residential market activity in July slowed significantly from the previous month, registering month-over-month declines in both sales and new listings. The volatile market that showed gains in June had held out hope for a sustained recovery from buyer hesitancy that has persisted in the ambient economic uncertainty for many months. July’s sales total of 2,061 was a drop of 13.7% from the preceding month. The setback placed Metro Vancouver close to 10% below sales recorded for the same month one year ago, and almost 19% below the 10-year seasonal average. While the total of new listings of 4,991 across all property types was also a decline – close to 10% month-over-month, and 11.5% from the same period last year – July’s total was nonetheless about even with the 10-year seasonal average. However, despite this recent drop in new listings, Metro Vancouver’s inventory remains robust with a total of 16,476 available properties. This is down 4.0% from one year ago but still 27% above the 10-year seasonal average. The market segment In Metro Vancovuer where there was a particularly noticeable drop in new listing in July was in condominiums, which was down close to 17% month-over-month. Prospective buyers for this property type are advised to watch for possible upward price pressure if the supply continues to decline. At present, even with the current downward demand, upward price pressure is not being experienced, but there are other factors that could still stimulate a rise in demand.  The Bank of Canada’s last policy rate announcement on July 15 kept its key rate at 2.25 %. This was the seventh consecutive hold at this rate where it has been since October 2025.  The central bank’s forecast is for economic growth to pick up, although inflation is elevated in the near term. It notes that the war in the Middle East has pushed up inflation around the world, but that oil prices have fallen from their peak, and inflation is expected to ease. Home prices across Metro Vancouver are still generally declining each month, with a few scattered exceptions. At the end of July, the composite benchmark price for a residential property in Metro Vancouver was $1,088,800, a 1.0% decline from the preceding month.  

I invite you to review my selection below of comparative benchmarks across Metro Vancouver for the past month. For each property type, you will find an overall benchmark price with a cluster of the three closest average prices on each side of the benchmark average. The month-over-month price change is typically a reflection of the relative market activity in the neighborhood. Remember that benchmarks are averages, and a particular actual price may be a better fit for your budget. If you would like to explore a specific neighbourhood, please let me know. I can provide you with the most up-to-date information on current listings. And if you are considering selling your home, I can prepare a Customized Market Analysis for your property and advise you on the optimal listing price is the current market conditions.  Pleas feel free to call. I love to help my clients in any way I can. 

Detached homes

The benchmark price for a single-family detached home in Metro Vancouver at the end of July was $1,822,900, a decrease of 1.1% from the preceding month. The range of this average extended from $3,011,300 in Vancouver West to $867,100 on the Sunshine Coast. The three municipalities closest to the benchmark on the higher side of the average were: Burnaby North $1,858,100, a decrease of 0.6% from the preceding month; Richmond at $1,911,700, a decrease of 2.3% from the preceding month; and Burnaby South at $1,919,800, a decrease of 2.3% from the preceding month. The three municipalities closest to the benchmark on the lower side of the average were: Burnaby North at $1,858,100, a decrease of 0.6% from the preceding month; Vancouver East at $1,642,100, a decrease of 1.1% from the preceding month; and Squamish at $1638,300, a decrease 3.9% from the preceding month.

Townhouses

The benchmark price for a townhouse in Metro Vancouver at the end of July was $1,030,400, a decrease of 1.5% from the preceding month. The range of this average extended from $1,659,200 in Whistler to $718,100 in Squamish. The three municipalities closest to the benchmark on the higher side of the average were: Richmond at $1,035,200, an increase of 1.0% from the preceding month; North Vancouver at $1,237,300, a decrease of 1.8% from the preceding month; and Vancouver West at $1,321.100, a decrease of 2.2% from the preceding month. The three municipalities closest to the benchmark on the lower side of the average were: Vancouver East at $1,009,100, a decrease of 4.4% from the preceding month; Squamish at $999,900, a decrease of 0.6% from the preceding month; and Coquitlam $1,005,600, a decrease of 2.5% from the preceding month.

Condominiums           

The benchmark price for a condominium in Metro Vancouver at the end of July was $688,000, a decrease of 1.1% from the preceding month. The range of this average extended from $1,104,000 in West Vancouver to $420,500 on the Sunshine Coast. The three municipalities closest to the benchmark on the higher side of the average were:  Port Moody at $688,300, a decrease of 1.4% from the preceding month; Burnaby East at $713,100, a decrease of 0.5% from the preceding month; and Burnaby West at $768,700, a decrease of 1.4% from the preceding month. The three municipalities closest to the benchmark on the lower side of the average were: Burnaby North at $673,400, a decrease of 0.8% from the preceding month; Coquitlam at $651,400, a decrease 0.4% from preceding month; and Richmond at $639,700, a decrease of 1.4% from the preceding month.

Let me help

There are many ways I can help you with your real estate transactions. Please let me know how I can help in these challenging times. You may need help in managing your home ownership plans, or in adjusting your financial strategy for a home purchase. Perhaps you are thinking of listing your home for sale and want to understand the market to set your asking price. Let me help. I have a post-graduate education in business along with years of experience in both banking and real estate. I am happy to help in any way I can. I want my clients to achieve their goals. Please don’t hesitate to call me.  

METRO VANCOUVER

Summer brings out buyers; general price declines; borrowing rates still steady

Summer sunshine has brought home buyers off the sidelines in Metro Vancouver with residential sales shooting up 11% from the previous month. June’s sales total was also a 10% over the same period last year. While the market is still lagging in its full recovery with the current volume still 12% below the 10-year seasonal average, June’s sales data suggested all property types fared well with the increased demand, auguring an optimistic outlook for a sustained upward trend in sales. However, new listings last month, while still strong with almost 6,000 across all property types, were a slight dip of close to 3% from the preceding month, prompting a question about this side of the sustainability trend. With June new listings down 6% from the same period last year, and 5.9% below the 10-year seasonal average, market watchers will be keeping an eye on the Metro Vancouver’s inventory going forward. At the end of June, the total supply of available homes across all property types was 17,017, a 3.1% decrease from the same month last year, although a robust 30.2% above the 10-year seasonal average. In the event of continued rising demand and diminishing new listings, home prices could respond to the basic supply and demand pressure, although for the past month continued to see the general price decline, with a few exceptions, across the market. It was good news for home buyers to hear the Bank of Canada’s announcement one week ago that it was holding steady at 2.25% on its key policy rate, where it has remained since December 2025. It was widely seen as a response to Canada’s economy that had contracted unexpectedly by 0.1% in the first quarter of this year, far below the Bank’s prediction of 1.5% growth made last April. However, with the resumption of hostilities in the Persian Gulf, rising oil prices can still put inflationary pressure on the Canadian economy. Canada’s best commercial mortgages at the time of this writing  were 4.09% and 3.94% for five-year fixed and 3.40% five-year variable mortgages. The composite benchmark price for residential property in Metro Vancouver at the end of June was $1,027,900, a decline of 0.1% from the preceding month.

Please review my monthly selection below of comparative benchmarks across Metro Vancouver for the past month. For each property type, you will find an overall benchmark price surrounded by the three closest average prices on each side of the benchmark average. The month-over-month price change is typically a reflection of the relative market activity in the neighborhood. Remember that benchmarks are averages, and a particular actual price may be a better fit for your budget. If you are interested in exploring any specific area, please let me know. I can provide you with the most up-to-date information on current listings. And if you are considering selling your home, I can prepare a Customized Market Analysis for your property and advise you on the optimal listing price is the current market conditions.  Pleas feel free to call. I love to help my clients in any way I can. 

Detached homes

The benchmark price for a single-family detached home in Metro Vancouver at the end of June was $1,842,900, a decrease of 0.3% from the preceding month. The range of this average extended from $3,042,100 in Vancouver West to $851,200 on the Sunshine Coast. The three municipalities closest to the benchmark on the higher side of the average were: Burnaby North $1,868,900, a decrease of 0.9% from the preceding month; Richmond at $1,933,900, a decrease of 1.4% from the preceding month; and Port Moody at $1,947,300, a decrease of 0.4% from the preceding month. The three municipalities closest to the benchmark on the lower side of the average were: Burnaby East at $1,771,000, a decrease of 1.3% from the preceding month; Squamish at $1,705,300, a decrease of 0.3% from the preceding month; and Vancouver East at $1,659,400, a decrease 1.3% from the preceding month.

Townhouses

The benchmark price for a townhouse in Metro Vancouver at the end of June was $1,046,200, a decrease of 0.2% from the preceding month. The range of this average extended from $1,690,300 in Whistler to $743,600 on Sunshine Coast. The three municipalities closest to the benchmark on the higher side of the average were: Vancouver East at $1,054,900, a decrease of 1.1% from the preceding month; North Vancouver at 1,259,600, a decrease of 1.9% from the preceding month; and Vancouver West at $1,351,600, an increase of 1.5% from the preceding month. The three municipalities closest to the benchmark on the lower side of the average were: Richmond at $1,025,100, an increase of 0.1% from the preceding month; Coquitlam at $1,016,200, a decrease of 0.7% from the preceding month; and Squamish at $1,005,600, a decrease of 1.1% from the preceding month.

Condominiums           

The benchmark price for a condominium in Metro Vancouver at the end of June was $695,200, a decrease of 0.4% from the preceding month. The range of this average extended from $1,046,900 in West Vancouver to $424,200 on the Sunshine Coast. The three municipalities closest to the benchmark on the higher side of the average were:  Port Moody at $698,300, a decrease of 0.7% from the preceding month; Burnaby East at $709,200, a decrease of 2.0% from the preceding month; and Burnaby South at $739,100, a decrease of 0.6% from the preceding month. The three municipalities closest to the benchmark on the lower side of the average were: Burnaby North at $678,700, a decrease of 1.5% from the preceding month; Coquitlam at $653,900, a decrease 0.5% from preceding month; and Richmond at $649,900, a decrease of 1.7% from the preceding month.

Let me help

There are many ways I can help you with your real estate transactions. Please let me know how I can help in these challenging times. You may need help in managing your home ownership plans, or in adjusting your financial strategy for a home purchase. Perhaps you are thinking of listing your home for sale and want to understand the market to set your asking price. Let me help. I have a post-graduate education in business along with years of experience in both banking and real estate. I am happy to help in any way I can. I want my clients to achieve their goals. Please don’t hesitate to call me.  

FRASER VALLEY

Fraser Valley market flat; robust inventory; reduced prices await buyers

The Fraser Valley residential market activity remained flat in June, showing a slight increase with 1,147 sales for the month, a 2.3% increase over the preceding month. Similarly, new listings remained around the same level as the preceding month, although 9% down from the same period last year. However, the 3,303 homes added to the inventory last month did maintain a robust supply of available homes, with 10,377 active listings across all property types at the end of the month. Unlike the Metro Vancouver market that saw summer bringing out a spike in buyers, the Fraser Valley held many excellent opportunities for buyers, but with few takers. June’s sales-to-active listings ratio for the Valley was 11%, just within buyers’ market territory, but not sufficient to attract a serious uptake on opportune price negotiations at this time. The ample inventory selection is no doubt a factor in the buyer’s advantage at this time, and with the Valley’s continued monthly price declines, it may be the case some prospective buyers are waiting for even better prices in the event they are not feeling pressure to make a purchase. Prospective buyers may also want to consider the Bank of Canada’s policy rate announcement last week which held its key policy rate to 2.25%, where is has been since late last year. This means mortgages should remain in the 4.0% range, but with the conflict in the Persian Gulf heating up again, oil prices still threaten inflationary pressure on the economy. This could result in a rise in fixed term mortgage borrowing costs. But the Fraser Valley has long been a attractive market for young families and first-time home buyers, a market segment that is more price conscious than home owners looking to move up or withdraw equity in long-time residences. In any scenario, the Valley is currently an opportune place to find a home, and with slide in home prices seen for several months, it rates well in affordability as well. At the end of June, the combined benchmark price for residential property in the Fraser Valley$884,800, a 0.9% decline from the preceding month.

In my monthly guide below to comparative benchmark prices, you will find the overall benchmark for each property type across the Valley, with a cluster of the three closest benchmark prices on each side the overall average. Monthly price fluctuations typically reflect the area’s relative sales activity. Remember that benchmarks are averages. If you would like the most up-to-date price listings for any neighbourhood, please give me call.  And if you are considering listing your home for sale, I can prepare a Customized Market Analysis and advise you on the optimal listing price in the current market conditions. Across the Fraser Valley in June, the average number of days to sell a single-family detached home was 37 days, while for a townhome, it was 33 days. Condos took, on average, 38 days to sell.   

Detached Homes

The benchmark price for a detached home in the Fraser Valley at the end of June was $1,350,200, a decrease of 1.2% from the preceding month. The range of the average extended from $1,699,300 in South Surrey/White Rock to $941,700 in Mission. The three municipalities closest to the benchmark on the higher side of the average were: Cloverdale at $1,354,500, a decrease of 1.7% from the preceding month; Langley at $1,494,800 a decrease of 1.8% from the preceding month; and South Surrey/White Rock at $1,696,300, a decrease of 1.8% from the preceding month. The three municipalities closest to the benchmark on the lower side of the average were: Surrey at $1,336,800, a decrease of 1.7% from the preceding month; North Surrey at $1,278,300, an increase of 0.6% from the preceding month; and North Delta at $1,232,700, an increase of 1.9% from the preceding month.

Townhouses

The benchmark price for a townhouse in the Fraser Valley at the end of June was $764,100, a decrease of 0.7% from the preceding month. The range of this average extended from $868,600 in North Delta to $606,500 in Abbotsford. The three municipalities closest to the benchmark on the higher side of the average were: Cloverdale at $768,100, an increase of 0.3% from the preceding month; Langley at $813,200, a decrease of 0.5% from the preceding month; and South Surrey/White Rock at $853,400, a decrease of 1.1% from the preceding month. The three municipalities closest to the benchmark on the lower side of the average were: Surrey at $758,000, a decrease of 0.1% from the preceding month; North Surrey at $692,600, a decrease of 3.7% from the preceding month; and Abbotsford at $606,500, a decrease of 2.3% from the preceding month.

Condominiums

The benchmark price for a condominium in the Fraser Valley at the end of June was $476,400, a decrease of 1.5% from the preceding month. The range of the average was from $560,800 in South Surrey/White Rock to $390,100 in Abbotsford. The three municipalities closest to the benchmark on the higher side of the average were: Surrey at $481,900, a decrease of 1.3% from the preceding month; North Delta at $505,000, an increase of 0.5% from the preceding month; and Cloverdale at $518,600, a decrease of 3.8% from the preceding month. The three municipalities closest to the benchmark on the lower side of the average were: Mission at $422,900, a decrease of 0.8% from the preceding month; North Surrey at $416,400, an increase of 0.3% from the preceding month; and Abbottsford at $390,100, an increase of 1.1% from the preceding month.

I can help

There are many ways I can help you with your real estate transactions. Please let me know how I can help in these challenging times. You may need help in managing your home ownership plans, or in adjusting your financial strategy for a home purchase. Perhaps you are thinking of listing your home for sale and want to understand the market to set your asking price. Let me help. I have a post-graduate education in business along with years of experience in both banking and real estate. I am happy to help in any way I can. I want my clients to achieve their goals. Please don’t hesitate to call me.  

METRO VANCOUVER

Slight sales decline after upward trend; excellent supply; prices steady

Following a three-month upward trend, Metro Vancouver’s residential market reversed course in May with modest declines in both sales and new listings. Total sales for the month were 2,150, a drop of 3.2% from the preceding month, while a total 6,115 new listings was a dip of 8.5% for the same period. On an annul comparison, the two totals are quite close to May 2025 figures, which recorded 2,228 sales and 6,620 new listings. This relative flatness in Metro Vancouver’s market activity for the same months in the past year appears in contrast to the 10-year market comparison, 26.6% below the seasonal average in sales while 1.3% above the seasonal average in new listings. Looking at the May’s sales with a segmented view, however, illustrates there was a significant difference from the overall sales total in the condominium category, which recorded a 7.2% decline on an annual comparison. This was considerably greater than the 0.9% drop in sales of detached homes, and the 1.3% decline in townhouse sales. Despite the decline in new listings, Metro Vancouver was left with a robust inventory at the end of May of 16,917 available homes across all property types. This is 35% above the 10-year seasonal average and offers prospective buyers an excellent choice at this time. Home prices for all property types have remained steady In May and the purchasing climate is currently relaxed and comfortable with the relatively soft demand. The Bank of Canda policy rate announcement is scheduled for today June 10, If, as widely expected, the central bank holds its key rate at 2.25%, mortgage rates in Canada should remain  close to 4.0%. The composite benchmark price for a residential property in Metro Vancouver at the end of May was $1,100,700, a 0.2% increase from the preceding month.  

I invite you to review my monthly guide to benchmark prices in different areas of Metro Vancouver in the section below. For each property type, I have selected the overall benchmark price and a cluster around it of the three closest average prices on each side of the benchmark average. The month-over-month price changes typically reflect the current market activity in a neighborhood. The range of the average is also provided since average prices do not tell the whole story. If you are interested in the actual listed prices of homes in a particular neighbourhood, please don’t hesitate to call me. I can provide you with the most up-to-date listed prices and other information to guide you home purchase decision. And if you are interested in selling your home, I can prepare a Customized Market Analysis for you property and advise you on the optimal asking price in the current market conditions. During the past month of May, the sales-to active listings ratio for detached homes continued below 12% as it has for several consecutive month, constituting a buyer’s market for this property type. A buyer’s market is created when downward pressure on prices drops below 12% for a sustained period.  Prospective buyers may find it advantageous to negotiate prices in this category now. The sales-to-active listings ratio for townhouses in May was by contrast 15.4% and for condominiums 14.2%.  

Detached homes

The benchmark price for a single-family detached home in Metro Vancouver at the end of May was $1,847,900, an increase of 0.4% from the preceding month. The range of this average extended from $3,025,000 in Vancouver West to $841,500 on the Sunshine Coast.  The three municipalities closest to the benchmark on the higher side of the average were: Burnaby North $1,885,100, a decrease of 0.2% from the preceding month; Richmond at $1,939,400, an increase of 0.2% from the preceding month; and Richmond at $1,961,200, a decrease of 0.2% from the preceding month. The three municipalities closest to the benchmark on the lower side of the average were: Squamish at $1,754,900, an increase of 3.7% from the preceding month; Vancouver East at $1,693,700, a decrease 1.5% from the preceding month; and Coquitlam at $1,654,000, an increase of 1.1% from the preceding month. 

Townhouses

The benchmark price for a townhouse in Metro Vancouver at the end of May was $1,048,200, an increase of 0.5% from the preceding month. The range of this average extended from $1,697,300 in Whistler to $727,300 on Sunshine Coast. The three municipalities closest to the benchmark on the higher side of the average were: Vancouver East at $1,067,400, an increase of 0.7% from the preceding month; North Vancouver at 1,283,600, an increase of 0.8% from the preceding month; and Vancouver West at $1,331,700, a decrease of 0.7% from the preceding month. The three municipalities closest to the benchmark on the lower side of the average were: Richmond at $1,024,600, a decrease of 1.1% from the preceding month; Vancouver East at $1,026,200, a decrease of 1.7% from the preceding month; and Coquitlam at $1,023,500, an increase of 1.5% from the preceding month.

Condominiums           

The benchmark price for a condominium in Metro Vancouver at the end of May was $697,800, a decrease of 0.7% from the preceding month. The range of this average extended from $1,015,100 in West Vancouver to $391,600 on the Sunshine Coast. The three municipalities closest to the benchmark on the higher side of the average were:  Port Moody at $703,000, a decrease of 0.1% from the preceding month; Burnaby East at $723,400, a decrease of 0.4% from the preceding month; and Burnaby South at $743,900, a decrease of 1.8% from the preceding month. The three municipalities closest to the benchmark on the lower side of the average were: Burnaby North at $689,200, a decrease of 0.9% from the preceding month; Richmond at $664,800, a decrease 0.3% from preceding month; and Coquitlam at $657,400, a decrease of 1.0% from the preceding month.

Let me help

There are many ways I can help you with your real estate transactions. Please let me know how I can help in these challenging times. You may need help in managing your home ownership plans, or in adjusting your financial strategy for a home purchase. Perhaps you are thinking of listing your home for sale and want to understand the market to set your asking price. Let me help. I have a post-graduate education in business along with years of experience in both banking and real estate. I am happy to help in any way I can. I want my clients to achieve their goals. Please don’t hesitate to call me.  

FRASER VALLEY

Buyer’s market continues; robust inventory; attractive purchase opportunities

Rising slightly in May, home sales in the Fraser Valley managed to sustain their upward trend seen this year, but the increase of 0.5% was considerably less than the double-digit jumps seen in recent months. The Valley’s inventory of available homes has remained plentiful despite a drop in new listings in May, posting a total supply across all property types of 10,140 active listings at the end of the month, well above historical norms. This provides an excellent selection for prospective buyers, most notably for those in the single detached home segment, which continues to see the most home purchases over townhouses and condominiums. Attractive mortgage rates have also continued to remain steady, as a wave of price inflation, still in lag time from the Persian Gulf blockade of oil shipments, could be expected to hit the Canadian economy soon. Canada’s inflation rate is currently around 2.8%, although transportation inflation has risen to 7.6% from 3.7% in March, although the Bank of Canada noted that it had not seen higher energy prices spread into inflation expectations so far. Today, June 10, the Bank of Canada is making its latest policy rate announcement and is widely expected by leading economists to keep it at 2.25% where it has been for the last six months. Ratehub currently posts that the best 5-year variable and 5-year fixed (insured) rates available in Canada are at 3.30% and 3.99% respectively. With global geopolitical conflicts and the impact of US tariffs behind much of the current economic uncertainty, there are still a many potential home buyers, particularly first-time buyers, holding back on purchase decisions. The noted activity in the detached home segment is largely attributable to home owners with existing equity able to sell at this time to purchase larger homes. During the month of May, a single-family Detached home was on the market for an average of 35 days; townhouses for an average of 37 days; and condominiums for an average of 40 days. The Fraser Valley continues in buyers’ market territory with a sales-to-active listings ratio of 11%, making it very attractive for those who are able to withstand possible economic shocks on the horizon. Prices are also declining across all property types, with the combined benchmark price for a residential property in the Fraser Valley at the end of May at $893,300, a 0.7% decrease from the preceding month.

Please review my guide below to benchmark prices in different areas of the Fraser Valley. For each property type I have selected the overall benchmark average and the three closest average prices on each side of the Benchmark. Remember that average prices can conceal an actual price that may be more attractive to your budget. The range of prices for each average will help you make a good guess at this but be sure to contact me if you want the most up-to-date information on the latest listings in any neighbourhood. And if you are considering listing your home for sale, I can create a Customized Market Analysis of your property and advise you on the optimal asking price in the current market conditions. Please feel free to call me. I love to help my clients in any way I can.    

Detached Homes

The benchmark price for a detached home in the Fraser Valley at the end of May was $1,366,500, a decrease of 0.6% from the preceding month. The range of the average extended from $1,727,000 in South Surrey/White Rock to $949,900 in Mission. The three municipalities closest to the benchmark on the higher side of the average were: Cloverdale at $1,378,100, a decrease of 0.3% from the preceding month; Langley at $1,522,700, a decrease of 0.9% from the preceding month; and South Surrey/White Rock at $1,727,000, a decrease of 0.8% from the preceding month. The three municipalities closest to the benchmark on the lower side of the average were: Surrey at $1,356,500, a decrease of 1.3% from the preceding month; North Surrey at $1,270,000, a decrease of 3.2% from the preceding month; and North Delta at $1,255,900, an increase of 1.3% from the preceding month.

Townhouses

The benchmark price for a townhouse in the Fraser Valley at the end of April was $769,500, a decrease of 0.3% from the preceding month. The range of this average extended from $863,100 in South Surrey/White Rock to $620,800 in Abbotsford. The three municipalities closest to the benchmark on the higher side of the average were: Langley at $817,100, a decrease of 0.7% from the preceding month; North Delta at $852,600, a decrease of 3.1% from the preceding month; and South Surrey/White Rock at $863,100, a decrease of 1.7% from the preceding month. The three municipalities closest to the benchmark on the lower side of the average were: Cloverdale at $766,200, a decrease of 0.9% from the preceding month; North Surrey at $718,800, an increase of 2.2% from the preceding month; and Abbotsfard at $620,800, an increase of 1.6% from the preceding month.

Condominiums

The benchmark price for a condominium in the Fraser Valley at the end of May was $483,800, a decrease of 1.5% from the preceding month. The range of the average was from $576,800 in South Surrey/White Rock to $389,000 in Abbotsford. The three municipalities closest to the benchmark on the higher side of the average were: Surrey at $488,100, a decrease of 1.6% from the preceding month; North Delta at $502,300, a decrease of 2.0% from the preceding month; and Cloverdale at $539,000, an increase of 0.1% from the preceding month. The three municipalities closest to the benchmark on the lower side of the average were: Mission at $427,400, a decrease of 0.8% from the preceding month; North Surrey at $416,400, a decrease of 1.6% from the preceding month; and Abbottsford at $389,000, a decrease of 2.8% from the preceding month.

I can help

There are many ways I can help you with your real estate transactions. Please let me know how I can help in these challenging times. You may need help in managing your home ownership plans, or in adjusting your financial strategy for a home purchase. Perhaps you are thinking of listing your home for sale and want to understand the market to set your asking price. Let me help. I have a post-graduate education in business along with years of experience in both banking and real estate. I am happy to help in any way I can. I want my clients to achieve their goals. Please don’t hesitate to call me.