METRO VANCOUVER

Sales continue downward slide; new listings spike; abundant inventory

Home sales in Metro Vancouver continued their downward trend in January, marking the sixth consecutive monthly decline. January’s 1,107 sales were down 28% from the preceding December and were 31% below the 10-year seasonal average. While January is not necessarily a harbinger for the rest of the year, the lengthy period of declining sales seen since late last summer remains a firm indication of the underlying economic uncertainty affecting prospective buyers. As Canada fends off the U.S. initiated trade tariffs in a volatile geopolitical environment, multiple sectoral disruptions are affecting our confidence in being able to sustain a long-term investment.  A home purchase with monthly mortgage payments can be a daunting decision. At the same time, the housing market itself presents excellent purchase opportunities in the current circumstances Notably Metro Vancouver 5,157 new listings in January were a dramatic increase of 178% over the preceding month, bringing the inventory at the end of January to an appealing 12,628 available homes across all property types. This is 38% above the 10-year seasonal average.  On January 28, the Bank of Canada held its policy rate steady at 2.25% where it has been since last October, an indicator that Canada’s consumer price inflation is hitting its target. Current commercial mortgage rates typically range from 3.84% to 4.6% for 5-year fixed mortgages and from 3.35% to 4.34% for 5-year variable rate mortgages. And while mortgage rates have brought home purchases to an affordable range for many buyers, price declines are also making home purchases more attractive. At the end of January, the composite benchmark price for a residential property in Metro Vancouver was $1,101,900, a 1.2% decline from the previous month.     

I invite you to review in the section below my monthly selection of benchmark prices for comparable homes is in different areas of Metro Vancouver. For each property type, the month-over-month price change can be seen as the typical fluctuation from the relative market activity for the month. You can also see the range of prices making up the benchmark average. There is typically a large difference in the extremities of the range, so I have selected three prices on each side of the average as a guide for your shopping. Please call me if you would like to explore specific prices in any area. I can provide you with the most up-to-date listed prices and answer your questions about any neighborhood. And if you are thinking of listing your home for sale, I can prepare a Customized Market Analysis for you property and advise you on the optimal listing price in the current market. Please feel free to call me with any questions you may have. I love to help my clients with any of their real estate needs.    

Detached homes

The benchmark price for a single-family detached home in Metro Vancouver at the end of January was $1,850,800, a decrease of 1.5% from the preceding month. The range of this average extended from $2,956,400 in West Vancouver to $851,800 on the Sunshine Coast.  The three municipalities closest to the benchmark on the higher side of the average were: Burnaby North $1,939,300, an increase of 0.5% from the preceding month; Richmond at $1,991,600, a decrease of 2.2% from the preceding month; and Port Moody at $1,997,100, a decrease of 0.2% from the preceding month. The three municipalities closest to the benchmark on the lower side of the average were: Burnaby East at $1,796,300, an increase of 0.2% from the preceding month; Vancouver East at $1,697,600, a decrease 1.2% from the preceding month (Squamish is omitted here because it is too far out for my clients); and Coquitlam at $1,647,800, a decrease of 1.3% from the preceding month. 

Townhouses

The benchmark price for a townhouse in Metro Vancouver at the end of January was $1,043,400, a decrease of 1.2% from the preceding month. The range of this average extended from $1,655,500 in Whistler to $725,600 in Pitt Meadows. The three municipalities closest to the benchmark on the higher side of the average were: North Vancouver at $1,269,900. an increase of 1.0% from the preceding month; Vancouver West at 1,397,300, a decrease of 1.1% from the preceding month; and Whistler at $1,655,500, a decrease of 2.3% from the preceding month. The three municipalities closest to the benchmark on the lower side of the average were: Vancouver East at $1,037,100, an increase of 0.2% from the preceding month (Squamish is omitted here because it is too far out for my clients); Richmond at $1,033,100, a decrease of 2.3% from the preceding month; and Port Moody at $982,900, an increase of 0.1% from the preceding month.

Condominiums           

The benchmark price for a condominium in Metro Vancouver at the end of January was $704,600, a decrease of 0.8% from the preceding month. The range of this average extended from $1,259,100 in West Vancouver to $457,800 on the Sunshine Coast. The three municipalities closest to the benchmark on the higher side of the average were: Burnaby East at $740,900, a decrease of 1.2% from the preceding month; Burnaby South at $766,400, an increase of 0.1% from the preceding month; and Vancouver  West at $777,200, an increase of 0.7% from the preceding month. The three municipalities closest to the benchmark on the lower side of the average were: Burnaby North at $699,900, an increase of 0.1% from the preceding month; Port Moody at $695,100, a decrease 2.1% from preceding month; and Ladner at $685,300, an increase of 3.8% 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

Buyer hesitancy persists amid purchase incentives; lowest prices in years. 

Home buyer hesitancy persisted into the new year as the Fraser Valley residential market saw January sales decline 33% from December, registering 619 transactions for the first month of the year. The sales slump was an extension of the slide seen in last two months of 2025, but with notable upside considerations for prospective home buyers. The slack in buyer demand did not induce prospective sellers to hold back their listings, which jumped by 128% in January, reaching a total of 3,078 new listings compared with December’s 1,350. The resulting total inventory at the end of the month was an impressive 7,711 available homes, 11% above December’s count and 54% above the 10-year seasonal average. Home purchase financing is also available at attractive rates offering some relief to price pressures impacting consumers in daily living costs. With the Bank of Canada’s policy rate still at 2.25%, held steady last month since set in October 2025, current commercial mortgage rates can be found as low as 3.84% for a 5-year fixed rate mortgage and around 3.35% for a 5-year variable rate mortgage. Home prices in the Fraser Valley are also beckoning buyers having dropped to their lowest level in almost six years. With the benchmark price now below $900,000, Fraser Valley homes are attractive option when compared to a comparable property in Metro Vancouver where the benchmark price is over the $1-million mark. At the end of January, the combined benchmark price for a residential property in the Fraser Valley was $897,200, a 1.0% decrease from the preceding month.  

Please review my monthly selection below of comparative benchmark prices for homes in different areas of the Fraser Valley at the end of January. For each property type I have selected a total of six benchmark prices, three on each side of the overall benchmark average. The month-over-month price changes indicate the typical fluctuations arising from the relative market activity for the period. The range of each benchmark average can be quite large as prices for comparable propeerties are generally determined by the area of the property. However, it is important to remember that benchmarks are averages, so please call me if you would like to explore specific home prices in a particular area. I can provide you with the most up-to-date information on the latest listings. And if you would like to list your home for sale, I can develop a Customized Market Analysis for your property and advise you on the optimal asking price in the current market conditions. During the month of January, the average number of days for single family detached home to sell was 55 days; townhouses were on the market for an average of 50 days; and condominiums sold on average within 53 days. Please feel free to call me for any additional information or questions you may have about your real estate needs. I love to help my clients anyway I can.

Detached Homes

The benchmark price for a detached home in the Fraser Valley at the end of January was $1,373,100, a decrease of 1.1% from the preceding month. The range of the average extended from $1,728,000 in South Surrey/White Rock to and $948,500 in Mission. The three municipalities closest to the benchmark on the higher side of the average were: Surrey at $1,393,800. a decrease of 0.7% from the preceding month; Langley at $1,505,900, a decrease of 0.6% from the preceding month; and South Surrey/White Rock at $1,728,000, a decrease of 0.3% from the preceding month. The three municipalities closest to the benchmark on the lower side of the average were: Cloverdale at $1,356,700, a decrease of 2.1% from the preceding month; North Surrey at $1,334,600, a decrease of 1.7% from the preceding month; and Abbotsford at $1,171,700, a decrease of 2.3% from the preceding month.

Townhouses

The benchmark price for a townhouse in the Fraser Valley at the end of January was $773,100, a decrease of 1.1% from the preceding month. The range of this average extended from $861,000 in South Surrey/White Rock to $632,600 in Abbotsford. The three municipalities closest to the benchmark on the higher side of the average were: Cloverdale at $778,000, an increase of 0.6% from the preceding month; Langley at $814,500, a decrease of 0.9% from the preceding month; and South Surrey/White Rock at $861,000, a decrease of 2.8% from the preceding month. The three municipalities closest to the benchmark on the lower side of the average were: Surrey at $767,300, a decrease of 0.8% from the preceding month; North Surrey at $704,300, a decrease of 0.4% from the preceding month; and Mission at $665,400, no change from the preceding month.

Condominiums

The benchmark price for a condominium in the Fraser Valley at the end of January was $488,600, a decrease of 0.6% from the preceding month. The range of the average was from $565,300 in South Surrey/White Rock to $397,500 in Abbotsford. The three municipalities closest to the benchmark on the higher side of the average were: Surrey at $498,700, a decrease of 0.2% from the preceding month; North Delta at $517,700, a decrease of 0.6% from the preceding month; and Cloverdale at $543,100, an increase of 1.2% from the preceding month. The three municipalities closest to the benchmark on the lower side of the average were: North Surrey at $429,300, a decrease of 0.5% from the preceding month; Mission at $437,00, a decrease of 1.7% from the preceding month; and Abbotsford at $397,500, a decrease of 1.6% 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 VANCOUVER

Favourable market conditions for buyers at outset of 2026

The residential market in Metro Vancouver closed December with its fifth consecutive month of declining sales – a drop of 16.4% from the preceding month – for a total of 1,537 homes sold in the last month of the year. Despite the lengthy downward trend in the last half of year, the sales for the period totalled only 2% below the first six months, making 2025 a challenging year overall. It was in fact the slowest home sales year in more than two decades, and 25% below the 10-year seasonal average. On recent annual comparisons, last year’s total of 23,800 home sales was 10.4% down from 2024, and 9.3% down from 2023. It was in new listings, however, that the month-over-month market decline was most prominent. December’s news listings dropped a dramatically from the previous month, registering a 50% decline for a total of 1,849 newly listed homes across all property types. Total inventory for Metro Vancouver at the end of December still remained high at 12,550. This was 17% lower than the preceding month but nonetheless 10.3% higher than the same period one year ago, and 10.3% above than the 10-year season average. If December’s new listings decline was noticeable by its size, it was not completely unexpected, following a 30% drop in the preceding month. The year on the whole was one marked by a much greater desire to sell than to buy, a market dynamic that has remained persistent in a climate of general economic uncertainty. Yet, the current market conditions represent an excellent time to buy. Mortgage interest rates have dropped along with home prices. The Bank of Canada’s policy rate of 2.25% has remained steady since December 10 with the next central bank rate announcement is scheduled for January 28. Canada’s Consumer Price Index inflation rate has been close to the target of 2% for several months, and there appears to be little reason for a further rate at this time. As well, home prices have eased considerably.  At the end of December, the composite benchmark price for residential property in Metro Vancouver was $1,114,800, a 0.8% decline from the preceding month, and 4.5% lower than one year ago.  

Below is my monthly guide to benchmarks prices around Metro Vancouver. I have selected the overall average price from the different municipal areas as the benchmark for comparing comparable homes in six different areas for each property type. The six selections consist of three home closest to the benchmark on the higher side of the average, and three on the lower side. The monthly price changes shown are typical fluctuations arising from recent sales in a particular area. Remember that average prices may conceal specific prices that are attractive to your budget, so please call me if your interested in exploring what is available in a particular area.  I can provide you with the most up-to-date information on the latest listings. And if you are interested in selling your home, I can advise you on the optimal listing price in the current market conditions.

Detached homes

The benchmark price for a single-family detached home in Metro Vancouver at the end of December was $1,879,800, a decrease of 1.1% from the preceding month. The range of this average extended from $3,137,400 in Vancouver West to $841,000 on the Sunshine Coast.  The three municipalities closest to the benchmark on the higher side of the average were: Burnaby North $1,930,400, a decrease of 0.5% from the preceding month; Port Moody at $2.001,800, a decrease of 4.2% from the preceding month; and Richmond at $2,036,800, a decrease of 0.5% from the preceding month. The three municipalities closest to the benchmark on the lower side of the average were: Vancouver East at $1,718,800, a decrease of 1.1% from the preceding month; Coquitlam at $1,670,400, a decrease 1.5% from the preceding month (Squamish is omitted here because it is too far out for my clients); and Tsawwassen at $1,478,600, an increase of 1.7% from the preceding month.  

Townhouses

The benchmark price for a townhouse in Metro Vancouver at the end of December was $1,056,600, a decrease of 0.9% from the preceding month. The range of this average extended from $1,695,100 in Whistler to $774,200 in Pitt Meadows. The three municipalities closest to the benchmark on the higher side of the average were: Richmond at $1,057,400, a decrease of 1.9% from the preceding month; North Vancouver at 1,257,600, a decrease of 2.6% from the preceding month; and Vancouver West at $1,413,200, an increase of 3.4% from the preceding month. The three municipalities closest to the benchmark on the lower side of the average were: Vancouver East at $1,035,100, an increase of 3.4% from the preceding month (Squamish is omitted here because it is too far out for my clients); Coquitlam at $994,300, a decrease of 2.8% from the preceding month; and Burnaby South at $987,300, an increase of 0.4% from the preceding month.

Condominiums           

The benchmark price for a condominium in Metro Vancouver at the end of December was $710,000, a decrease of 0.6% from the preceding month. The range of this average extended from $1,077,300 in West Vancouver to $473,100 on the Sunshine Coast. The three municipalities closest to the benchmark on the higher side of the average were: Port Moody at $710,000, an increase of 0.8% from the preceding month; Burnaby East at $750,100, a decrease of 1.2% from the preceding month; and Burnaby South West at $765,900, an increase of 0.1% from the preceding month. The three municipalities closest to the benchmark on the lower side of the average were: Coquitlam at $681,100, a decrease of 0.7% from the preceding month; Richmond at $676,400, a decrease 1.6% from preceding month; and Ladner at $660,000, 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

New year starts with balanced market; one year overall price decline 6%; low borrowing costs

Recording month-over month declines in home sales and new listings in December, the Fraser Valley residential market continued the downward trend it saw for the last two months of 2025. December sales were down from the preceding month by 2.5% for a total of 919 transactions. This was also 7.5% below sales for the same month one year ago.  While there was also a drop in new listings for the last month of the year, noticeably steep with a 39% decline, it was not unusual to see a slow down in new homes added to the available supply at this time of year. The 1,350 newly listed homes in December brought the total inventory to 6,695 homes at the end of the month. Although down 24% from the preceding month, the nearly 7000 available homes still offer an excellent selection across all property types to begin the new year. The sharp month-over-month decline can be attributed to exceptionally high numbers of new listings during the last quarter of 2025 that also saw a steady slowing in sales. This combination had tilted purchase conditions to a buyers’ market with more negotiating room for purchasers, even though many prospective buyers remained on the sidelines throughout the economic uncertainty that characterized 2025. However, opening the year with a somewhat reduced inventory rebalances the market with a sales-to-active listing ratio of 13% at the end of 2025. For both buyers and sellers, this may provide more predictability to a final transaction price and make for more quickly expedited sales. Another factor bearing on a potentially revitalized market is that borrowing costs are still relatively low. The Bank of Canada’s current policy rate of 2.25%, set near the beginning December, will be watched for its next scheduled announcement on January 28, but the current policy rate appears to be keeping inflation in check. The national Consumer Price Inflation rate is still close to its target of 2.0. Rate hub currently reports the lowest 5-year fixed rate in Canada is 3.84% and the lowest 5-year variable rate in 3.46%.  Price drops offer another incentive to buyers at present. At the end of December, the composite benchmark price for residential property in the Fraser Valley was $905,900, a 0.7% decline from the preceding month. This is notably 6.0% lower than one year ago.

I invite you to review my monthly guide to benchmarks prices across different areas of the Fraser Valley in the section below.  The six price levels for each property type represent the three closest average prices above the overall benchmark average for the whole region and the three closest prices below. The benchmark average is for comparable homes in each municipal area. If you would like to explore a particular area, I can provide you with the most up-to-date listings with specific asking prices. And if you are thinking of selling your home, I can prepare a Customized Market Analysis of your property based on the most recent sales in your neighborhood and advise you on the optimal asking price in the current market conditions.  

Detached Homes

The benchmark price for a detached home in the Fraser Valley at the end of December was $1,388,400 a decrease of 1.2% from the preceding month. The range of the average extended from $1,732,300 in South Surrey/White Rock to and $973,500 in Mission. The three municipalities closest to the benchmark on the higher side of the average were: Surrey at $1,404,300 a decrease of 0.6% from the preceding month; Langley at $1,514,400, a decrease of 1.9% from the preceding month; and South Surrey/White Rock at $1,732,300, a decrease of 0.8% from the preceding month. The three municipalities closest to the benchmark on the lower side of the average were: Cloverdale at $1,385,100, a decrease of 1.5% from the preceding month; North Surrey at $1,357,300, a decrease of 2.5% from the preceding month; and North Delta at $1,267,100, an increase of 1.2% from the preceding month.

Townhouses

The benchmark price for a townhouse in the Fraser Valley at the end of December was $781,300, a increase of 0.3% from the preceding month. The range of this average extended from $885,700 in South Surrey/White Rock to $634,600 in Abbotsford. The three municipalities closest to the benchmark on the higher side of the average were: Cloverdale at $781,700, an increase of 0.4% from the preceding month; Langley at $822,200, a decrease of 0.6% from the preceding month; and South Surrey/White Rock at $885,700, an increase of 1.1% from the preceding month. The three municipalities closest to the benchmark on the lower side of the average were: Surrey at $773,200, an increase of 0.7% from the preceding month; North Surrey at $707,200, an increase of 2.4% from the preceding month; and Mission at $655,400, an increase of 1.4% from the preceding month.

Condominiums

The benchmark price for a condominium in the Fraser Valley at the end of December was $491,600, a decrease of 1.0% from the preceding month. The range of the average was from $570,800 in South Surrey/White Rock to $403,800 in Abbotsford. The three municipalities closest to the benchmark on the higher side of the average were: Surrey at $500,900, a decrease of 1.6% from the preceding month; North Delta at $520,600, a decrease of 1.8% from the preceding month; and Cloverdale at $536,700, a decrease of 1.9% from the preceding month. The three municipalities closest to the benchmark on the lower side of the average were: North Surrey at $441,600, a decrease of 0.4% from the preceding month; Mission at $429,700, a decrease of 0.3% from the preceding month; and Abbotsford at $403,800, a decrease of 0.7% 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.  

METRO VANCOUVER

Buyers’ window of opportunity; interest rates drop, prices easing.

Metro Vancouver’s residential market experienced a month-over-month drop in both sales and new listings in October, down 22% and 13% respectively from September. In the sales category it was the third consecutive month of declining transactions, but the drop off in new listings was in sharp contrast to the 50% inventory spike seen last month. In a longer term comparison, this past October’s sales registered below both the one-year and ten-year comparisons, 14% down for each period, in a month which normally sees a seasonal surge. The net result, however, is an attractive market for buyers at present. Supply remains high, offering an excellent choice across all property types, with 16,393 available homes at the end of September. This is 13% over the same month last year and 36% above the 10-year seasonal average. Along with the Bank of Canada’s last rate cut at the end of October, which lowered the policy rate by 25 basis points to 2.25%, current market conditions make it an excellent time to negotiate a home purchase. The central bank has signalled it does not intend to make further cuts this year, suggesting a possible rise in inflation returning next year. With the latest central bank rate cut, current commercial variable rate mortgages have dropped to around 3.45% for five year terms, which is below the five year fixed rate around 3.70%. Factor in easing prices now occurring, and prospective buyers have an excellent window of opportunity for favourable terms in a home purchase. Few areas did not see price declines in October, with some of the biggest declines in Single Family Detached homes, notably Burnaby East down 3.%% and Burnaby North down 2.5%; In Townhouses, Burnaby East down 3.2%; in Condominiums, Port Moody down 2.4% and Vancouver West down 2.3% and West Vancouver down 8.0%. The composite benchmark price for a residential property in Metro Vancouver at the end of October was $1,132,700, a 0.9% decline from the preceding month.   

I invite you to review my monthly guide in the section below to benchmark prices for each property type across Metro Vancouver municipalities. For each property type, I show the overall benchmark price which is an average price in its category. Other benchmarks are then grouped around the overall average for comparable homes in different municipalities. You will see the three closest average prices on each side of the overall average (above and below) to guide you to a neighborhood to find a home with similar characteristics and with a price reflecting the demand in its municipality. The month-over-month price changes indicate the current market activity, and the extremities of the overall benchmark price indicates the range of prices making of the average. However, because benchmarks are averages, please call me for specific listed prices if you are interested in a particular neighborhood. And if you are considering listing your property for sale, I can advise you on the optimal asking price in the current market conditions. Please feel free to call me with any questions. 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 October was $1,916,400, a decrease of 0.9% from the preceding month. The extremities of this average were Vancouver West at $3,246,200 and Sunshine Coast at $870,100. The three municipalities closest to the benchmark on the higher side of the average were: Burnaby North $1,981,900, a decrease of 2.5% from the preceding month; Richmond at $2,027,100, a decrease of 0.9% from the preceding month; and Port Moody at $2,081,500, an increase of 0.1% from the preceding month. The three municipalities closest to the benchmark on the lower side of the average were: Burnaby East at $1,809,400, a decrease of 3.6% from the preceding month; Richmond at $2,027,100, a decrease of 0.9% from the preceding month; and Coquitlam at $1,076,100 a decrease of 0.8% the preceding month.

Townhouses

The benchmark price for a townhouse in Metro Vancouver at the end of October was $1,066,700, a decrease of 0.3% from the preceding month. The extremities of this average were Whistler at $1,664,300 and Sunshine Coast at $752,700. The three municipalities closest to the benchmark on the higher side of the average were: North Vancouver at $1,287,200, a decrease of 0.8% from the preceding month; Vancouver West at 1,378,900, an increase of 0.4% from the preceding month; and Whistler at $1,644,300, an increase of 1.4% from the preceding month; The three municipalities closest to the benchmark on the lower side of the average were: Vancouver East at $1,053,900, an increase of 0.5% from the preceding month; Richmond at $1,049,100, an increase of 0.6% from the preceding month; and Squamish at $1,049,000, an increase of 16% from the preceding month.

Condominiums                           

The benchmark price for a condominium in Metro Vancouver at the end of October was $718,900, a decrease of 1.4% from the preceding month. The extremities of this average were: West Vancouver at $1,192,000 and Sunshine Coast at $481,600. The three municipalities closest to the benchmark on the higher side of the average were: Port Moody $727,900, an increase of 2.4% from the preceding month; Burnaby East at $753,000, an increase of 0.3% from the preceding month; and Vancouver West at $785,500, 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 $715,400, a decrease of 0.8% from the preceding month; Richmond at $696,800, a decrease 1.1% from preceding month; and Coquitlam at $785,500, a decrease of 2.3% 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

Sales see uptick but still slow; large supply; interest rates down   

The Fraser Valley saw another month of rising sales volume as October’s sales closed 16.7% higher than September’s. It was the second consecutive month of Valley sales moving upward, and at a significantly higher rate than September’s. The rally comes at the same time home sales in Metro Vancouver went in the other direction for an atypical October normally seeing an uptick before the winter season. While not yet showing sustained sales recovery – still 16% below the same month one year – the Fraser Valley remains an attractive market for first-time buyers and young families. Inventory across all property types is plentiful with 10,121 available homes at the end of October. Though down slightly from the previous month, owing to a 14% month-over-month drop in October’s new listings to 2,967, the total supply closed 15% higher than the same period last year. Prospective home buyers can now take advantage of the lowest mortgage interest rates in over three years. With the last Bank of Canada policy rate announcement on October 29, the central bank’s policy rate was cut to 2.25%, and commercial mortgage rates followed with rates now at their lowest in three years. Five year mortgage rates have dropped below five year fixed term rates, and commercial lenders now offer mortgages as low as 3.45% and 3.70% for variable and fixed respectively. Fraser Valley homes continue to sell under the price levels for comparable Metro Vancouver homes further adding to Fraser Valley market attractiveness. With the Fraser Valley’s combined benchmark price more than $200,000 below Metro Vancouver, the Valley offers great value for money and an excellent long-term home investment opportunity. At the end of October, the benchmark price for a residential property in the Fraser Valley was $919,900, a decrease of 0.7% from the preceding month.

In the section below, I provide my monthly guide to comparative benchmark prices in different areas of the Fraser Valley, For each property type you will find the overall benchmark average along with the three closest benchmarks on each side of this average. The month-over-month price changes are the fluctuations that occur typically from the relative demand in a particular area. And from the extremities of each benchmark, you can gauge the range of actual prices making up the average. Remember  that benchmarks are averages so use the benchmark only as guide for you shopping. There can often find an actual price that is a attractive to your budget  I am happy to provide you with the most up to date information on any neighborhood, so please call me if you are interested in exploring listings in a particular area. And if you are thinking of selling your home, I can prepare a Customized Market Analysis for you property and advise you on the optimal listing price in the current market. During the past month of October, newly listed single family detached homes sold within an average of 42 days; townhouses sold on average in 37 days; and condominiums, 42 days. Please let me know how I can assist you further.      

. 

Detached Homes

The benchmark price for a detached home in the Fraser Valley at the end of October was $1,411,900, a decrease of 0.6% from the preceding month. The extremities of this average were: South Surrey/White Rock at $1,754,000 and Mission at $1,015,400. The three municipalities closest to the benchmark on the higher side of the average were: Surrey at $1,426,800, a decrease of 0.5% from the preceding month; Cloverdale at $1,429,300, a decrease of 0.3 from the preceding month; and Langley at $1,170,100, a decrease of 1.6% from the preceding month. The three municipalities closest to the benchmark on the lower side of the average were: North Surrey at $1,386,700, an increase of 0.4% from the preceding month; North Delta at $1,300,800, a decrease of 1.3% from the preceding month; Abbotsford at $1,170,100, an increase of 1.5% from the preceding month.

Townhouses

The benchmark price for a townhouse in the Fraser Valley at the end of October was $786,000, a decrease of 1.2% from the preceding month. The extremities of this average were South Surrey/White Rock at $879,100 and Abbotsford at $634,800. The three municipalities closest to the benchmark on the higher side of the average were: Cloverdale at $789,100, a decrease of 3.1% from the preceding month; Langley at $833,000, a decrease of 0.8% from the preceding month; and South Surrey/White Rock at $879,100, a decrease of 3.4% from the preceding month. The three municipalities closest to the benchmark on the lower side of the average were: Surrey at $780,700, a decrease of 0.2% from the preceding month; North Surrey at $710,500, a decrease of 4.3% from the preceding month; and Mission at $646,000, a decrease of 1.0% from the preceding month.

Condominiums

The benchmark price for a condominium in the Fraser Valley at the end of October was $506,400, a decrease of 0.8% from the preceding month. The extremities of this average were South Surrey/White Rock at $581,300 and Abbotsford at $415,200. The three municipalities closest to the benchmark on the higher side of the average were: Surrey at $532,600, an increase of 0.1% from the preceding month; North Delta at $548,300, an increase of 0.9% from the preceding month; and Cloverdale at $551,900, a decrease of 1.3% from the preceding month. The three municipalities closest to the benchmark on the lower side of the average were North Surrey at $439,600, a decrease of 1.0% from the preceding month; Mission at $437,300, an increase of 0.1% from the preceding month; and Abbotsford at $415,200, a decrease of 0.2% 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

Sales dip; new listings soar; excellent purchase opportunities

Metro Vancouver’s residential market activity in September was a lopsided combination of weak demand and strong supply. Home sales dipped for the second consecutive month, registering a total of 1,875, a 4.2% decrease from the preceding month. While the rate of decrease was substantially less than the one month decline of 14% seen in August, September’s figure is still 1.2% higher than the same month last year, but 20.1% below the 10-year seasonal average. New listings, however, showed a big spike reaching 6,257, a significant increase by all measures: 54.4% higher the preceding month; 6.2% more the same month last year; and 20.1% above the 10 year seasonal average. Total inventory at the end of September was a robust 17,079 available properties across all property types, 14.4% higher than one year ago, and 36.1% above the 10 year seasonal average. With such an abundant home selection available, along with lower borrowing rates and easing prices, a rationale for the paucity of actual home buyers can be found in the headwinds faced by the country’s economic growth. The full impact of U.S. tariffs has yet to be felt here, but Canada’s job market has been cooling and wage growth has slowed leading to labour strikes and unrest. Inflation in key consumer goods such a groceries continues and consumer spending has been slowing generally. Canada’s goods trade volume fell by more than 10% in the second quarter of this year, and despite efforts to diversify trade in non-U.S. markets, Canadian exports to countries other than the U.S. declined this past summer. British Columbia’s softwood lumber industry has been particularly hard hit. In sum, considerable uncertainty remains in the economy. For many prospective buyers, this produces a general wait-and-see attitude. However, the housing market itself holds excellent opportunities for buyers at present, even against the background of negative economic conditions. Plentiful inventory provides room for negotiations, and easing prices continue to offer desirable purchase opportunities. With the Bank of Canada’s latest rate cut to 2.5%, there is opportunity to find very affordable commercial mortgages now under 4% for both variable and fixed five-year terms. Watch for next central bank announcement is October 29 for another possible rate cut if the economy needs another boost. At the end of September, the benchmark price for a residential property in Metro Vancouver was $1,142,100, a decrease if 0.7% from the preceding month.

In my monthly selection below of benchmark prices, you will find a guide to recent average prices for comparable homes in different areas of Metro Vancouver. The overall benchmark average is shown with the three closest average prices on each side of the benchmark. If you are interested in a particular neighbourhood, please call me and I can provide you with the most up-to-date information on actual prices for listed properties. And  if you are interested in selling your home, I can prepare a Customized Market Analysis of your property, and advise you on the optimal listing price in the current market conditions. Please don’t hesitate to call. I love to help my clients with any of their real estate needs.  

Detached homes

The benchmark price for a single-family detached home in Metro Vancouver at the end of September was $1,933,100, a decrease of 0.9% from the preceding month. The extremities of this average were Vancouver West at $3,232,600 and Sunshine Coast at $873,300. The three municipalities closest to the benchmark on the higher side of the average were: Burnaby North $2,032,800, a decrease of 1.8% from the preceding month; Richmond at $2,044,800, a decrease of 3.1% from the preceding month; and Port Moody at $2,080,500, a decrease of 0.7% from the preceding month. The three municipalities closest to the benchmark on the lower side of the average were: Burnaby East at $1,877,400, a decrease of 5.7% from the preceding month; Vancouver East at $1,756,800, a decrease of 1.6% from the preceding month; and Coquitlam at $1,720,000 no change from the preceding month.

Townhouses

The benchmark price for a townhouse in Metro Vancouver at the end of September was $1,069,800, a decrease of 0.9% from the preceding month. The extremities of this average were Whistler at $1,641,300 and Sunshine Coast at $748,600. The three municipalities closest to the benchmark on the higher side of the average were: North Vancouver at $1,297,900, a decrease of 0.9% from the preceding month; Vancouver West at 1,373,700, a decrease of 1.5% from the preceding month; and Whistler at $1,641,300, a decrease of 2.2% from the preceding month; The three municipalities closest to the benchmark on the lower side of the average were: Coquitlam at $1,052,000, a decrease of 3.2% from the preceding month; Vancouver East at $1,048,600, a decrease of 2.7% from the preceding month; and Burnaby South at $1,044,700, an increase of 0.1% from the preceding month.

Condominiums                           

The benchmark price for a condominium in Metro Vancouver at the end of September was $728,800, a decrease of 0.7% from the preceding month. The extremities of this average were: West Vancouver at $1,186,400 and Sunshine Coast at $460,600. The three municipalities closest to the benchmark on the higher side of the average were: Burnaby North $715,400, a decrease of 0.5% from the preceding month; North Vancouver at $790,500, a decrease of 0.5% from the preceding month; and Burnaby South at $601,400, an increase of 0.7% from the preceding month. The three municipalities closest to the benchmark on the lower side of the average were: Burnaby North at $715,400, a decrease of 0.8% from the preceding month; Port Moody at $711,100, a decrease 1.7% from preceding month; and Richmond at $704,600, no change 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

September sales spurt; huge inventory; prices downward. 

Fraser Valley home sales spurted up to reach a total of 962 in September, a 3.3% increase over August, which recorded a sharp decline of 22% after steady growth in small monthly increments this year. However, September’s total was still down by 2.0% from the same month last year, and 28% below the 10 year seasonal average. On the supply side, the new listings in September jumped 23% with 3,447 homes added to the Valley’s inventory, which reached a total of 10,583 available home across all property types at the end of the September. On a historical comparison, this is 1.0% above the preceding month, and 17% over the same month last year. With the abundance of available homes The Faser Valley remains buyers market, where prospective home buyers have room to negotiate and can find excellent purchase opportunities. Buyers also enjoy  excellent borrowing rates at present. The Bank of Canada’s last policy rate announcement on September 17 of 2.5% has brought current variable mortgage interest rates to as low as 3.70% on five-year terms, while five year fixed terms can be found at an even lower rate of 3.69%. The next Bank of Canada announcement is scheduled for October 29. Economists have noted that if the central bank cuts its key rate by 0.25%, variable term mortgages could drop below fixed term rates. Price declines are also prevalent across the Valley. September recorded the sixth consecutive monthly decline, making it an ideal time for buyers in all categories. At the end of September, the benchmark price for residential property in the Fraser Valley was 926,300, a 1.0% decrease from the preceding month.   

Please review my monthly guide to housing prices in different areas of the Fraser Valley in the section below. For each property type, the average benchmark is shown with the three closest benchmarks on each side of the average for comparable homes in different Valley municipalities. The month-over-month price change provided typically reflects the relative sales demand in the neighborhood. Note the extremities of each benchmark in order to get an idea of the range of prices making up the average, and remember averages are not the same as actual listed prices. There may be an actual price concealed in the average that is more attractive to your budget. If you are interested in a particular area, please give me a call and I will be able to provide you with the most up-to-date price listings and other information about the neighbourhood you are considering. And If you are thinking of listing you home for sale, I can prepare a Customized Market Analysis for your property and advise you on the optimal listing price in the current market conditions. Based on the most recent statistics,  the average time to sell a single attached home in the Fraser Valley was 37 days; townhouses, 38 days; and condominiums, 39 days. Please call me for anything you would like to know whether buying or selling your home. I love to help my clients in every way I can.

Detached Homes

The benchmark price for a detached home in the Fraser Valley at the end of September was $1,420,000, a decrease of 1.2% from the preceding month. The extremities of this average were South Surrey/White Rock at $1,777,900 and Mission at $1,015,400. The three municipalities closest to the benchmark on the higher side of the average were: Cloverdale at $1,433,200, a decrease of 1.2% from the preceding month; Surrey at $1,434,400, a decrease of 1.1 from the preceding month; and Langley at $1,576,300, a decrease of 0.9% from the preceding month. The three municipalities closest to the benchmark on the lower side of the average were: North Surrey at $1,382,000, a decrease of 2.9% from the preceding month; North Delta at $1,318,400, a decrease of 0.2% from the preceding month; Abbotsford at $1,152,500, a decrease of 1.7% from the preceding month.

Townhouses

The benchmark price for a townhouse in the Fraser Valley at the end of September was $795,600, a decrease of 1.5% from the preceding month. The extremities of this average were South Surrey/White Rock at $906,800 and Abbotsford at $640,500. The three municipalities closest to the benchmark on the higher side of the average were: Cloverdale at $800,100, a decrease of 1.4% from the preceding month; Langley at $839,600, a decrease of 1.0% from the preceding month; and North Delta at $901,200, a decrease of 3.4% from the preceding month. The three municipalities closest to the benchmark on the lower side of the average were: Surrey at $781,900, a decrease of 1.8%% from the preceding month; North Surrey at $742,600, an increase of 2.8% from the preceding month; and Mission at $652,500, a decrease of 0.6% from the preceding month.

Condominiums

The benchmark price for a condominium in the Fraser Valley at the end of September was $510,400, a decrease of 0.7% from the preceding month. The extremities of this average were South Surrey/White Rock at $593,100 and Abbotsford at $415,900. The three municipalities closest to the benchmark on the higher side of the average were Surrey at $532,200, a decrease of 0.4% from the preceding month; North Delta at $543,400, an increase of 0.6% from the preceding month; and Cloverdale at $559,300, a decrease of 2.3% from the preceding month. The three municipalities closest to the benchmark on the lower side of the average were North Surrey at $443,800, a decrease of 0.5% from the preceding month; Mission at $436,800, an increase of 0.5% from the preceding month; and Abbotsford at $415,900, a decrease of 1.4% 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.  

METRO VANCOUVER

Sales decline as summer closes; plentiful supply; prices in decline

Metro Vancouver home sales this past August recorded their first month-over-month decline following a slow ascent since January this year. However, the 326 fewer transactions amounted a 14% decrease for a total of 1,959 sales for the month. While monthly sales increases had been accruing in relatively small increments since the beginning of the year, at the same time Metro Vancouver’s market has been catching up to last year’s sales levels. On an annual comparison, the current end-of-summer sales figures, though down from July, finally showed a slight increase compared with the same period last year. On an annual comparison, August sales this year were 2.8% above August 2024, but still down over 19% on the 10-year seasonal average. New listings in August reached 4,225 across all property types. This was also a 2.8% increase over the same month last year, and 1.3% above the 10-year seasonal average. This brought the total inventory in Metro Vancouver at the end of August to a plentiful supply of 16,242, while down by 926 homes from the inventory at the end of July, it was close to 18% above the same period one year ago, and nearly 40% above the 10-year seasonal average. The robust number of homes on the market continues to favour buyers with easing prices. The Bank of Canada’s policy rate announcement scheduled for today, September 17, will also  be of keen interest to prospective home buyers. The key rate has remained at 2.75% since near the beginning of June. Prospective homebuyers are encouraged to watch for a slight reduction in mortgage rates that may follow if the many economists who have predicted a rate cut of 0.25% are proven right today The combined benchmark price of residential property in Metro Vancouver at the end of August was $1,150,400, a 1.3% decline from the preceding month.

In the section below, my monthly selection of comparative benchmark prices in different areas of Metro Vancouver serves as guide to home shoppers. For each property type, you will find the overall benchmark along with the three closest average prices on each side of the benchmark. You will also find the month-over-month prices changes for each neighborhood benchmark. These fluctuations typically represent the level market demand for the most recent sales period in a neighbourhood. The extremities of the averages is provided to give you an idea of range of prices making up the average. It is important to remember that benchmarks are averages, meaning that an actual price which may be closer to your budget could be hidden in the average. If you are interested in purchasing in a particular area, please don’t hesitate to call me. I can provide the most up-to-date information on asking prices. And if you are thinking of selling your home, I can prepare a Customized Market Analysis and advise you on the optimal listing price in the current market conditions. Please feel free to call me with any questions you may have. I love to help my clients in everyway I can.        

Detached homes

The benchmark price for a single-family detached home in Metro Vancouver at the end of August was $1,950,300, a decrease of 1.2% from the preceding month. The extremities of this average were Vancouver West at $3,264,900 and Sunshine Coast at $885,000. The three municipalities closest to the benchmark on the higher side of the average were: Burnaby East $1,991,800, a decrease of 1.9% from the preceding month; Burnaby North at $2,064,400, a decrease of 3.1% from the preceding month; and Richmond at $2,083,400, a decrease of 0.2% from the preceding month. The three municipalities closest to the benchmark on the lower side of the average were: Vancouver East at $1,785,800, a decrease of 0.5% from the preceding month; Coquitlam at $1,719,700, a decrease of 1.0% from the preceding month; and New Westminster at $1,596,300, an increase of 0.8% from the preceding month.

Townhouses

The benchmark price for a townhouse in Metro Vancouver at the end of August was $1,079,200, a decrease of 1.8% from the preceding month. The extremities of this average were Whistler at $1,605,400 and Sunshine Coast at $732,000. The three municipalities closest to the benchmark on the higher side of the average were: Coquitlam at $1,087,100, a decrease of 0.6% from the preceding month; North Vancouver at 1,286,900, a decrease of 2.1% from the preceding month; and Vancouver West at $1,395,000, a decrease of 1.6% from the preceding month; The three municipalities closest to the benchmark on the lower side of the average were: Vancouver East at $1,077,700, a decrease of 3.6% from the preceding month; Richmond at $1,059,600, a decrease of 3.1% from the preceding month; and Burnaby South at $1,044,100, a decrease of 2.8% from the preceding month.

Condominiums                           

The benchmark price for a condominium in Metro Vancouver at the end of August was $734,400, a decrease of 1.2% from the preceding month. The extremities of this average were: West Vancouver at $1,255,800 and Maple Ridge at $494,700. The three municipalities closest to the benchmark on the higher side of the average were: Burnaby East $765,900, no change from the preceding month; North Vancouver at $794,800, a decrease of 3.0% from the preceding month; and Burnaby South at $795,500, a decrease of 1.6% from the preceding month. The three municipalities closest to the benchmark on the lower side of the average were: Port Moody at $723,600, a decrease of 1.1% from the preceding month; Burnaby North at $721,200, an increase 0.4% from preceding month; and Richmond at $704,300, 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

Sharp drop in August sales; easing prices, strong supply support buyers.

Home sales in the Fraser Valley dropped 22% in August from the previous month, a sharp decline following the gradual increases seen since the beginning of the year. With 931 sales for the month, Fraser Valley’s residential market sudden downturn was 13% below the same period last year, and 36% below the 10-year seasonal average. New listings also declined for the month, with a 19% drop from July, but still adding 2,793 available homes to the Valley’s already abundant inventory which totalled 10,445 at the end of August. While summer is generally a higher sales period, the swift drop entering fall may be attributed to other factors such as continuing uncertainty in Canada’s economic outlook. The Valley’s abundant inventory has provided an excellent choice for home buyers for several months. Although August closed with 205 homes fewer available homes than the end of July, a strong supply remains in place. Buyers’ market conditions continue with strong supply, slowing demand, and easing prices, making it a most favourable time for home buyers. Prospective buyers will also want to watch for the Bank of Canada’s policy rate announcement scheduled for today, September 17. If the economists who have predicted the central bank will announce another reduction of 25 basis point today are right, commercial mortgage rates can be expected to drop following soon. The current Bank of Canada policy rate 2.75% has held steady since June. Overall market conditions are lining up as incentives for prospective home buyers, so there may a rise in demand after the lull this past month. Easing prices are also serving as a incentive for home purchases. At the end of August, the combined benchmark price for a Fraser Valley residential property was $936,200, a decline of 0.9% from the preceding month.

Please review my monthly selection of comparative benchmark prices for different areas in the Fraser Valley in the section below. For each property type, you will find the overall benchmark price along with three closest average prices  on each side of the benchmark average. The month-over-month price change is also provided as these fluctuations can serve as an indicator of the recent relative demand in a particular area. Note the extremities of each benchmark price provide the range of figures making up the average. It is important to remember that benchmarks are averages. You may find an actual asking price that is closer to your budget, so please don’t hesitate to ask me about any neighborhood you may be interested in. I am happy to provide you with the most up-to-date information on any listed properties. And if you are thinking of selling your home, I can prepare a Customized Market Analysis for you property, and advise you on the optimal listing price in the current market conditions. At the end of August, a Fraser Valley single-family detached home sold on average within 38 days on the market; townhouses sold on average within 32 days of listing; and condominiums within 41 days. Please don’t hesitate to call if I can help you in any way at all.     

Detached Homes

The benchmark price for a detached home in the Fraser Valley at the end of August was $1,436,800, a decrease of 1.0% from the preceding month. The extremities of this average were South Surrey/White Rock at $1,795,500 and Mission at $1,025,400. The three municipalities closest to the benchmark on the higher side of the average were: Cloverdale at $1,440,800, an increase of 0.4% from the preceding month; Surrey at $1,451,500, a decrease of 1.1 from the preceding month; and Langley at $1,590,800, a decrease of 0.5% from the preceding month. The three municipalities closest to the benchmark on the lower side of the average were: North Surrey at $1,423,100, a decrease of 0.9% from the preceding month; North Delta at $1,321,300, a decrease of 0.9% from the preceding month; Abbotsford at $1,171,900, a decrease of 0.7% from the preceding month.

Townhouses

The benchmark price for a townhouse in the Fraser Valley at the end of August was $807,800, a decrease of 0.9% from the preceding month. The extremities of this average were North Delta at $933,000 and Abbotsford at $645,700. The three municipalities closest to the benchmark on the higher side of the average were: Cloverdale at $811,800, a decrease of 1.2% from the preceding month; Langley at $848,100, a decrease of 0.5% from the preceding month; and South Surrey/White Rock at $921,200, 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 $795,900, a decrease of 1.7%% from the preceding month; North Surrey at $764,200, an increase of 1.8% from the preceding month; and Mission at $665,500, a decrease of 1.0% from the preceding month.

Condominiums

The benchmark price for a condominium in the Fraser Valley at the end of August was $514,100, a decrease of 1.0% from the preceding month. The extremities of this average were South Surrey/White Rock at $588,600 and Abbotsford at $421,800. The three municipalities closest to the benchmark on the higher side of the average were Surrey at $547,400, a decrease of 0.4% from the preceding month; North Delta at $514,100, a decrease of 1.0% from the preceding month; and Cloverdale at $572,500, a decrease of 1.4% from the preceding month. The three municipalities closest to the benchmark on the lower side of the average were North Surrey at $445,900, a decrease of 2.7% from the preceding month; Mission at $434,700, a decrease of 1.5% from the preceding month; and Abbotsford at $421,800, a decrease of 1.5% 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.