Welcome to the October 2023 edition of our Fraser Valley Real Estate Stats blog, your trusted beacon in the ever-evolving landscape of real estate within this picturesque region of British Columbia, Canada. As we step into another month of exploration, our commitment remains steadfast: to furnish you with invaluable insights and trends that empower both prospective buyers and sellers. Whether you’re in pursuit of your dream home, pondering astute investments, or simply captivated by the current rhythm of the Fraser Valley real estate market, our comprehensive analysis serves as your guiding light. Join us on this journey as we navigate the intricate nuances of the October 2023 Fraser Valley real estate market, providing a treasure trove of information to aid your decision-making process with confidence.
Surrey
SURREY DETACHED: The market for detached homes in Surrey is currently a buyer’s market, with a 9% sales ratio average (9 in 100 homes selling rate). Homes in this category are selling on average for 4% below the list price. The most active price band is between $1 million to $1.25 million, with an average 35% sales ratio, indicating a seller’s market within this price range. For buyers seeking the best opportunities, consider homes between $3 million to $3.5 million in East Newton and Whalley, especially those with up to 2-bedroom properties. Sellers are more likely to find success in Guildford and Royal Heights, particularly with 3 to 4-bedroom properties. Please note that there is a minimum inventory of 10 in most instances.
SURREY ATTACHED: The market for attached homes in Surrey is currently a balanced market, with a 15% sales ratio average (1.5 in 10 homes selling rate). Homes in this category are selling on average for 100% of the list price. The most active price band is between $400,000 to $500,000, with an average 22% sales ratio, indicating a seller’s market within this price range. For buyers seeking the best opportunities, consider homes between $900,000 to $1 million in Panorama Ridge, Queen Mary Park, West Newton, and Whalley, especially those with 3 or more bedrooms. Sellers are more likely to find success in Fleetwood Tynehead and Guildford, particularly with 2-bedroom properties. Please note that there is a minimum inventory of 10 in most instances.
White Rock
S SURREY WHITE ROCK DETACHED: The market for detached homes in South Surrey and White Rock is currently a buyer’s market, with an 11% sales ratio average (1.1 in 10 homes selling rate). Homes in this category are selling on average for 5% below the list price. The most active price band is between $1.5 million to $1.75 million, with an average 25% sales ratio, indicating a seller’s market within this price range. For buyers seeking the best opportunities, consider homes between $2 million to $2.25 million in Morgan Creek and Pacific Douglas, especially those with a minimum of 7 bedrooms. Sellers are more likely to find success in Elgin Chantrell, particularly with up to 2-bedroom properties. Please note that there is a minimum inventory of 10 in most instances.
S SURREY WHITE ROCK ATTACHED: The market for attached homes in South Surrey and White Rock is currently a seller’s market, with a 22% sales ratio average (2.2 in 10 homes selling rate). Homes in this category are selling on average for 3% below the list price. The most active price band is between $500,000 to $600,000, with an average 44% sales ratio, indicating a strong seller’s market within this price range. For buyers looking for the best opportunities, consider homes between $1.25 million to $1.5 million in Grandview, Pacific Douglas, and White Rock, especially those with a minimum of 4 bedrooms. Sellers are more likely to find success in Morgan Creek, particularly with 3-bedroom properties. Please note that there is a minimum inventory of 10 in most instances.
North Delta
NORTH DELTA DETACHED: The market for detached homes in North Delta is currently a balanced market, with a 16% sales ratio average (1.6 in 10 homes selling rate). Homes in this category are selling on average for 4% below the list price. The most active price band is between $1 million to $1.25 million, with an average sales ratio of over 100%, indicating a strong seller’s market within this price range. For buyers seeking the best opportunities, consider homes between $2 million to $2.25 million in Scottsdale, especially those with a minimum of 5 bedrooms. Sellers are more likely to find success in Annieville and Sunshine Hills Woods, particularly with 3 to 4-bedroom properties. Please note that there is a minimum inventory of 10 in most instances.
NORTH DELTA ATTACHED: The market for attached homes in North Delta is currently a seller’s market, with a 37% sales ratio average (3.7 in 10 homes selling rate). Homes in this category are selling on average for 4% above the list price. However, the most active price band is between $500,000 to $600,000, indicating a slight shift towards a buyer market within this price range with an average 12% sales ratio. For buyers seeking the best opportunities, consider homes in Nordel and Sunshine Hills Woods, particularly those with up to 1 bedroom. Sellers, on the other hand, are more likely to find success in Scottsdale, especially with 2 to 3-bedroom properties. Please note that there is a minimum inventory of 10 in most instances.
Cloverdale
CLOVERDALE DETACHED: The market for detached homes in Cloverdale is currently in a balanced state, with an 18% sales ratio average (1.8 in 10 homes selling rate). Homes in this category are selling on average for 2% below the list price. The most active price band falls between $1.25 million to $1.5 million, indicating a seller market with an average 37% sales ratio within this price range. For buyers looking for the best opportunities, consider homes between $1.75 million to $2 million, especially in Clayton and minimum 7-bedroom properties. Sellers are likely to have success in selling homes in Cloverdale, particularly those with 3 to 4 bedrooms. Keep in mind that there is a minimum inventory of 10 in most instances.
CLOVERDALE ATTACHED: The market for attached homes in Cloverdale is currently a sellers’ market with a 31% sales ratio average (3.1 in 10 homes selling rate). Homes in this category are selling on average for 1% below the list price. The most active price band is between $400,000 to $500,000, indicating a strong seller market with an average 60% sales ratio within this price range. For buyers looking for the best opportunities, consider homes between $600,000 to $700,000, especially in Clayton, and minimum 4-bedroom properties. Sellers are likely to have success in selling homes in Cloverdale, particularly those with up to 1 bedroom. Keep in mind that there is a minimum inventory of 10 in most instances.
Langley
LANGLEY DETACHED: The market for detached homes in Langley is currently balanced with a 15% sales ratio average (1.5 in 10 homes selling rate). Homes in this category are selling on average for 1% below the list price. The most active price band is between $1 million to $1.25 million, indicating a seller’s market with an average 38% sales ratio within this price range. For buyers looking for the best opportunities, consider homes between $1.75 million to $2 million or $2.5 million to $2.75 million, especially in areas like Campbell Valley, Salmon River, and those with 7 or more bedrooms. Sellers are likely to have success in selling homes in Aldergrove, Fort Langley, Walnut Grove, and properties with 5 to 6 bedrooms. Keep in mind that there is a minimum inventory of 10 in most instances.
LANGLEY ATTACHED: The attached homes market in Langley is currently a seller’s market with a 30% sales ratio average (3 in 10 homes selling rate). These homes are selling on average for 1% below the list price. The most active price band is in the range of $400,000 to $500,000, with an average 40% sales ratio, indicating a strong seller’s market in this price range. For buyers seeking opportunities, homes between $1 million to $1.25 million in Willoughby Heights and those with a minimum of 4 bedrooms are recommended. Sellers are likely to have success selling homes in Langley City, Murrayville, Walnut Grove, and those with up to 3 bedrooms. Please note that there is a minimum inventory of 10 in most instances.
Abbotsford
ABBOTSFORD DETACHED: The detached homes market in Abbotsford is currently experiencing a balanced market with a 13% sales ratio average (1.3 in 10 homes selling rate). These homes are selling, on average, for 4% below the list price. The most active price band falls in the range of $800,000 to $900,000, with an average 40% sales ratio, indicating a seller’s market within this price bracket. For buyers seeking opportunities, homes between $1.75 million to $2 million in Central Abbotsford, particularly those with a minimum of 7 bedrooms, are recommended. Sellers are likely to have success selling homes in Abbotsford East and Abbotsford West, especially 3 to 4-bedroom properties. Please note that there is a minimum inventory of 10 in most instances.
ABBOTSFORD ATTACHED: The attached homes market in Abbotsford is currently a seller’s market with a 36% sales ratio average (3.6 in 10 homes selling rate). These homes are selling, on average, for 1% below the list price. The most active price band is within the range of $200,000 to $300,000, with an impressive 88% sales ratio, indicating a strong seller’s market for homes in this price range. For buyers seeking opportunities, homes between $700,000 to $800,000 in Abbotsford East, West, or Central, particularly those with 3 bedrooms, are recommended. Sellers are likely to have success selling homes in the Poplar neighborhood and those with up to 1 bedroom. Please note that there is a minimum inventory of 10 in most instances.
Mission
MISSION DETACHED: The detached homes market in Mission is currently experiencing a balanced market with a 13% sales ratio average (1.3 in 10 homes selling rate). These homes are selling, on average, for 1% below the list price. The most active price band falls in the range of $800,000 to $900,000, with an average 55% sales ratio, indicating a slight seller’s market in this price range. For buyers looking for favorable opportunities, homes between $1.25 million to $1.5 million in Hatzic, especially those with 5 to 6 bedrooms, are recommended. Sellers are likely to find success selling homes in Mission, particularly those with 3 to 4 bedrooms. Please note that there is a minimum inventory of 10 in most instances.
MISSION ATTACHED: The attached homes market in Mission is currently a buyer’s market with a 10% sales ratio average (1 in 10 homes selling rate). These homes are selling, on average, for 2% below the list price. The most active price band falls in the range of $300,000 to $400,000, with an average 30% sales ratio, indicating a mild seller’s market in this price range. For buyers seeking favorable options, homes between $600,000 to $700,000 with 3 bedrooms are recommended. Sellers are likely to have success selling homes in Mission, especially those with up to 1-bedroom properties. Please note that there is a minimum inventory of 10 in most instances.
CONCLUSION
In conclusion, the October 2023 edition of our Fraser Valley Real Estate Stats blog has illuminated the ever-evolving landscape of Fraser Valley Real Estate. Our commitment to providing invaluable insights and trends remains unwavering, serving as your guiding light in this picturesque region of British Columbia, Canada. Whether you’re a prospective buyer seeking your dream home or an astute investor looking for opportunities, our comprehensive analysis empowers your decision-making process with confidence. Stay tuned for more updates on the Fraser Valley Real Estate market, and as always, feel free to reach out to Jared Gibbons, your trusted local realtor, with any questions or inquiries. Thank you for joining us on this journey through the intricate nuances of Fraser Valley Real Estate.
Please contact Jared Gibbons, your local realtor, should you have any questions!