Welcome to our detailed exploration of the Fraser Valley Real Estate Market, spotlighting May 2024 statistics to illuminate present market trends. Whether you’re considering buying or selling, staying informed about the evolving dynamics in both detached and attached property markets across the Fraser Valley is crucial for making well-informed decisions.
Surrey
Detached Properties
The detached property market in Surrey indicates a balanced landscape with a 13% sales ratio on average, meaning about 1.3 out of 10 homes are selling. Homes are generally selling 3% above their list prices. The most active price band is between $1 million to $1.25 million, with an impressive 41% sales ratio, signifying a seller’s market. Buyers looking for optimal opportunities should consider homes priced between $2.5 million to $2.75 million in areas such as Bear Creek, Panorama Ridge, Queen Mary, Sullivan Station, and West Newton. Sellers will find the best success in Royal Heights with 3 to 4 bedroom properties.
Attached Properties
Surrey’s attached property market is a seller’s market with a 22% sales ratio, indicating about 2.2 out of 10 homes are selling. Homes are selling at 100% of their list prices on average. The most active price band is between $200,000 to $400,000, with a 30% sales ratio. For buyers, homes priced between $700,000 to $800,000 or $1 million to $1.25 million in Bear Creek, Panorama Ridge, and Queen Mary offer good opportunities. Sellers are likely to succeed with homes in Fleetwood Tynehead, Guildford, and properties with a minimum of 2 bedrooms.
South Surrey White Rock
Detached Properties
In South Surrey White Rock, the detached property market remains balanced with a 16% sales ratio, translating to about 1.6 out of 10 homes sold. Homes are generally selling 1% below their list prices. The most active price band is between $1.25 million to $1.5 million, with a 44% sales ratio, highlighting a seller’s market. Buyers will find the best opportunities with homes priced between $3.5 million to $4 million in White Rock, particularly those with up to 2 bedrooms. Sellers should focus on properties in Pacific Douglas with at least 7 bedrooms.
Attached Properties
This market is a seller’s market with a 30% sales ratio, indicating about 3 out of 10 homes are selling. Homes are selling 1% below their list prices on average. The most active price band is between $400,000 to $500,000, with a 56% sales ratio. Buyers should consider homes priced between $900,000 to $1 million in Grandview, Pacific Douglas, and Sunnyside Park with a minimum of 4 bedrooms. Sellers will find success in Morgan Creek with 3 bedroom properties.
North Delta
Detached Properties
North Delta’s detached property market shows a seller’s market with a 23% sales ratio, indicating about 2.3 out of 10 homes are selling. Homes are selling 1% below their list prices on average. The most active price band is between $1.25 million to $1.5 million, with a 35% sales ratio. Buyers should look for homes priced between $1.75 million to $2 million in Scottsdale, especially those with a minimum of 7 bedrooms. Sellers will find the best market in Sunshine Hills Woods with 3 to 4 bedroom properties.
Attached Properties
This market is also a seller’s market with a 37% sales ratio, indicating about 3.7 out of 10 homes are selling. Homes are selling 2% below their list prices on average. The most active price band is between $500,000 to $600,000, with a 50% sales ratio. Buyers should focus on homes priced between $600,000 to $700,000 in Annieville and Scottsdale with 3 bedroom properties. Sellers will have success in Nordel and Sunshine Hills Woods with up to 1 bedroom properties.
Cloverdale
Detached Properties
Cloverdale’s detached property market remains a seller’s market with a 28% sales ratio, indicating about 2.8 out of 10 homes are selling. Homes are generally selling at 100% of their list prices. The most active price band is between $1 million to $1.25 million, with an impressive sales ratio above 100%. Buyers should consider homes priced between $2 million to $2.25 million in Cloverdale with a minimum of 7 bedrooms. Sellers should focus on properties in Clayton with 5 to 6 bedroom homes.
Attached Properties
The attached property market is a seller’s market with a 33% sales ratio, indicating about 3.3 out of 10 homes are selling. Homes are selling at 100% of their list prices on average. The most active price band is between $400,000 to $500,000, with a 56% sales ratio. Buyers should look for homes priced between $900,000 to $1 million in Clayton with 3 bedroom properties. Sellers will succeed in Cloverdale with a minimum of 4 bedroom properties.
Langley
Detached Properties
Langley’s detached property market is a seller’s market with a 30% sales ratio, indicating about 3 out of 10 homes are selling. Homes are generally selling 3% below their list prices. The most active price band is between $1 million to $1.25 million, with a 48% sales ratio. Buyers should focus on homes priced between $2.75 million to $3 million in Campbell Valley with up to 2 bedrooms. Sellers will find the best market in Murrayville and Walnut Grove with 3 to 4 bedroom properties.
Attached Properties
This market is a seller’s market with a 30% sales ratio, indicating about 3 out of 10 homes are selling. Homes are selling 2% below their list prices on average. The most active price band is between $800,000 to $900,000, with a 43% sales ratio. Buyers should consider homes priced between $600,000 to $700,000 in Fort Langley, Langley City, and Murrayville with up to 1 bedroom properties. Sellers should focus on Walnut Grove with 3 bedroom properties.
Abbotsford
Detached Properties
Abbotsford’s detached property market is balanced with an 18% sales ratio, indicating about 1.8 out of 10 homes are selling. Homes are selling 3% below their list prices on average. The most active price band is between $900,000 to $1 million, with a 32% sales ratio. Buyers should look for homes priced between $1.75 million to $2 million in Abbotsford West with a minimum of 7 bedrooms. Sellers will find success in Abbotsford East with 3 to 4 bedroom properties.
Attached Properties
The attached property market is a seller’s market with a 29% sales ratio, indicating about 2.9 out of 10 homes are selling. Homes are selling 1% below their list prices on average. The most active price band is between $200,000 to $300,000, with a 63% sales ratio. Buyers should consider homes priced between $600,000 to $700,000 in Abbotsford West with 2 bedroom properties. Sellers will succeed in Abbotsford East with up to 1 bedroom properties.
Mission
Detached Properties
Mission’s detached property market is balanced with a 19% sales ratio, indicating about 1.9 out of 10 homes are selling. Homes are selling 1% below their list prices on average. The most active price band is between $900,000 to $1 million, with a 38% sales ratio. Buyers should focus on homes priced between $1.25 million to $1.5 million in Mission with a minimum of 7 bedrooms. Sellers will find the best market in Hatzic with 3 to 4 bedroom properties.
Attached Properties
This market is a seller’s market with a 32% sales ratio, indicating about 3.2 out of 10 homes are selling. Homes are selling 4% below their list prices on average. The most active price band is between $700,000 to $800,000, with a 46% sales ratio. Buyers should consider homes priced between $500,000 to $600,000 with 2 bedroom properties. Sellers will find success in Mission with 3 bedroom properties.
Connect with Jared Gibbons, Your Local Realtor
For personalized guidance and expert advice in navigating the Fraser Valley 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.