OCTOBER 2020 – SURREY REAL ESTATE UPDATES

New statistics for October prove that the Real Estate market is still going hot when results show that overall sales have made October another record breaking month with the Fraser Valley Real estate Board. Making it the FiFTH month of high activity for real estate in this region. 

For the City of Surrey, we saw an increase activity for detached homes by 71.6% compared to 2019

Townhomes have increased by 49.6% compared to 2019

And sales of apartments increased by 16.7% compared to 2019

Activity along the Fraser Valley is still going strong, but for those of you that recall, we are still seeing a decline in acceleration compared to earlier in the summer. 

The amount of new listings received by the Fraser Valley Real estate board this month has decreased compared to September, however the buyers interest remains as high as ever. Most likely due to the continued low mortgage rates. But nevertheless, the new ratio of buyers and sellers is now tipping the market even further into a Sellers Market. Giving Sellers more bargaining power than ever in the past two years and making it the best time to sell your house since 2018. 

For those of you in British Columbia’s Fraser Valley area, save yourself the hassle of real estate and give us a call for you real estate inquiries.

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