The Semiahmoo and Kwantlen First Nations People had already been present in Surrey for more than 6,000 years by the time that European explorers, road-builders, loggers and settlers first came to the area.

 

Community life centred on a hunting and fishing; tidal resources of shellfish, river supplies of salmon, herring, and oolichans, and shorelines and forests of birds, deer, elk and bear provided ample resources to support life in the delta of the Fraser River.

 

The land was forests of fir, cedar and hemlock, basically untouched. Logging began, the land was cleared, settlement took place and Surrey started to take shape.

 

Surrey was incorporated in 1879, and has a rich history of people with diverse ethnic backgrounds who have come together to make Surrey one of British Columbia's most unique communities.

 

In September of 1993, Surrey officially became a city and over the past few years has undergone tremendous change and growth and the overall quality of life has risen to impressive heights.

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South Surrey White Rock Market Update
Morgan Creek, Morgan Heights, Rosemary Heights, Elgin, Chantrell, White Rock, Grandview Surrey,  King George Corridor, Pacific Douglas,and all the sub-areas of White Rock and South Surrey Real Estate Market Update Report.

 

May 1, 2014

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Current:  White Rock South Surrey is in a Stable Market with average listing inventories, 15 %SOLD rate and a 95% Sell/List Ratio. (This means that  there is an average of a $43,000 discount on a sale from the original list price)

Most Active Range: : Homes between $900,000-$1 mill. have 26.4 %SOLD rate.
Least Active Range: Homes above $2 mill. have low 4.3 %SOLD rate.

History: The S. Surrey White Rock Year-To-Date Home Price Index HPIp (Top 50%) shows that  prices increased $95,679.
                 The S. Surrey White Rock Year-To-Date Home Price Index HPIp (Lower 50%) shows that  prices increased $25,904.
                     *The HPIp (Home Price Index) is an approximate reflection of the Average Home Price Changes.

Forecast: White Rock South Surrey has average Listing supply; 780 homes are for sale and with the stable 15 %SOLD monthly rate gives us a ~7 months of inventory. At this sell through rate approximately 490 of these listings will not sell. 12% of the active listings have reduced their price by $79,575 on average or $51,000 median for the last month. The Fraser Valley Real Estate Market has been experiencing a continued Stable-Strong  Market this year in both the Top 50% and the Lower 50% of the  Market Areas. The Fraser Valley is a more Local Employment/Job Dependent Marketplace; and BC's potential Mega Development projects are good Economic news. We project most Fraser Valley Markets to see increased activity with modest price increases. We project White Rock South Surrey to be a continued Stable market. If you have longed to move to another community, or create income through rental property, now might be your best chance to do so.

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West Surrey Market Update (Detached)
East Newton, West Newton, Cedar Hills, Bear Creek Green Timbers, Queen Mary Park Surrey and all the sub-areas of West Surrey Real Estate Market Update Report.

 

April 1, 2014

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Current: West Surrey is in a Stable Market with an average listing inventory, an 10 %SOLD rate and a 97% Sell/List Ratio. (This means that there is an average of a $14,900 sales discount from the original list price) (Lesson)

Most Active Range: Homes between $400,001 and $500,000  have 15.9 %SOLD rate.
Least Active Range: Homes above $800,000 have 4.1% SOLD rate.

History: The Surrey West Year-To-Date Home Price Index HPIp (Top 50%) shows that prices decreased $14,296.
The Surrey West Year-To-Date Home Price Index HPIp (Lower 50%) shows that prices decreased  $16,671.
             *The HPIp (Home Price Index) is an approximate reflection of the Average Home Price Changes.

Forecast: West Surrey has average Listing supply; 788 homes are for sale and with the  10 %SOLD monthly rate gives us a ~10 months of inventory. Approximately 542 of these listings will not sell at this sell through rate. 11% of the active listings have reduced their price by $21,100 on average or $17,000 median in the last month.

The Fraser Valley Real Estate Market has been experiencing a continued Stable-Strong Market this year. The Fraser Valley is a more Local Employment/Job Dependent Marketplace; and BC's potential Mega Development projects are good Economic news. We project most Fraser Valley markets should see increased activity with modest price increases. We project West Surrey to be a stable market. If you have longed to move to another community, or create income through rental property, now might be your best chance to do so.

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East Surrey Market Update Report

Fraser Heights, Fleetwood Tynehead, Panorama Ridge, Sullivan Station, Guildford and all the sub-areas of East Surrey Real Estate Market Update Report.

 

May 1, 2014

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Current:  East Surrey is in a Stable market with a 13 %SOLD rate, 20 DOM and a 97% Sell/List Ratio. (This means that there is an average (m) of a $24,000 sales discount from the original list price)

Most Active Range: Homes between $500,000 and $600,000 have 17.2 %SOLD rate keeping prices stable.
Least Active Range: Homes above $1 mill. have a low 7.8 %SOLD rate.

History: The Surrey East Year-To-Date Home Price Index HPIp (Top 50%) shows that prices increased $26,188.
                 The Surrey East Year-To-Date Home Price Index HPIp (Lower 50%) shows that prices  increased $5,613.
                      *The HPIp (Home Price Index) is an approximate reflection of the Average Home Price Changes.

Forecast: East Surrey has an average Listing Supply; 625 homes are for sale and with the 13 %SOLD monthly rate gives us a 8 months of inventory.  At this sell through rate approximately 430 of these listings will not sell. 11% of the active listings have reduced their price by $36,631 on average or $20,900 on median in the last month.
The Fraser Valley Real Estate Market has been experiencing a continued Stable-Strong  Market this year in both the Top 50% and the Lower 50% of the  Market Areas. The Fraser Valley is a more Local Employment/Job Dependent Marketplace; and BC's potential Mega Development projects are good Economic news. We project most Fraser Valley Markets to see increased activity with modest price increases. We project East Surrey to be a continued stable market. If you have longed to move to another community, or create income through rental property, now might be your best chance to do so.

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We are a Balanced Market here in the Fraser Valley!

 
News Release: May 2, 2014 BALANCED MARKET CONDITIONS IN THE FRASER VALLEY (Surrey, BC) – The growth in sales on Fraser Valley’s Multiple Listing Service (MLS®) outpaced the growth in new inventory in April, propelling the market into solid balanced conditions. In April, the Fraser Valley Real Estate Board’s total sales volume increased by 8 per cent year over year and 17 per cent compared to March while new listings saw a 7 per cent increase compared to April 2013 and a 13 per cent increase compared to the previous month. Ray Werger, president of the Board, says, “There’s a lot of optimism right now. It will take a few more months of numbers, but our 2014 market is already on track to outperform last year. “A measurement we rely on to gauge the health of the housing market is the ratio between sales and active listings and in April that number was the highest it’s been in our region in three years. Last month, that ratio for both single family detached homes and townhomes was 21 per cent, meaning for every 100 homes available, 21 sold. That’s a strong, balanced market.” Werger adds that demand for apartments in the Fraser Valley remained softer. “In some of our areas we have an oversupply of condos and you’ll see that reflected in prices. Generally, prices of benchmark or typical apartments have decreased over the past year. However, both buyers and sellers need to be aware that it depends on the community and the age and quality of the condo.” In April, the benchmark price of single family detached homes in the Fraser Valley was $566,000, an increase of 3.4 per cent compared to $547,300 during the same month last year. For townhouses, the benchmark price was $298,700, virtually unchanged compared to $299,100 in April 2013 and the benchmark price of apartments was $196,300, a decrease of 3.7 per cent compared to $203,900 in April of last year. In April, the Board processed a total of 1,470 sales through its MLS® compared to 1,366 sales in April 2013 and 1,259 sales in March; and, received 3,153 new listings last month compared to 2,951 new listings received during April 2013. The number of active listings reached 9,400, 7 per cent more than were available in March however 6 per cent fewer than were available during April of last year. In April, the number of days on average to sell a detached home in the Fraser Valley was 43; 47 for townhomes; and, 59 days on average for an apartment. All, four days faster than they were in April 2013.
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