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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