I have a great market update to share with you today. We took a look at the numbers in Surrey for April 2018 and compared them to the numbers from April 2017 to see how things have changed.
Province-wide, our sales volume is down around 16% in the past year. If you are thinking about selling your home, take notice. You do not want to miss buyers who are out in the market right now.
The two biggest boards in the province that are going to affect these numbers are the Vancouver Board and the Fraser Valley Board. The Fraser Valley Board is up about 22% in the number of listings, and the Vancouver market has seen around a 24% increase. The sales numbers in the Fraser Valley Board is down 24%. The Vancouver market is also down 27% in terms of sales.
How does this affect you in your area? If you are a home seller in Cloverdale, we are seeing a very strong seller’s market. We recently sold a townhouse there about a month ago that got 15 offers.
If you are thinking about buying, it is a great time to buy in the Vancouver west side, Vancouver east side, and the South Surrey detached housing market. There is more supply in these areas than in other places. You can take your time, look around, and probably get a good deal.
Here in Surrey, our prices are up 20% year-over-year, and we are in a pretty balanced market overall.
As you can see, there are a lot of different numbers for a lot of different areas. If you have any questions for me in the meantime, please feel free to give me a call or send me an email any time. I look forward to hearing from you soon.