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Fraser Valley Market Update – November 2020

According to the Fraser Valley Real Estate Board report (FVREB), there were a total of 3850 listings and home sales in the area totaled 1695 showing a Seller’s Market within the Fraser Valley.

For all residential properties in Fraser Valley the average Multiple Listing Service® (MLS®) Home Price Index (HPI) benchmark price is $731,517. This shows a 7.9% change over a yearly period and a 0.8% increase compared to the previous month.

Surrey Market Stats – Novermber 2020

In November there were 842 sales out of a total 1753 residential properties listed in Surrey. The sales-to-active listings ratio is 59.4% for detached homes, 56.4% for townhomes, and 27.3% for condominiums bringing the average residential property to 48% determining a Seller’s Market for the month.

Breaking it down to the property types, the HPI Benchmark Price for a detached home is $1,081,433, a 1.7% increase from the previous month and a 10.5% increase from the same time last year.

For townhomes, the HPI Benchmark price rose 5.4% compared to the year before, reaching a benchmark price of $583,567

The HPI Benchmark price of a condominium sits at $437,500; a -0.3% decrease compared to last month and a 4.3% increase from the same time last year.

Delta North Market Stats – Novermber 2020

In November there were 78 sales out of a total 184 residential properties listed in Delta North. The sales-to-active listings ratio is 60.3% for detached homes, 21.4% for townhomes, and 5% for condominiums bringing the average residential property to 42.4% determining a Seller’s Market for the month.

Breaking it down to the property types, the HPI Benchmark Price for a detached home is $983,800, a 1.2% increase from the previous month and a 10.5% increase from the same time last year.

For townhomes, the HPI Benchmark price rose 9.6% compared to the year before, reaching a benchmark price of $581800

The HPI Benchmark price of a condominium sits at $381,200; a -0.3% decrease compared to last month and a 3.3% increase from the same time last year.

White Rock Market Stats – Novermber 2020

In November there were 287 sales out of a total 943 residential properties listed in White Rock. The sales-to-active listings ratio is 30.2% for detached homes, 50.3% for townhomes, and 21.6% for condominiums bringing the average residential property to 30.4% determining a Seller’s Market for the month.

Breaking it down to the property types, the HPI Benchmark Price for a detached home is $1,447,700, a 0.3% increase from the previous month and a 10.4% increase from the same time last year.

For townhomes, the HPI Benchmark price rose 6.8% compared to the year before, reaching a benchmark price of $674,800

The HPI Benchmark price of a condominium sits at $507,200; a 2.7% increase compared to last month and a 7.7% increase from the same time last year.

Langley Market Stats – Novermber 2020

In November there were 145 sales out of a total 269 residential properties listed in Langley. The sales-to-active listings ratio is 85.6% for detached homes, 65.1% for townhomes, and 36.7% for condominiums bringing the average residential property to 53.9% determining a Seller’s Market for the month.

Breaking it down to the property types, the HPI Benchmark Price for a detached home is $1,115,200, a 2.2% increase from the previous month and a 12.6% increase from the same time last year.

For townhomes, the HPI Benchmark price rose 5% compared to the year before, reaching a benchmark price of $579,200

The HPI Benchmark price of a condominium sits at $398,000; a 0.1% increase compared to last month and a 5.2% increase from the same time last year.

Mission Market Stats – Novermber 2020

In November there were 63 sales out of a total 118 residential properties listed in Mission. The sales-to-active listings ratio is 57.8% for detached homes, 46.2% for townhomes, and 33.3% for condominiums bringing the average residential property to 53.4% determining a Seller’s Market for the month.

Breaking it down to the property types, the HPI Benchmark Price for a detached home is $739,000, a 1.8% increase from the previous month and a 15.6% increase from the same time last year.

For townhomes, the HPI Benchmark price rose 6.5% compared to the year before, reaching a benchmark price of $476,800

The HPI Benchmark price of a condominium sits at $361,200; a 2.2% increase compared to last month and a 7.8% increase from the same time last year.

Abbotsford Market Stats – Novermber 2020

In November there were 358 sales out of a total 767 residential properties listed in Abbotsford. The sales-to-active listings ratio is 52.3% for detached homes, 55.1% for townhomes, and 34.6% for condominiums bringing the average residential property to 46.7% determining a Seller’s Market for the month.

Breaking it down to the property types, the HPI Benchmark Price for a detached home is $873,600, a 0.6% increase from the previous month and a 11% increase from the same time last year.

For townhomes, the HPI Benchmark price rose 4.5% compared to the year before, reaching a benchmark price of $476,300

The HPI Benchmark price of a condominium sits at $323,400; a -0.3% decrease compared to last month and a 4.8% increase from the same time last year.

CategoriesUncategorized

Greater Vancouver Market Update – October 2020

According to the Real Estate Board of Greater Vancouver report (REBGV), there were a total of 2005 listings and home sales in the area totaled 1410 showing a Seller’s Market within the Greater Vancouver.

For all residential properties in Greater Vancouver the average Multiple Listing Service® (MLS®) Home Price Index (HPI) benchmark price is $809,000. This shows a 6.5% change over a yearly period and a 0.8% increase compared to the previous month.

Burnaby Market Stats – October 2020

In October there were 394 sales out of a total 642 residential properties listed in Burnaby. The sales-to-active listings ratio is 59.8% for detached homes, 83.7% for townhomes, and 56.3% for condominiums bringing the average residential property to 61.4% determining a Seller’s Market for the month.

Breaking it down to the property types, the HPI Benchmark Price for a detached home is $1,449,300, a -0.1% decrease from the previous month and a 9.1% increase from the same time last year.

For townhomes, the HPI Benchmark price rose 5% compared to the year before, reaching a benchmark price of $753,033

The HPI Benchmark price of a condominium sits at $667,000; a -0.2% decrease compared to last month and a 2.8% increase from the same time last year.

New Westminster Market Stats – October 2020

In October there were 168 sales out of a total 268 residential properties listed in New Westminster. The sales-to-active listings ratio is 72% for detached homes, 56.8% for townhomes, and 61.3% for condominiums bringing the average residential property to 62.7% determining a Seller’s Market for the month.

Breaking it down to the property types, the HPI Benchmark Price for a detached home is $1,127,200, a 1.1% increase from the previous month and a 10.8% increase from the same time last year.

For townhomes, the HPI Benchmark price rose 5.4% compared to the year before, reaching a benchmark price of $756,500

The HPI Benchmark price of a condominium sits at $531,600; a 0.1% increase compared to last month and a 4.6% increase from the same time last year.

Coquitlam Market Stats – October 2020

In October there were 341 sales out of a total 452 residential properties listed in Coquitlam. The sales-to-active listings ratio is 92.1% for detached homes, 93.3% for townhomes, and 57.8% for condominiums bringing the average residential property to 75.4% determining a Seller’s Market for the month.

Breaking it down to the property types, the HPI Benchmark Price for a detached home is $1,262,100, a 1.7% increase from the previous month and a 9.6% increase from the same time last year.

For townhomes, the HPI Benchmark price rose 3.7% compared to the year before, reaching a benchmark price of $699,800

The HPI Benchmark price of a condominium sits at $534,500; a 0.5% increase compared to last month and a 3.4% increase from the same time last year.

Port Coquitlam Market Stats – October 2020

In October there were 117 sales out of a total 176 residential properties listed in Port Coquitlam. The sales-to-active listings ratio is 90% for detached homes, 92.1% for townhomes, and 46.9% for condominiums bringing the average residential property to 66.5% determining a Seller’s Market for the month.

Breaking it down to the property types, the HPI Benchmark Price for a detached home is $1,034,400, a 1.1% increase from the previous month and a 13.7% increase from the same time last year.

For townhomes, the HPI Benchmark price rose 6.5% compared to the year before, reaching a benchmark price of $662,500

The HPI Benchmark price of a condominium sits at $466,400; a -0.8% decrease compared to last month and a 6.6% increase from the same time last year.

Port Moody Market Stats – October 2020

In October there were 87 sales out of a total 127 residential properties listed in Port Moody. The sales-to-active listings ratio is 69.4% for detached homes, 83.9% for townhomes, and 60% for condominiums bringing the average residential property to 68.5% determining a Seller’s Market for the month.

Breaking it down to the property types, the HPI Benchmark Price for a detached home is $1,515,600, a 2.1% increase from the previous month and a 8.7% increase from the same time last year.

For townhomes, the HPI Benchmark price rose 4.6% compared to the year before, reaching a benchmark price of $648900

The HPI Benchmark price of a condominium sits at $648,100; a 1.1% increase compared to last month and a 2.8% increase from the same time last year.

Maple Ridge Market Stats – October 2020

In October there were 303 sales out of a total 340 residential properties listed in Maple Ridge. The sales-to-active listings ratio is 98.3% for detached homes, 87.4% for townhomes, and 71.3% for condominiums bringing the average residential property to 89.1% determining a Seller’s Market for the month.

Breaking it down to the property types, the HPI Benchmark Price for a detached home is $884,200, a 1.9% increase from the previous month and a 10% increase from the same time last year.

For townhomes, the HPI Benchmark price rose 4.6% compared to the year before, reaching a benchmark price of $554,000

The HPI Benchmark price of a condominium sits at $369,000; a 3.1% increase compared to last month and a 5.3% increase from the same time last year.

CategoriesUncategorized

Fraser Valley Market Update – October 2020

According to the Fraser Valley Real Estate Board report (FVREB), there were a total of 4445 listings and home sales in the area totaled 1755 showing a Seller’s Market within the Fraser Valley.

For all residential properties in Fraser Valley the average Multiple Listing Service® (MLS®) Home Price Index (HPI) benchmark price is $727,517. This shows a 6.6% change over a yearly period and a 0.6% increase compared to the previous month.

Surrey Market Stats – October 2020

In October there were 859 sales out of a total 2154 residential properties listed in Surrey. The sales-to-active listings ratio is 40.3% for detached homes, 49.5% for townhomes, and 30.6% for condominiums bringing the average residential property to 39.9% determining a Seller’s Market for the month.

Breaking it down to the property types, the HPI Benchmark Price for a detached home is $1,063,134, a 1.3% increase from the previous month and a 8.5% increase from the same time last year.

For townhomes, the HPI Benchmark price rose 5.5% compared to the year before, reaching a benchmark price of $584,367

The HPI Benchmark price of a condominium sits at $438,767; a -0.3% decrease compared to last month and a 4.4% increase from the same time last year.

Delta North Market Stats – October 2020

In October there were 85 sales out of a total 212 residential properties listed in Delta North. The sales-to-active listings ratio is 41.1% for detached homes, 46.7% for townhomes, and 30.6% for condominiums bringing the average residential property to 40.1% determining a Seller’s Market for the month.

Breaking it down to the property types, the HPI Benchmark Price for a detached home is $972,500, a 2.7% increase from the previous month and a 9.7% increase from the same time last year.

For townhomes, the HPI Benchmark price rose 6% compared to the year before, reaching a benchmark price of $580,800

The HPI Benchmark price of a condominium sits at $382,500; a -2.9% decrease compared to last month and a 2.8% increase from the same time last year.

White Rock Market Stats – October 2020

In October there were 310 sales out of a total 1108 residential properties listed in White Rock. The sales-to-active listings ratio is 25.4% for detached homes, 47.9% for townhomes, and 21.5% for condominiums bringing the average residential property to 28% determining a Seller’s Market for the month.

Breaking it down to the property types, the HPI Benchmark Price for a detached home is $1,443,500, a 2% increase from the previous month and a 9.5% increase from the same time last year.

For townhomes, the HPI Benchmark price rose 4.4% compared to the year before, reaching a benchmark price of $678,300

The HPI Benchmark price of a condominium sits at $493,900; a 1.4% increase compared to last month and a 4% increase from the same time last year.

Langley Market Stats – October 2020

In October there were 145 sales out of a total 269 residential properties listed in Langley. The sales-to-active listings ratio is 70.6% for detached homes, 61.7% for townhomes, and 30.9% for condominiums bringing the average residential property to 53.9% determining a Seller’s Market for the month.

Breaking it down to the property types, the HPI Benchmark Price for a detached home is $1,090,800, a 1.2% increase from the previous month and a 10.9% increase from the same time last year.

For townhomes, the HPI Benchmark price rose 4.4% compared to the year before, reaching a benchmark price of $576,400

The HPI Benchmark price of a condominium sits at $397,500; a -1.6% decrease compared to last month and a 5.2% increase from the same time last year.

Mission Market Stats – October 2020

In October there were 83 sales out of a total 147 residential properties listed in Mission. The sales-to-active listings ratio is 54.5% for detached homes, 100% for townhomes, and 31.6% for condominiums bringing the average residential property to 56.5% determining a Seller’s Market for the month.

Breaking it down to the property types, the HPI Benchmark Price for a detached home is $726,000, a 2% increase from the previous month and a 13.5% increase from the same time last year.

For townhomes, the HPI Benchmark price rose 5.3% compared to the year before, reaching a benchmark price of $470,700

The HPI Benchmark price of a condominium sits at $353,300; a 0.4% increase compared to last month and a 3.9% increase from the same time last year.

Abbotsford Market Stats – October 2020

In October there were 358 sales out of a total 767 residential properties listed in Abbotsford. The sales-to-active listings ratio is 52.3% for detached homes, 55.1% for townhomes, and 34.6% for condominiums bringing the average residential property to 46.7% determining a Seller’s Market for the month.

Breaking it down to the property types, the HPI Benchmark Price for a detached home is $873,600, a 0.6% increase from the previous month and a 11% increase from the same time last year.

For townhomes, the HPI Benchmark price rose 4.5% compared to the year before, reaching a benchmark price of $476,300

The HPI Benchmark price of a condominium sits at $323,400; a -0.3% decrease compared to last month and a 4.8% increase from the same time last year.

CategoriesUncategorized

Greater Vancouver Market Update – August 2020

According to the Real Estate Board of Greater Vancouver report (REBGV), there were a total of 2281 listings and home sales in the area totaled 1026 showing a Seller’s Market within the Greator Vancouver.

For all residential properties in Greator Vancouver the average Multiple Listing Service® (MLS®) Home Price Index (HPI) benchmark price is $795,500. This shows a 4.7% change over a yearly period and a 0.2% increase compared to the previous month.

Burnaby Market Stats – August 2020

In August there were 359 sales out of a total 720 residential properties listed in Burnaby. The sales-to-active listings ratio is 60.1% for detached homes, 55.2% for townhomes, and 44.7% for condominiums bringing the average residential property to 49.9% determining a Seller’s Market for the month.

Breaking it down to the property types, the HPI Benchmark Price for a detached home is $1,430,000, a 0.6% increase from the previous month and a 7.1% increase from the same time last year.

For townhomes, the HPI Benchmark price rose 5.3% compared to the year before, reaching a benchmark price of $747,700.

The HPI Benchmark price of a condominium sits at $663,900; a -1.3% decrease compared to last month and a 2.1% increase from the same time last year.

New Westminster Market Stats – August 2020

In August there were 161 sales out of a total 281 residential properties listed in New Westminster. The sales-to-active listings ratio is 69.4% for detached homes, 60.9% for townhomes, and 53.2% for condominiums bringing the average residential property to 57.3% determining a Seller’s Market for the month

Breaking it down to the property types, the HPI Benchmark Price for a detached home is $1,098,800, a 0.9% increase from the previous month and a 6.3% increase from the same time last year.

For townhomes, the HPI Benchmark price rose 8.5% compared to the year before, reaching a benchmark price of $765,000.

The HPI Benchmark price of a condominium sits at $528,400; a -0.4% decrease compared to last month and a 4.3% increase from the same time last year.

Coquitlam Market Stats – August 2020

In August there were 189 sales out of a total 405 residential properties listed in Coquitlam. The sales-to-active listings ratio is 57.8% for detached homes, 59.1% for townhomes, and 30.6% for condominiums bringing the average residential property to 46.7% determining a Seller’s Market for the month.

Breaking it down to the property types, the HPI Benchmark Price for a detached home is $1,229,600, a 0.1% increase from the previous month and a 6.3% increase from the same time last year.

For townhomes, the HPI Benchmark price rose 5.7% compared to the year before, reaching a benchmark price of $688,900.

The HPI Benchmark price of a condominium sits at $529,000; a 0% increase compared to last month and a 0.9% increase from the same time last year.

Port Coquitlam Market Stats – August 2020

In August there were 102 sales out of a total 166 residential properties listed in Port Coquitlam. The sales-to-active listings ratio is 79.6% for detached homes, 57.1% for townhomes, and 52% for condominiums bringing the average residential property to 61.4% determining a Seller’s Market for the month.

Breaking it down to the property types, the HPI Benchmark Price for a detached home is $993,500, a 1.4% increase from the previous month and a 9.4% increase from the same time last year.

For townhomes, the HPI Benchmark price rose 4.6% compared to the year before, reaching a benchmark price of $656,400.

The HPI Benchmark price of a condominium sits at $462,900; a 0.2% increase compared to last month and a 5.6% increase from the same time last year.

Port Moody Market Stats – August 2020

In August there were 85 sales out of a total 111 residential properties listed in Port Moody. The sales-to-active listings ratio is 60.5% for detached homes, 82.9% for townhomes, and 86.8% for condominiums bringing the average residential property to 76.6% determining a Seller’s Market for the month.

Breaking it down to the property types, the HPI Benchmark Price for a detached home is $1,467,500, a 1.8% increase from the previous month and a 3.3% increase from the same time last year.

For townhomes, the HPI Benchmark price dropped -0.5% compared to the year before, reaching a benchmark price of $652,500.

The HPI Benchmark price of a condominium sits at $634,200; a -4% decrease compared to last month and a 1.9% increase from the same time last year.

Maple Ridge Market Stats – August 2020

In August there were 130 sales out of a total 598 residential properties listed in Maple Ridge. The sales-to-active listings ratio is 22.7% for detached homes, 25% for townhomes, and 15.9% for condominiums bringing the average residential property to 21.7% determining a Seller’s Market for the month.

Breaking it down to the property types, the HPI Benchmark Price for a detached home is $857,200, a 0.4% increase from the previous month and a 4.8% increase from the same time last year.

For townhomes, the HPI Benchmark price rose 5.9% compared to the year before, reaching a benchmark price of $553,400.

The HPI Benchmark price of a condominium sits at $362,500; a 0.4% increase compared to last month and a 3.1% increase from the same time last year.


About Tien Sher Real Estate Market Updates

At Tien Sher we want to bring you in-depth, accurate, simple, and easy to understand real estate stats and market updates of Greater Vancouver and the rest of the Lower Mainland.  These updates will provide you with a better understanding of the market so that you can make an informed decision when buying or selling property within Greater Vancouver. We present individual real estate market reports for Burnaby, New Westminster, Coquitlam, Port Coquitlam, Port Moody and Maple Ridge as well as an average report for Greater Vancouver.

All our statistics are sourced directly from the REBGV and the MLS®.  To get a more in-depth real estate market updates and analysis every month, sign up below to have our newsletter delivered directly to your inbox.

Monthly Real Estate Analytics Newsletter

No spam, just the latest real estate news, market updates and upcoming projects by Tien Sher 

CategoriesUncategorized

Metro Vancouver Market update – August 2020

According to the Real Estate Board of Greater Vancouver report (REBGV), there were a total of 3443 listings and home sales in the area totaled 1559 showing a Seller’s Market within the Metro Vancouver.

For all residential properties in Metro Vancouver the average Multiple Listing Service® (MLS®) Home Price Index (HPI) benchmark price is $1,078,800. This shows a 5.5% change over a yearly period and a 1.4% increase compared to the previous month.

Vancouver Market Stats – August 2020

In August there were 819 sales out of a total 1917 residential properties listed in Vancouver. The sales-to-active listings ratio is 45.7% for detached homes, 46.5% for townhomes, and 40.9% for condominiums bringing the average residential property to 42.7% determining a Seller’s Market for the month.

Breaking it down to the property types, the HPI Benchmark Price for a detached home is $2,293,650, a 1% increase from the previous month and a 5.8% increase from the same time last year.

For townhomes, the HPI Benchmark price rose 4% compared to the year before, reaching a benchmark price of $1,032,850.

The HPI Benchmark price of a condominium sits at $700,100; a 1.3% increase compared to last month and a 5.9% increase from the same time last year.

North Vancouver Market Stats – August 2020

In August there were 249 sales out of a total 488 residential properties listed in North Vancouver. The sales-to-active listings ratio is 64.8% for detached homes, 74% for townhomes, and 35.9% for condominiums bringing the average residential property to 51% determining a Seller’s Market for the month.

Breaking it down to the property types, the HPI Benchmark Price for a detached home is $1,614,900, a 0.9% increase from the previous month and a 9.5% increase from the same time last year.

For townhomes, the HPI Benchmark price rose 5.7% compared to the year before, reaching a benchmark price of $1,014,900.

The HPI Benchmark price of a condominium sits at $586,600; a 0.2% increase compared to last month and a 5% increase from the same time last year.

West Vancouver Market Stats – August 2020

In August there were 64 sales out of a total 191 residential properties listed in West Vancouver. The sales-to-active listings ratio is 34% for detached homes, 0% for townhomes, and 35.5% for condominiums bringing the average residential property to 33.5% determining a Seller’s Market for the month.

Breaking it down to the property types, the HPI Benchmark Price for a detached home is $2,671,600, a 0.4% increase from the previous month and a 6% increase from the same time last year.

The HPI Benchmark price of a condominium sits at $1,00,1600; a 0.4% increase compared to last month and a 5.7% increase from the same time last year.

Richmond Market Stats – August 2020

In August there were 334 sales out of a total 668 residential properties listed in Richmond. The sales-to-active listings ratio is 78.7% for detached homes, 53.4% for townhomes, and 31.7% for condominiums bringing the average residential property to 50% determining a Seller’s Market for the month.

Breaking it down to the property types, the HPI Benchmark Price for a detached home is $1,545,500, a 2.4% increase from the previous month and a 5.9% increase from the same time last year.

For townhomes, the HPI Benchmark price rose 4.3% compared to the year before, reaching a benchmark price of $806,900.

The HPI Benchmark price of a condominium sits at $658,000; a 1% increase compared to last month and a 5% increase from the same time last year.

Delta South Market Stats – August 2020

In August there were 93 sales out of a total 179 residential properties listed in Delta South. The sales-to-active listings ratio is 54.1% for detached homes, 41.5% for townhomes, and 57.5% for condominiums bringing the average residential property to 52% determining a Seller’s Market for the month.

Breaking it down to the property types, the HPI Benchmark Price for a detached home is $1,072,050, a 3.5% increase from the previous month and a 8.2% increase from the same time last year.

For townhomes, the HPI Benchmark price rose 5.3% compared to the year before, reaching a benchmark price of $640,900.

The HPI Benchmark price of a condominium sits at $537,950; a 1.7% increase compared to last month and a 1.3% increase from the same time last year.


About Tien Sher Real Estate Market Updates

At Tien Sher we want to bring you in-depth, accurate, simple, and easy to understand real estate stats and market updates of Metro Vancouver and the rest of the Lower Mainland.  These updates will provide you with a better understanding of the market so that you can make an informed decision when buying or selling property within Metro Vancouver. We present individual real estate market reports for Vancouver, West Vancouver, North Vancouver, Richmond and South Delta as well as an average report for Metro Vancouver.

All our statistics are sourced directly from the REBGV and the MLS®.  To get a more in-depth real estate market updates and analysis every month, sign up below to have our newsletter delivered directly to your inbox.

Monthly Real Estate Analytics Newsletter

No spam, just the latest real estate news, market updates and upcoming projects by Tien Sher 

CategoriesUncategorized

Fraser Valley Market Update – August 2020

According to the Real Estate Board of Greater Vancouver report (REBGV), there were a total of 5442 listings and home sales in the area totalled 1734 showing a Seller’s Market within the Fraser Valley.

For all residential properties in Fraser Valley the average Multiple Listing Service® (MLS®) Home Price Index (HPI) benchmark price is $622,200. This shows a 4.1% change over a yearly period and a 0.6% increase compared to the previous month.

Surrey Market Stats – August 2020

In August there were 745 sales out of a total 2329 residential properties listed in Surrey. The sales-to-active listings ratio is 32.9% for detached homes, 38.1% for townhomes, and 25% for condominiums bringing the average residential property to 32% determining a Seller’s Market for the month.

Breaking it down to the property types, the HPI Benchmark Price for a detached home is $1,044,300, a 1% increase from the previous month and a 7.5% increase from the same time last year.

For townhomes, the HPI Benchmark price rose 4.2% compared to the year before, reaching a benchmark price of $582,700.

The HPI Benchmark price of a condominium sits at $438,700; a -0.5% decrease compared to last month and a 4.9% increase from the same time last year.

Delta North Market Stats – August 2020

In August there were 81 sales out of a total 214 residential properties listed in Delta North. The sales-to-active listings ratio is 44.1% for detached homes, 55% for townhomes, and 13.7% for condominiums bringing the average residential property to 37.9% determining a Seller’s Market for the month.

Breaking it down to the property types, the HPI Benchmark Price for a detached home is $935,200, a 0% increase from the previous month and a 6.8% increase from the same time last year.

For townhomes, the HPI Benchmark price dropped -0.6% compared to the year before, reaching a benchmark price of $57,700.

The HPI Benchmark price of a condominium sits at $386,900; a -0.6% decrease compared to last month and a 4.8% increase from the same time last year.

White Rock Market Stats – August 2020

In August there were 279 sales out of a total 1100 residential properties listed in White Rock. The sales-to-active listings ratio is 19.3% for detached homes, 44.8% for townhomes, and 23.9% for condominiums bringing the average residential property to 25.4% determining a Seller’s Market for the month.

Breaking it down to the property types, the HPI Benchmark Price for a detached home is $1395300, a 1.8% increase from the previous month and a 5.2% increase from the same time last year.

For townhomes, the HPI Benchmark price rose 4.9% compared to the year before, reaching a benchmark price of $670,600.

The HPI Benchmark price of a condominium sits at $489,000; a 0.7% increase compared to last month and a -2% decrease from the same time last year.

Langley Market Stats – August 2020

In August there were 329 sales out of a total 968 residential properties listed in Langley. The sales-to-active listings ratio is 44.3% for detached homes, 38.6% for townhomes, and 23.9% for condominiums bringing the average residential property to 34% determining a Seller’s Market for the month.

Breaking it down to the property types, the HPI Benchmark Price for a detached home is $1,066,500, a 0.5% increase from the previous month and a 8.7% increase from the same time last year.

For townhomes, the HPI Benchmark price rose 3.6% compared to the year before, reaching a benchmark price of $576,200.

The HPI Benchmark price of a condominium sits at $400,900; a 0.5% increase compared to last month and a 4.6% increase from the same time last year.

Mission Market Stats – August 2020

In August there were 91 sales out of a total 219 residential properties listed in Mission. The sales-to-active listings ratio is 45.8% for detached homes, 54.5% for townhomes, and 9.7% for condominiums bringing the average residential property to 41.6% determining a Seller’s Market for the month.

Breaking it down to the property types, the HPI Benchmark Price for a detached home is $696,900, a 1.2% increase from the previous month and a 6.9% increase from the same time last year.

For townhomes, the HPI Benchmark price rose 4% compared to the year before, reaching a benchmark price of $465,500.

The HPI Benchmark price of a condominium sits at $348,200; a -1.3% decrease compared to last month and a -0.2% decrease from the same time last year.

Abbotsford Market Stats – August 2020

In August there were 290 sales out of a total 826 residential properties listed in Abbotsford. The sales-to-active listings ratio is 40.8% for detached homes, 49.7% for townhomes, and 21.6% for condominiums bringing the average residential property to 35.1% determining a Seller’s Market for the month.

Breaking it down to the property types, the HPI Benchmark Price for a detached home is $849,800, a 2.2% increase from the previous month and a 5.7% increase from the same time last year.

For townhomes, the HPI Benchmark price rose 0.9% compared to the year before, reaching a benchmark price of $465,200.

The HPI Benchmark price of a condominium sits at $325,100; a 0.9% increase compared to last month and a 4.4% increase from the same time last year.

 

About Tien Sher Real Estate Market Updates

At Tien Sher we want to bring you in-depth, accurate, simple, and easy to understand real estate stats and market updates of the Fraser Valley area and the rest of the Lower Mainland.  These updates will provide you with a better understanding of the market so that you can make an informed decision when buying or selling property within Fraser Valley. We present individual real estate market reports for Surrey, North Delta, White Rock, Langley, Mission and Abbotsford as well as an average report for the Fraser Valley.

All our statistics are sourced directly from the REBGV and the MLS®.  To get a more in-depth real estate market updates and analysis every month, sign up below to have our newsletter delivered directly to your inbox.

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Maverick August construction update

Construction of our Maverick project continues strong through the summer months

As we head into the finishing stages of the building, roofing work is complete and exterior siding is well underway. On the interior the upper floor suites which are the furthest advanced have cabinets and counter-tops installed and are getting ready for flooring and paint. Lower floor units are receiving their final approvals from inspectors and the city in preparation for finishes to be installed. Site services including BC Hydro, water, sanitary and sewer connections are underway and we are getting ready to start exterior landscaping works towards the end of Summer.

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Maverick Construction Time lapse

Construction work at MAVERICK continues as we head towards the summer months and look to take advantage of the favorable weather conditions. The roof is complete, crane removed and exterior cladding and siding systems continue their installation. The parkade is nearly complete and rough-ins for the electrical, mechanical and other building systems are ongoing to the suites and common areas within the building. Finishing material is being prepared and organized for the upper floors and will commence shortly. 

With Surrey constantly improving its transit infrastructure, there is higher growth in urban areas and with the Maverick not only being close to the city centre it is also close to the Gateway SkyTrain station.  

Surrey is one of British Columbia’s fastest growing city, but it is also one of the fastest growing cities within Canada.  Surrey’s growth rate is 2.9%, which is the largest hike in the number of residents year over year of any single municipality in British Columbia.  Hitting close to 1,400 new residents every single month the population is currently over half a million. 

As we move towards the re-opening phases for our Province and our communities, please remember to adhere to all that we have learned to make this pandemic stay on the decline.  Wash your hands thoroughly and avoid touching your face, make sure you keep the 6’ distance with others if they are not part of your ‘household bubble’ and wear a face mask when you are out and about running errands.  COVID-19 will one day be in our rear-view mirror but until then be safe as we look forward to welcoming you to your new home in MAVERICK. 

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