Welcome to a comprehensive overview of Fraser Valley’s real estate landscape, where February 2024 statistics shed light on the current market trends. Whether you’re a prospective buyer or seller, understanding the recent dynamics in Fraser Valley’s detached and attached property markets is essential for informed decision-making.
Surrey
Detached Properties
In Surrey’s detached property market, things are pretty balanced overall, with about 14% of homes selling on average. Properties tend to sell slightly below their listed prices, about 2% lower. The hottest price range is between $1 million to $1.25 million, where sellers have the upper hand with a 65% sales rate. If you’re buying, look for homes between $2.25 million to $2.5 million in West Newton with at least 7 bedrooms. For sellers, focusing on areas like Cedar Hills and East Newton, especially with up to 2 bedrooms, might be a good idea.
Attached Properties
In Surrey’s attached property market, it’s definitely a seller’s game, with an average sales ratio of 26%. Homes here are typically fetching their full list price. The most active price band falls between $400,000 to $500,000, where sellers are in a strong position, with a 39% sales ratio. If you’re buying, consider homes between $1 million to $1.5 million in Fraser Heights, especially those with 2 bedrooms. For sellers, focusing on areas like Fleetwood Tynehead and Guildford, particularly with up to 1 and minimum 4 bedroom properties, might be advantageous.
South Surrey White Rock
Detached Properties
In South Surrey White Rock’s detached property market, there’s a balance, with an average sales ratio of 18%. Properties tend to sell slightly below their list prices, about 3% lower on average. The most active price band falls between $1.5 million to $1.75 million, where sellers hold some advantage with a 38% sales ratio. If you’re buying, focus on homes between $3.5 million to $4 million in White Rock, especially those with a minimum of 7 bedrooms. For sellers, targeting areas like Crescent Beach Ocean Park and properties with 3 to 4 bedrooms might be a smart move.
Attached Properties
In South Surrey White Rock’s attached property market, sellers are in a strong position, with an average sales ratio of 34%. Properties here typically sell just 1% below their listed prices. The most active price band lies between $400,000 to $500,000, where sellers have full control with a 100% sales ratio. Buyers looking for the best value should consider homes between $1.5 million to $1.75 million in areas like King George Corridor, Pacific Douglas, and White Rock, especially those with 3 bedrooms. For sellers, focusing on areas like Sunnyside Park and properties with up to 1 bedroom or a minimum of 4 bedrooms might be advantageous.
North Delta
Detached Properties
In North Delta’s detached property market, sellers hold the advantage, with an average sales ratio of 22%. Properties typically sell just 1% below their listed prices. The most active price band is between $1.25 million to $1.5 million, where sellers see significant activity with a 48% sales ratio. Buyers looking for the best deals should consider homes between $1.5 million to $2.25 million in areas like Scottsdale, especially those with 5 to 6 bedrooms. For sellers, focusing on areas like Annieville and Sunshine Hills Woods, particularly with 3 to 4-bedroom properties, might be beneficial.
Attached Properties
In North Delta’s attached property market, there’s a balance, with an average sales ratio of 15%. Properties typically sell just 1% below their listed prices. The most active price band lies between $600,000 to $700,000, where sellers have some advantage with a 27% sales ratio. Buyers seeking the best deals should explore homes between $500,000 to $600,000 in areas like Sunshine Hills Woods, especially those with 3 bedrooms. For sellers, focusing on areas like Scottsdale and properties with 2 bedrooms might be advantageous.
Cloverdale
Detached Properties
In Cloverdale’s detached property market, sellers are in a strong position, with an average sales ratio of 32%. Properties typically sell at their listed prices. The most active price band is between $1.25 million to $1.5 million, where sellers have a substantial advantage with a 65% sales ratio. Buyers looking for the best options should focus on homes between $1.75 million to $2 million in Cloverdale, particularly those with a minimum of 7 bedrooms. For sellers, concentrating on areas like Clayton and properties with 3 to 4 bedrooms might be advantageous.
Attached Properties
In Cloverdale’s attached property market, sellers have a dominant position, with an average sales ratio of 66%. Properties typically sell just 1% below their listed prices. The most active price band is between $500,000 to $600,000, where sellers have a significant advantage with a sales ratio exceeding 100%. Buyers seeking the best options should explore homes between $900,000 to $1 million, especially those with a minimum of 4 bedrooms. For sellers, focusing on areas like Clayton and Cloverdale, particularly with 2-bedroom properties, might be advantageous.
Langley
Detached Properties
In Langley’s detached property market, sellers maintain a strong position with an average sales ratio of 29%. Properties typically sell at an average of 4% below their listed prices. The most active price band falls between $1 million to $1.25 million, where sellers see robust activity with a 62% sales ratio. Buyers looking for optimal deals should focus on homes between $2.5 million to $2.75 million in areas like Campbell Valley, especially those with up to 2 bedrooms. For sellers, concentrating on areas like Aldergrove and Walnut Grove, particularly with 3 to 4-bedroom properties, might be beneficial.
Attached Properties
In Langley’s attached property market, sellers continue to dominate with an average sales ratio of 41%. Properties typically sell just 1% below their listed prices. The most active price band ranges from $800,000 to $900,000, where sellers experience strong demand with a 68% sales ratio. Buyers seeking optimal deals should focus on homes between $1 million to $1.25 million in Aldergrove, particularly those with a minimum of 4 bedrooms. For sellers, concentrating on areas like Murrayville and properties with 3 bedrooms might be advantageous.
Abbotsford
Detached Properties
In Abbotsford’s detached property market, sellers hold a significant advantage with an average sales ratio of 26%. Properties typically sell at an average of 2% below their listed prices. The most active price band falls between $900,000 to $1 million, where sellers experience robust demand with a 63% sales ratio. Buyers seeking optimal deals should explore homes between $1.75 million to $2 million in Aberdeen, particularly those with a minimum of 7 bedrooms. For sellers, focusing on areas like Abbotsford East and Poplar, especially with 3 to 4-bedroom properties, might be advantageous.
Attached Properties
In Abbotsford’s attached property market, sellers are in a dominant position with an average sales ratio of 41%. Properties typically sell at an average of 3% below their listed prices. The most active price band lies between $300,000 to $400,000, where sellers experience strong demand with a 56% sales ratio. Buyers looking for optimal deals should explore homes between $900,000 to $1 million in Abbotsford West, particularly those with a minimum of 4 bedrooms. For sellers, focusing on areas like Abbotsford East and properties with up to 1 bedroom might be advantageous.
Mission
Detached Properties
In Mission’s detached property market, sellers maintain a strong position with an average sales ratio of 28%. Properties typically sell just 1% below their listed prices. The most active price band ranges from $700,000 to $800,000, where sellers see solid demand with a 50% sales ratio. Buyers looking for favorable deals should consider homes between $800,000 to $900,000 in Hatzic, especially those with up to 2 bedrooms. For sellers, focusing on Mission and properties with 5 to 6 bedrooms might be advantageous.
Attached Properties
In Mission’s attached property market, sellers are in a strong position with an average sales ratio of 35%. Properties typically sell at an average of 2% below their listed prices. The most active price band ranges from $400,000 to $500,000, where sellers experience solid demand with a 55% sales ratio. Buyers looking for favorable deals should consider homes between $600,000 to $700,000, particularly 3-bedroom properties. For sellers, focusing on Mission and properties with up to 1 bedroom might be advantageous.
Connect with Jared Gibbons, Your Local Realtor
For personalized guidance and expert advice in navigating Fraser Valley’s real estate market, Jared Gibbons, your trusted local realtor, is here to assist you. With a deep understanding of the region’s nuances and a commitment to client satisfaction, Jared provides invaluable support throughout your real estate journey.