Fraser Valley Real Estate Board - Stats for April 2020

Posted by Mir Khan on Saturday, May 2nd, 2020 at 8:00am.

Stats from April 2020

To view the YouTube stats video, please click here or click below:

 

The Real Estate market in the Fraser Valley has been very different and slow for a "Spring Market" in April 2020 with both detached and attached homes in Surrey, BC - both being at a 'Balanced Market while being declared in a 'state of emergency' due to coronavirus - there are homes still being listed and sold (it is not stationary housing market and sales are still happening). For the sake of simplicity, and just focusing on sales ratios in Surrey, BC, for; March 2020 at sales ratio of 30% - which is a strong 'Seller's Market' verses for April 2020 at 13.5%  -- overall (for all property types) -- a 'Balanced Market'. Please note, that the housing market in Surrey, BC, is holding it ground and not losing value.

Focusing only at Surrey, BC, Canada and single family detached homes; the March 2020 sales ratio was at 34% -- at strong 'Sellers Market'; and, for April 2020 sales ratio at 14% -- a 'Balanced Market'. The average sales price slightly dropped from March 2020 to April 2020 for detached homes in Surrey, BC, by 4% averaging at: $1,015,000. The inventory did not change much in April and remained almost same at 573 homes (March was 589 homes) listed; and the sales went down by 59% in comparison to March 2020 for all detached homes in Surrey, BC, Canada -- to only 82 SOLDS in April 2020. Lastly, for the Days-On-Market (DOM): in April 2020 at 17 verses March Days-On-Market (DOM) at 14. For the most part, we are in a 'Balanced Market' (ask me what this means) at 14% Sales Ratio for the entire Surrey detached single family homes.

The Detached Homes (Single Family Homes) in Sullivan Station Community in Surrey, BC, Canada - market changed since March 2020 at Sales Ratio of 32%; to April 2020 at Sales Ratio at 12% --> a 'Balanced Market'.

The Attached Homes (Condos & Townhomes) in Sullivan Station Community in Surrey, BC, Canada - market slightly changed since March 2020 at Sales Ratio of 39%; to April 2020 at Sales Ratio at 23% --> still holding at a 'Seller's Market'.

My Team an I have complied with all recommendations from our Government as well as the Real Estate Board in following protocol during COVID-19 pandemic - ensuring the safety of our clients and general public - if you are thinking of selling your Home during this time - you can count on us to get the job done right.

For full details and understanding of how the market is doing, right now, please contact me at: (778) 558-4427 or email me at: mir@mirkhan.ca - I can share the most recent Fraser Valley and the Greater Vancouver Stats with you, if you are looking to selling your home. Please call us; my Team & I will be glad to be of service. :-)

Feel free to leave to comment or ask me something by entering it below 'Leave a Comment' box ...

Thanks for reading & viewing.

Be Safe, Be Healthy and Be Happy! :-)

Mir Khan
Certified International Property Specialist, International Realtor Member, Professional Full-time Realtor
Mir Khan Personal Real Estate Corporation
Century 21 AAA Realty Inc.
(778) 558-4427
mir@mirkhan.ca
www.MirKhan.ca

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