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.  

METRO VANCOUVER

Sales continue upward trend; large inventory; excellent purchase opportunities

Metro Vancouver residential market saw another month of gradual recovery with July’s sales reaching 2,285, 4.8% above the previous month, although 14 % below the 10-year seasonal average. The continuing upward trend, which started at the beginning of this year, is positive news even as sales lag with many purchasers remaining hesitant in the current economic climate. While the most recent figures are 2.0% below the same month one year ago, the current rise in purchases has taken advantage of the abundant inventory and the resulting price declines. Although new listings in July dropped 11% from the preceding month, they still registered strongly with an 0.8% rise above the same period last year. This brought the number of available homes across all property types at the end of July to a total of 17,168, almost 20% higher than last year at this time, and 12.4% above the 10-year seasonal average. At the end of July the Bank of Canada held its policy rate at 2.75%, the third consecutive hold on the rate after seven consecutive cuts. This key rate has produced mortgage rates at commercial banks around 4.0% for both five-year fixed and five-year variable rate mortgages at present. However, the Bank of Canada noted in its last announcement that while the Canadian economy has so far shown resilience to U.S. tariffs, the magnitude of the tariffs made it impossible for policymakers to offer guidance on the economy. The central bank, nonetheless, expects Canada’s Consumer Price inflation to remain near 2.0% for the medium term. The BoC’s next policy rate announcement is scheduled for September 17. The effect of uncertainty in the economy is no doubt keeping many potential buyers on the sidelines. Market watchers are therefor keeping an eye on prices, which are dropping, with few exceptions, for all property types across Metro Vancouver. Notable exceptions with significant price increases last month were for Single Family Detached home in Burnaby East up 4.5% and in New Westminster up 4.7%; and Townhouses in Ladner up 2.0%. At the end of July, the composite benchmark price for a residential property in Metro Vancouver was $1,165,300, a 0.7% decrease from the preceding month.

Please review my monthly selection below of comparative benchmark prices in different areas of Metro Vancouver. The overall benchmark for each property type is provided along with a cluster of the three closest prices on each side of the benchmark average. The extremities of each average is given so you can get an idea of the range of prices making up the average. Remember that benchmarks are averages, so there may be an actual price concealed in the average that is attractive to you. If you are interested in any particular neighbourhood, I can  provide you with the most up-to-date information on any area. And if you are thinking about listing your home for sale, I can prepare a Customized Market Analysis of your property and advise you on the optimal asking price in the current market conditions. Please don’t hesitate to call. I love to help my clients in anyway I can.           

Detached homes

The benchmark price for a single-family detached home in Metro Vancouver at the end of July was $1,974,400, a decrease of 1.0% from the preceding month. The extremities of this average were Vancouver West at $3,311,800 and Sunshine Coast at $885,100. The three municipalities closest to the benchmark on the higher side of the average were: Port Moody at $2,083,000 a decrease of 1.6% from the preceding month; Richmond at $2,087,000, a decrease of 1.4% from the preceding month; and Burnaby North at $2,130,900, a decrease 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 $1,854,000, an increase of 4.5% from the preceding month; Vancouver East at $1,794,500, a decrease of 2.0% from the preceding month; and Coquitlam at $1,737,100, a decrease of 0.8% from the preceding month.

Townhouses

The benchmark price for a townhouse in Metro Vancouver at the end of July was $1,099,200, a decrease of 0.4% from the preceding month. The extremities of this average were Whistler at $1,6663,800 and Sunshine Coast at $752,600. The three municipalities closest to the benchmark on the higher side of the average were: Vancouver East at $1,117,900, an increase of 1.2% from the preceding month; North Vancouver at 1,314,500, a decrease of 2.8% from the preceding month; and Vancouver West at $1,417,400, a decrease of 1.0% from the preceding month; The three municipalities closest to the benchmark on the lower side of the average were: Coquitlam at $1,093,800, a decrease of 0.2% from the preceding month; Richmond at $1,093,800, a decrease of 0.4% from the preceding month; and Burnaby South at $1,074,500, a decrease of 0.1% from the preceding month.

Condominiums                           

The benchmark price for a condominium in Metro Vancouver at the end of July was $743,700, a decrease of 0.6% from the preceding month. The extremities of this average were: West Vancouver at $1,300,500 and Sunshine Coast at $503,800. The three municipalities closest to the benchmark on the higher side of the average were: Burnaby East $765,600, a decrease of 1.0% from the preceding month; Burnaby South at $808,700, a decrease of 0.3% from the preceding month; and North Vancouver at $818,500, an increase of 0.2% from the preceding month. The three municipalities closest to the benchmark on the lower side of the average were: Port Moody at $731,900, a decrease of 1.3% from the preceding month; Richmond at $709,800, an increase 0.1% from preceding month; and Coquitlam at $705,400, 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

Sales slow but remain steady; abundant supply with prices declining

Dipping negligibly by 0.4% from its previous upward trend, the Fraser Valley’s slight sales decline in July was a mere five transactions below the 1,195 recorded in June. In a broader context, July’s sales, while slow, were down only 3.0% compared with the same period one year ago. More significantly, on a 10-year average the Valley’s sales were down by 23%, an better indicator of buyer hesitancy in a season when prospective home shoppers are normally more active. The lingering economic uncertainty from international trade tariffs initiated by the United States earlier this year remains the dominant psychological factor producing caution among home buyers. Even with  mortgage rates in the 4.0% range for qualified buyers, Canada’s unemployment has risen and job security threatened in the current economic climate. The Bank of Canada held its key policy rate cautiously at 2.75% for the third consecutive  announcement at the end of July. At the same time, the central bank noted the Canadian economy’s resiliency so far and expects Consumer Price inflation to remain near 2.0% for the medium term.  The next BoC rate announcement is scheduled for September 17. In the meantime, the Fraser Valley remains a buyer’s market with an abundant inventory and declining prices across all property types. Despite a dip in new listings to 3,453 in July, down 4.5% from the preceding month, the Valley’s supply of 10,650 available homes at the end of the month was close to 50% above the 10-year seasonal average. While many buyers remain on the sidelines, newly listed homes are selling relatively quickly. During July, the average length of time to sell a single family detached home, or a condominium, was 38 days; for townhouses it was 35 days. Declining prices also make for excellent purchase opportunities at this time. At the end of July, the combined benchmark price for residential property in the Fraser Valley was $944,800, a 0.7% decline from the preceding month.

My monthly selection below of comparative benchmark prices in the Fraser Valley offers a guide to home shoppers in different municipal areas. The month-over month price changes typically reflect relative sales activity in an area. For each property type, the overall benchmark price has a cluster of the three closest prices on each side of the average. You can also use the extremities provided for each average to see the range of prices making up the average. Benchmarks are averages for properties with comparable feature so much of the price difference is reflective of the location of the property. Remember that there may be actual prices concealed in an average are more attractive to your budget, so please feel free to call me for the latest information on listings in any neighbourhood of your choice.  And if you are thinking of listing your home for sale, 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 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 July was $1,451,100, a decrease of 0.6% from the preceding month. The extremities of this average were South Surrey/White Rock at $1,837,300 and Mission at $1,033,100. The three municipalities closest to the benchmark on the higher side of the average were: Surrey at $1,468,200, a decrease of 0.8% from the preceding month; Langley at $1,598,600, a decrease of 0.1 from the preceding month; and South Surrey/White Rock at $1,837,300 a decrease of 0.5% from the preceding month. The three municipalities closest to the benchmark on the lower side of the average were: Cloverdale at $1,435,599, a decrease of 0.3% from the preceding month; North Surrey at $1,435,300, a decrease of 0.9% from the preceding month; North Delta at $1,333,600, an increase of 0.8% from the preceding month.

Townhouses

The benchmark price for a townhouse in the Fraser Valley at the end of July was $814,900, a decrease of 1.1% from the preceding month. The extremities of this average were South Surrey/White Rock at $928,200 and Abbotsford at $653,400. The three municipalities closest to the benchmark on the higher side of the average were: Cloverdale at $821,500, a decrease of 2.4% from the preceding month; Langley at $852,300, a decrease of 0.9% from the preceding month; and South Surrey/White Rock at $928,200, a decrease of 0.7% from the preceding month. The three municipalities closest to the benchmark on the lower side of the average were: Surrey at $809,300, a decrease of 1.8%% from the preceding month; North Surrey at $750,800, a decrease of 1.5% from the preceding month; and Mission at $663,000, an increase of 0.5% from the preceding month.

Condominiums

The benchmark price for a condominium in the Fraser Valley at the end of July was $519,300 a decrease of 1.4% from the preceding month. The extremities of this average were South Surrey/White Rock at $584,400 and Abbotsford at $424,400. 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 $555,800, a decrease of 1.4% from the preceding month; and Cloverdale at $580,700, an increase of 1.0% from the preceding month. The three municipalities closest to the benchmark on the lower side of the average were North Surrey at $458,200, a decrease of 1.1% from the preceding month; Mission at $451,500, a decrease of 2.6% from the preceding month; and Abbotsford at $424,400, a decrease of 3.9% 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

Inventory grows, sales lag; benchmark prices dropping  

At the mid-year mark, Metro Vancouver’s residential market continued its slow recovery trending since the start of 2025. June’s total of 2,181 sales was only 305 over the previous month, a dip of 2.0% from the preceding month. On a year-over-year comparison, however, the 10% decrease was a considerable improvement over 20% decline for the same period last year. It appears that many potential buyers remain hesitant to make a commitment to a home purchase while general economic uncertainty persists in the current climate of international trade tensions and tariff wars. The rapid advance of Canada’s reduction in its own internal trade barriers is providing some economic optimism for the country. For those buyers currently taking advantage of the excellent selection of homes, last month’s 6,315 new listings across all property types continued significantly to outpace sales bringing the total inventory at the end of June to 17,561 available properties, close to 44% above the 10-year seasonal average. Condominiums remained the highest number of sold properties followed by detached homes and townhouses respectively. Notably, the benchmark prices for all property type declined slightly, with the biggest decrease also for condominiums at 1.2% for the month. This peculiar inverse of demand and price in the case of condominium sales should be watched by shoppers who have been holding off for lower prices in a previously overheated market segment. Overall purchase conditions in the midst of an abundance of choice are very favourable to buyers. The current Bank of Canada policy rate remains at 2.75%. With the next rate announcement scheduled for July 30, five of Canada’s big six banks forecast the rate will be further reduced by the end of this year. Both variable and five-year fixed mortgage rates at commercial lenders remain on average in a range between 4%-5%. With relatively stable prices across the marketplace, a relaxed purchase environment offers an excellent buying opportunity. At the end of June, the composite benchmark price for a residential property in Metro Vancouver was $1,173,100, a 0.4% decrease from the preceding month.

Please review my monthly selection below of comparative benchmark prices for each property type in different areas of Metro Vancouver. The month-over-month price changes also shown are typically fluctuations reflecting the relative demand in an area.  Each overall benchmark average represents an index for comparable homes. But remember that benchmarks are averages. They provide you with a guide to shopping within in your budget. The range of prices for each average is indicated by the price extremities shown, so there may be a particular actual asking price not visible in the average that is more attractive to your budget.  For specific listed prices in any neighbourhood, please don’t hesitate to call me. I can provide you with the most up-to-date listing information; and if you are thinking of selling your home, I can prepare a Customized Market Analysis for your property and advise you on the optimal asking price in the current market conditions.  

Detached homes

The benchmark price for a single-family detached home in Metro Vancouver at the end of June was $1,994,500, a decrease of 0.1% from the preceding month. The extremities of this average were Vancouver West at $3,399,000 and Sunshine Coast at $891,600. The three municipalities closest to the benchmark on the higher side of the average were: Port Moody at $2,116,200, an increase of 1.9% from the preceding month; Richmond at $2,117,100, an increase of 0.8% from the preceding month; and Burnaby North at $2,131,900, 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 East at $1,869,700, an increase of 0.1% from the preceding month; Vancouver East at $1,831,800, an increase of 0.2% from the preceding month; and Coquitlam at $1,750,800, a decrease of 1.6% from the preceding month.

Townhouses

The benchmark price for a townhouse in Metro Vancouver at the end of June was $1,103,900, a decrease of 0.3% from the preceding month. The extremities of this average were Whistler at $1,672,900 and Sunshine Coast at $756,900. The three municipalities closest to the benchmark on the higher side of the average were: Vancouver East at $1,104,400, a decrease of 1.5% from the preceding month; North Vancouver at 1,351,100, an increase of 0.1% from the preceding month; and Vancouver West at $1,432,300, an increase of 1.0% from the preceding month; The three municipalities closest to the benchmark on the lower side of the average were: Richmond at $1,098,300, a decrease of 2.5% from the preceding month; Coquitlam at $1,096,600, an increase of 1.1% from the preceding month; and Burnaby South at $1,075,700, an increase of 0.4% from the preceding month.

Condominiums                           

The benchmark price for a condominium in Metro Vancouver at the end of June was $748,400, a decrease of 1.2% from the preceding month. The extremities of this average were: West Vancouver at $1,324,500 and Sunshine Coast at $509,700. The three municipalities closest to the benchmark on the higher side of the average were: Burnaby East $773,200, a decrease of 2.3% from the preceding month; North Vancouver at $817,600, an increase of 0.2% from the preceding month; and Vancouver West at $824,500, 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 $741,300, an increase of 0.7% from the preceding month; Burnaby North at $724,900, an increase 1.5% from preceding month; and Coquitlam at $710,800, a decrease of 1.8% 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

Sales slow but steadily rising; huge supply; price declines create great buyer opportunities  

Fraser Valley homes sales continued their slow upward climb last month, rising 1.6% over May for a June total of 1,195. And while June’s new listings saw a 10% decline from the preceding month, an impressive addition of 3,618 homes pushed the Valley’s inventory up by 2.0% at the end of June, close to 11,000 available homes, 30% higher than one year ago. The huge selection, however, has not yet incentivized many potential buyers who remain reluctant to move from the sidelines during this current period of economic uncertainty. Prospective buyers are also waiting for the Bank of Canada’s next policy rate announcement on July 30. While the central bank has forecast another rate cut from the current 2.75% before the end of this year, a growing number of economists believe there will be small reduction at the end of the month. While other sectors of the economy are shifting gears to deal with the pressures of international trade tariffs, the Fraser Valley’s residential market continues as a buyers’ market affording some room for negotiations at the current time. A relatively stable market, within a single percentage point in its sales-to-listings ratio for a technically balanced definition, it offers an abundant selection for home shoppers in all property categories. Home prices are also responding, absent the normal demand at this time of year, with price declines noted across all areas of the Valley. Notable price drops in the last month were found in South Surrey/White Rock with a 2.3% decline for detached homes; 2.2% decline in townhouses; and a 2.9% decline in condominiums. Other significant price declines included detached homes in Cloverdale with a 3.6% drop; and townhouses in North Delta with a 5.1% drop. At the end of June, the combined benchmark price for a residential property in the Fraser Valley was $951,500, a 1.2% decline from the preceding month.           

In the section below, my monthly selection of comparable homes in different areas of the Fraser Valley provides a benchmark price comparison as shopping guide. For each property type you will find an overall benchmark average with a cluster of the three closest prices on the upper and lower sides of the benchmark. By noting the extremities of each average, you will glean an idea of the range of prices making up the average. The month-over-month price fluctuations typically represent the relative market activity in an area. It is important to remember that benchmarks are averages, so the actual specific asking price of a home in a neighbourhood of your interest may be attractive to your budget. Please call me if you would like the most up-to-date listing information for any area. And if you are interested in listing your home for sale, I can prepare a Customized Market Analysis for your property and advise you on the optimal asking price in the current market conditions. During the month of June, the average length of time number of days for a single family detached home to remain on the market before selling was 35 days; for condominiums it was an average of 39 days; and townhouses averaged 30 days.    

Detached Homes

The benchmark price for a detached home in the Fraser Valley at the end of June was $1,458,600, a decrease of 1.6% from the preceding month. The extremities of this average were South Surrey/White Rock at $1,846,800 and Mission at $1,026,700. The three municipalities closest to the benchmark on the higher side of the average were: Cloverdale at $1,462,500, a decrease of 3.6% from the preceding month; Langley at $1,600,800, a decrease of 1.9% from the preceding month; and Surrey at $1,480,200, a decrease of 1.8% from the preceding month. The three municipalities closest to the benchmark on the lower side of the average were: North Surrey at $1,447,600, a decrease of 0.3% from the preceding month; Abbotsford at $1,190,600, a decrease of 1.0% from the preceding month; Mission at $1,206,700, an increase of 0.7% from the preceding month.

Townhouses

The benchmark price for a townhouse in the Fraser Valley at the end of May was $921,900, a decrease of 5.1% from the preceding month. The extremities of this average were South Surrey/White Rock at $935,000 and Abbotsford at $655,300. The three municipalities closest to the benchmark on the higher side of the average were: Cloverdale at $841,500, a decrease of 0.6% from the preceding month; Langley at $859,700, a decrease of 0.5% from the preceding month; and North Delta at $921,900, a decrease of 5.1% from the preceding month. The three municipalities closest to the benchmark on the lower side of the average were: Surrey at $824,200, a decrease of 0.6%% from the preceding month; North Surrey at $762,300, a decrease of 0.6% from the preceding month; and Mission at $659,600, a decrease of 2.4% from the preceding month.

Condominiums

The benchmark price for a condominium in the Fraser Valley at the end of May was $526,500, a decrease of 1.2% from the preceding month. The extremities of this average were Langley at $599,800 and Abbotsford at $441,600. The three municipalities closest to the benchmark on the higher side of the average were Surrey at $547,800, a decrease of 1.1% from the preceding month; North Delta at $558,000, a decrease of 1.4% from the preceding month; and South Cloverdale at $575,0000, a decrease of 1.8% from the preceding month. The three municipalities closest to the benchmark on the lower side of the average were North Surrey at $463,400, a decrease of 1.6% from the preceding month; Mission at $453,200, an increase of 1.1% from the preceding month; and Abbotsford at $441,600, an increase 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.  

METRO VANCOUVER

Sales inch up while economic uncertainty continues; huge inventory, purchase opportunities.

Meto Vancouver’s residential market saw little difference in actual transactions in May, while prospective buyers showed apparent indifference to the rising inventory. Total sales for the month inched slightly higher with a 3% increase over the previous month, for a total of 2,228 homes sold. On an historical comparison, May’s sales volume was down close to 19% from the same period last year, and 31% below the 10-year seasonal average. New listings this past May declined by 3% from the preceding month but still accounted for 6,620 homes added to the existing inventory, pushing up the supply across all property type to its highest level in a decade. At the end of May there were total of 17,094 available properties in Metro Vancouver. Unlike the historical comparison for sales, however, May’s new listings were close to 4% above the same month one year ago, and 9.3% above the 10-year seasonal average. The current abundance of available homes in the Metro Vancouver market makes it clear that it is not a lack of choice that is keeping home buyers on the sidelines. Nor is it that mortgage borrowing costs can be causing buyer hesitancy. While the Bank of Canada, in its most recent policy rate announcement one week ago, maintained its current rate at 2.75% in face of consumer price inflation still of concern in some areas, financing home purchases has eased considerably over the past year. Fixed rates, with either 3-year and 5-year fixed options, are currently around 4.44% to 4.64%; variable rates are slightly higher with a 5-year variable option now typically in the range of 4.79%. However, the central bank noted  the ups and downs of recent tariff announcements by the USA has created extreme uncertainty in international trade negotiations along with a spill-over effect in the Canadian economy in general. This uncertainty remains high as persistent threats of more trade sanctions and risks of declining Canadian exports, and with such economic uncertainty, buyer hesitancy is understandable. Nonetheless, in the current climate of low demand, increase in home prices are only modest where they occur, whle price declines can now be found that can amount to significant savings for buyers. At the end of May, the composite benchmark price for a residential property in Metro Vancouver was $1,177,100, a 0.6 % decline from the preceding month.   

Please take a look at my monthly comparison of benchmark prices across Metro Vancouver in the section below. For each property type, you will find the overall benchmark  price with a cluster of the closest benchmark price on each side of the average for different areas in Metro Vancouver. Use these comparisons as guide to where you may find a property that meets your home shopping budget. The range of prices making up each benchmark average can also assist in understanding the composition of the average price. Remember that that there may be wide number of actual prices making up the average, and so concealing an attractive price for suited to your budget. Please give me a call if you are interested in looking at a home in a specific neighbourhood. I can provide you with the most up-to-date information on listings. And if you are thinking about selling your home, I can assist you setting the most optimal asking price for your property.

Detached homes

The benchmark price for a single-family detached home in Metro Vancouver at the end of May was $1,997,400, a decrease of 1.2% from the preceding month. The extremities of this average were Vancouver West at $3,363,100 and Sunshine Coast at $878,000. The three municipalities closest to the benchmark on the higher side of the average were: Port Moody at $2,075,700, an increase of 0.6% from the preceding month; Burnaby North at $2,094,100, a decrease of 3.5% from the preceding month; and Richmond at $2,171,000, a decrease of 2.4% from the preceding month. The three municipalities closest to the benchmark on the lower side of the average were: Burnaby East at $1,867,200, a decrease of 5.2% from the preceding month; Vancouver East at $1,828,600, a decrease of 1.3% from the preceding month; and Coquitlam at $1,778,300, a decrease of 0.7% from the preceding month.

Townhouses

The benchmark price for a townhouse in Metro Vancouver at the end of May was $1,106.800, an increase of 0.4% from the preceding month. The extremities of this average were Vancouver West at $1,419,000 and Sunshine Coast at $763,400. The three municipalities closest to the benchmark on the higher side of the average were: Vancouver East at $1,120,900, an increase of 2.0% from the preceding month; Richmond at 1,123,700, an increase of 1.2% from the preceding month; and North Vancouver at $1,351,400, a decrease of 0.9% from the preceding month; The three municipalities closest to the benchmark on the lower side of the average were: Coquitlam at $1,085,000, an increase of 0.4% from the preceding month; Burnaby South at $1,071,000, an increase of 0.4% from the preceding month; and Port Moody at $1,040,400, a decrease of 0.3% from the preceding month.

Condominiums                           

The benchmark price for a condominium in Metro Vancouver at the end of May was $757,300, a decrease of 0.7% from the preceding month. The extremities of this average were: West Vancouver at $1,289,800 and Maple Ridge at $525,000. The three municipalities closest to the benchmark on the higher side of the average were: Burnaby East $791,500, an increase of 0.3 from the preceding month; Burnaby South at $812,200, a decrease of 2.9% from the preceding month; and North Vancouver at $815,900, an increase of 0.1% from the preceding month. The three municipalities closest to the benchmark on the lower side of the average were: Port Moody at $746,900, an increase of 1.6% from the preceding month; Burnaby North at $736,200, a decrease 1.0% from preceding month; and Coquitlam at $724,000, a decrease of 0.7% 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

Sales resume upward trend seen in first quarter of year; large supply; prices declining.

Fraser Valley home sales in May resumed the rising trend seen in the first quarter of this year, after a dip in the month of April. May’s total sales of 1,183 was a sharp rise of 13% over the preceding month, an optimistic sign that the market rebound that led the opening of 2025 was going to continue. While still underperforming by historical levels – 22% below the same period one year ago, and 36% below the 10-year seasonal average – the Valley’s May total boosted sagging home buyer confidence as Canada’s economy has come under attack from outsized U.S. trade tariffs impacting key sectors in the country. The May sales uptick was also accompanied another lift of 6% in new listings over the preceding April. This brought the Valley’s inventory at the end of May to 10,626 available homes across all property types, an increase of 34% over the same month one year ago, and 54% above the 10-year seasonal average. While many prospective home buyers remain cautiously on the sidelines and uncertainty continues for our export-reliant economy, there are still positives to be seen in the home buying space. Last week, while the Bank of Canada announced it hold steady for the time being with its 2.75% policy rate, the central banks governing council suggested there may be further rates to come as the country navigates through challenging times in the current U.S.-induced trade war. However, commercial mortgage rates are in a manageable range for most buyers now, significantly under 5% for both fixed and variable rates. At the same time, Valley prices remain highly attractive compared to Metro Vancouver comparable properties. Last month the benchmark price for single family detached home decreased 1.6% from the preceding month, and was down 3.2% from one year ago; townhouse benchmarks dropped 0.03% from the preceding month and were down 2.5% from one year ago; and condominiums decreased by 4.0% from the preceding month and were down 4.0% from one year earlier . At the end of May, the overall benchmark price for a residential property in the Fraser Valley was $983,300, a decline of 1.0% from the preceding month.

In my monthly selection below you will find a helpful guide to comparable benchmark prices in different areas of the Fraser Valley. Each benchmark average has clustered on each side of the average the closest prices to comparable properties in different areas. The extremities on each average is provided so you have an idea of the range of prices making up the average. Remember that as averages, these prices may not capture a specific listed price that is attractive to a buyer. The month-over-month price changes are typically fluctuations reflecting the present activity in the market, and do not generally represent long term trends. If you are interested in exploring listings in any particular municipality, please let me know and I can provide the most up-to-date information for you. And if you are thinking of listing your, I can advise you on the optimal asking price in the current market.

Detached Homes

The benchmark price for a detached home in the Fraser Valley at the end of May was $1,481,900, a decrease of 1.7% from the preceding month. The extremities of this average were South Surrey/White Rock at $1,888,900 and Mission at $1,019,100. The three municipalities closest to the benchmark on the higher side of the average were: Surrey at $1,506,800, a decrease of 1.7% from the preceding month; Cloverdale at $1,517,000, a decrease of 0.7% from the preceding month; and Langley at $1,632,100, a decrease 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 $1,451,000, a decrease of 2.2% from the preceding month; North Delta at $1,335,200, a decrease of 4.9% from the preceding month; Abbottsford at $1,202,700, a decrease of 0.7% from the preceding month.

Townhouses

The benchmark price for a townhouse in the Fraser Valley at the end of May was $832,800, a decrease of 0.03% from the preceding month. The extremities of this average were South Surrey/White Rock at $956,000 and Abbotsford at $660,600. The three municipalities closest to the benchmark on the higher side of the average were: Cloverdale at $946,800, an increase of 0.1% from the preceding month; Langley at $863,600, an increase of 0.2% from the preceding month; and South Surrey/White Rock at $956,000, an increase of 0.2% from the preceding month. The three municipalities closest to the benchmark on the lower side of the average were: Surrey at $826,500, a decrease of 1.2%% from the preceding month; North Surrey at $766,600, an increase of 1.1% from the preceding month; and Mission at $676,100, an increase of 2.1% from the preceding month.

Condominiums

The benchmark price for a condominium in the Fraser Valley at the end of May was $532,700, an increase of 1.0% from the preceding month. The extremities of this average were South Surrey/White Rock at $606,900 and Abbotsford at $453,000. The three municipalities closest to the benchmark on the higher side of the average were Surrey at $554,000, a decrease of 0.7 from the preceding month; North Delta at $565,600, an increase of 0.4% from the preceding month; and South Surrey/White Rock at $606,900, a decrease of 0.1% from the preceding month. The three municipalities closest to the benchmark on the lower side of the average were North Surrey at $470,900, a decrease of 0.8% from the preceding month; Mission at $453,000, an increase of 1.1% from the preceding month; and Abbotsford at $435,000, 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.  

Sales drop amid tariff concerns; high inventory; buyer opportunities

Metro Vancouver’s April home sales showed a meagre 3% increase over the preceding month, with a total of 2,163 inching above March sales of 2.091. Similarly, new listings for April totalled 6,850, a 6.1% increase over March’s 6,455   new listings. April’s sales decline has come at time when there were early signs of optimism in the Metro Vancouver market, which had been steadily showing higher month-over-month increases since the beginning of the year. On a longer historical comparison, April sales were 28% below, and new listings 20% above,  the 10-year seasonal average. This compares with March sales 39% below, and new listings 16% above, the 10 year average. In other words, on a 10 year average, we see an improvement in both measures in the current market. Nonethless, new listings in recent months have outpaced sales, creating an extraordinary abundance with a total inventory at the April of 16,207 homes across all property types. This robust supply is close to 30% above the same period one year ago, and 47.6% above the 10 year average. Yet, while this inventory continues to ballon, prospective buyers are holding back at a time of year when home purchases normally surge. Analysts point to exogenous factors to explain this atypical behaviour, with general economic uncertainty arising from U.S. trade tariffs disrupting markets, and mounting fear of economic recession. However, there are incentives to consider for home purchase at this time, in particular, lower borrowing costs as mortgages rates have declined with central bank rate cuts. With the Bank of Canada policy rate holding steady at 2.75% since April, commercial five year mortgage rates can now be found as low as 3.84% for fixed, and 3.95% variable. Prospective buyers should watch for the Bank of Canada rate announcement scheduled for June 4. Prices are also a purchase  incentive to consider at this time. With such high inventory levels, prices are generally stable, or declining, and buyers have some leverage to negotiate as well.

At the end of April, the composite benchmark price for residential property in Metro Vancouver was $1,184,500, a 1.8% decrease from the preceding month.     

I invite you to peruse my monthly selection of comparative benchmark prices in different areas of Metro Vancouver below. Each property type has the overall benchmark price with a cluster of the closest average prices on the upper and lower sides of the benchmark average of comparable properties in different geographical areas. The month-over-over month price changes give you an idea  of the market activity that produces these fluctuations. The extremities of each benchmark price is also provided to show the range of prices making up the average. It is important, also, to remember that benchmarks are averages –  so you may find an attractive actual price. Please call me for additional information if you are interested in any particular neighborhood. I can provide you with the most up-to-date information. And if you are interested in listing your property for sale, I can advise you on the optimal asking price in the current market conditions.

Detached homes

The benchmark price for a single-family detached home in Metro Vancouver at the end of April was $2,021,800, a decrease of 0.6% from the preceding month. The extremities of this average were Vancouver West at $3,427,100 and Sunshine Coast at $840,000. The three municipalities closest to the benchmark on the higher side of the average were: Port Moody at $2,060,600, a decrease of 2.4% from the preceding month; Richmond at $2,155,200, a decrease of 0.7% from the preceding month; and Burnaby North at $2,171,000, 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 $1,969,200, a decrease of 1.3 from the preceding month; Vancouver East at $1,852,000, a decrease of 0.1% from the preceding month; and Coquitlam at $1,792,100, a decrease of 1.2% from the preceding month.

Townhouses

The benchmark price for a townhouse in Metro Vancouver at the end of April was $1,102,300, an increase of 0.1% from the preceding month. The extremities of this average were Whistler at $1,642,100 and Sunshine Coast at $753,700. The three municipalities closest to the benchmark on the higher side of the average were: Richmond at $1,110,300, a decrease of 1.2% from the preceding month; Vancouver East at 1,128,400, a decrease of 2.7% from the preceding month; and North Vancouver at $1,325,300, a decrease of 0.9% from the preceding month; The three municipalities closest to the benchmark on the lower side of the average were: Coquitlam at $1,081,400, a decrease of 0.2% from the preceding month; Port Moody at $1,043,800, an increase of 0.9% from the preceding month; and Ladner at $1,034,300, an increase of 0.2% from the preceding month.

Condominiums                           

The benchmark price for a condominium in Metro Vancouver at the end of April was $762,800, a decrease of 0,6% from the preceding month. The extremities of this average were: West Vancouver at $1,216,700 and Sunshine Coast at $507,500. The three municipalities closest to the benchmark on the higher side of the average were: Burnaby East at $789,200, an increase of 0.7 from the preceding month; North Vancouver  at $815,200, a decrease of 0.3% from the preceding month; and Burnaby South at $836,900, a decrease of 0.1% from the preceding month. The three municipalities closest to the benchmark on the lower side of the average were: Burnaby North at $743,400, a decrease of 1.8% from the preceding month; Port Moody at $734,900, a decrease 0.4% from preceding month; and Richmond at $732,500, 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.  

Sales slump; huge inventory; prices decline in buyer’s market

The noticeable slump in the Fraser Valley residential market this past April is being attributed to the psychological shock felt throughout all sectors of the Canadian economy, as tariffs and rumours of tariffs emanating from the USA take their toll  on consumer confidence around the world. There is no doubt that at the local level the shock has dampened the previous home buying momentum that had been steadily building since the start of this year. In purely statistical terms, the decline may appear catastrophic – sales increasing for the month of April by a meagre .06%. Looking at the Valley home sales total of 1,043, however, one is reminded it is the suddenness of the drop, not its depth, that causes the queasy feeling in one’s stomach, like a roller coaster that plunges quickly but only after it has reached an significant height. The other side of the market is its robust inventory with more than 10,000 available homes across all property types. While new listings themselves were down a slight 1.0% last month, the total supply at the end of April is the highest it’s been in 10 years. From a buyer’s perspective, the slow sales pace creates an ideal time for home shopping, and lower mortgage rates have relieved much of the financial stress seen in previous months. With the Bank of Canada’s policy rate continuing to hold at 2.75%, commercial bank mortgages are currently offering five year fixed rates as low as 3.85% and 5 year variable rates as low as 3.99%. And with the overall sales-to-active listings ratio at 10%, the prevailing buyer’s market presents an opportunity for price negotiation without the stress of upward price pressure. The Fraser Valley residential market’s price level compared with other areas in Lower Mainland is still under the $1-million threshold, making the Valley one of the best value for money investments in residential investments in the region. At the end of April, the Valley’s combined benchmark price for a residential property was $972,700, a 0.2% decline from the preceding month.   

In the section below, you will find my monthly selection of comparative prices for each property type in different areas of the Fraser Valley. The benchmarks are average prices for comparable homes. The month-over-month price changes express the normal fluctuations from the relative market activity in the area for the last month. Keep in mind that the benchmarks are averages – the extremities of each average are provided so you have an idea of the range of prices composing the average. These benchmark averages are useful as a guide for your shopping budget. If you should be interested in a particular area, please give me a call. I can supply you with the most up-to-date information on any listed property. And if you are thinking of selling you home, I can provide a Customized Market Analysis for you property and advise you on the optimal asking price in the current market conditions. For Fraser Valley listing, the average length of time for single family home to sell was 32 days; for townhouses and condominiums, it was 29 days.

Detached Homes

The benchmark price for a detached home in the Fraser Valley at the end of April was $1,506,600, an increase of 0.1% from the preceding month. The extremities of this average were South Surrey/White Rock at $1,910,800 and Mission at $1,062,100. The three municipalities closest to the benchmark on the higher side of the average were: Cloverdale at $1,527,500, an increase of 0.1% from the preceding month; Surrey at $1,533,200, an increase of 0.2% from the preceding month; and Langley at $1,650,700, an increase of 1.0% from the preceding month. The three municipalities closest to the benchmark on the lower side of the average were: North Surrey at $1,483,100, a decrease of 1.6% from the preceding month; North Delta at $1,404,100, an increase of 0.8% from the preceding month; Abbotsford at $1,211,800, a decrease of 1.1% from the preceding month.

Townhouses

The benchmark price for a townhouse in the Fraser Valley at the end of April was $833,100, a decrease of 0.1% from the preceding month. The extremities of this average were South Surrey/White Rock at $954,400 and Mission at $662,200. The three municipalities closest to the benchmark on the higher side of the average were: Surrey at $836,100, a decrease of 0.9% from the preceding month; Cloverdale at $845,900, an increase of 0.5% from the preceding month; and Langley at $861,800, a decrease of 0.4% from the preceding month. The three municipalities closest to the benchmark on the lower side of the average were: North Surrey at $758,400, an increase of 0.8% from the preceding month; Mission at $662,200, a decrease of 0.9% from the preceding month; and Abbotsford at $665,700, a decrease of 0.1% from the preceding month.

Condominiums

The benchmark price for a condominium in the Fraser Valley at the end of April was $537,800 decrease of 0.6% from the preceding month. The extremities of this average were South Surrey/White Rock at $619,400 and Abbotsford at $438,000. The three municipalities closest to the benchmark on the higher side of the average were Surrey at $552.600, an increase of 1.2% from the preceding month; North Delta at $563,500, an increase of 1.6% from the preceding month; and Cloverdale at $596,100, a decrease of 1.1% from the preceding month. The three municipalities closest to the benchmark on the lower side of the average were North Surrey at $474,500, a decrease of 0.1% from the preceding month; Mission at $448,300, a decrease of 1.6% from the preceding month; and Abbotsford at $438,000, a decrease of 1.3% 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.