Category Archives: Market Updates

April, 2014: White Rock / South Surrey Real Estate Market Update

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 […]

View full post »

March, 2014: White Rock / South Surrey Real Estate Market Update

BUYERS SEE VALUE IN SINGLE FAMILY DETACHED HOMES IN THE FRASER VALLEY (Surrey, BC) – In March, the Fraser Valley Real Estate Board (FVREB) processed 1,259 sales on its Multiple Listing Service® (MLS®), an increase of 12 per cent compared to the 1,128 sales during March of last year, and a 14 per cent increase […]

View full post »

February 2014: White Rock / South Surrey Real Estate Market Update

FRASER VALLEY MARKET SHOWING SIGNS OF SPRING (Surrey, BC) – The Fraser Valley Real Estate Board’s Multiple Listing Service® (MLS®) recorded 1,102 sales in February, an increase of 43 per cent over January’s sales and an increase of 21 per cent over the 913 sales during February of last year. Ray Werger, President of the […]

View full post »

January, 2014: White Rock / South Surrey Real Estate Market Update

NEW YEAR WELCOMES INCREASE IN SALES AND NEW LISTINGS IN FRASER VALLEY (Surrey, BC) – The Fraser Valley Real Estate Board’s Multiple Listing Service® (MLS®) recorded higher activity in January compared to one year ago with an increase in sales and a slight increase in new listings. The Board processed 772 sales on the MLS® […]

View full post »

December, 2013: White Rock / South Surrey Real Estate Market Update

FRASER VALLEY’S HOUSING MARKET QUIET, YET STABLE IN 2013 (Surrey, BC) – Neither predictions of a huge crash or notable recovery came to pass in 2013 as Fraser Valley’s real estate market stayed slow and steady, similar to 2012’s market. Fraser Valley’s total sales volume last year was 13,663 a decrease of 1.5 per cent […]

View full post »

November, 2013: White Rock / South Surrey Real Estate Market Update

FRASER VALLEY’S HOUSING MARKET COOLS IN NOVEMBER (Surrey, BC) – The Fraser Valley Real Estate Board’s Multiple Listing Service® (MLS®) recorded 986 property sales in November, an increase of 9 per cent compared to the 905 sales during the same month last year, however a decrease of 21 per cent compared to October’s 1,249 sales. […]

View full post »

October, 2013: White Rock / South Surrey Real Estate Market Update

FRASER VALLEY HOME SALES IN OCTOBER CONSISTENT WITH 10-YEAR AVERAGE (Surrey, BC) – An increase in sales and a decrease in new listings last month resulted in Fraser Valley’s real estate market returning to typical activity levels for October – on par with that month’s 10-year average. The Fraser Valley Real Estate Board posted 1,249 […]

View full post »

September, 2013: White Rock / South Surrey Real Estate Market Update

SEPTEMBER HOUSING MARKET SHOWS MARKED IMPROVEMENT OVER LAST YEAR’S HISTORICAL LOWS (Surrey, BC) – The Fraser Valley real estate market continues to edge closer to typical activity levels as September saw the largest year-over-year increase in property sales this year to date. The Fraser Valley Real Estate Board processed 1,131 sales on its Multiple Listing […]

View full post »

August, 2013: White Rock / South Surrey Real Estate Market Update

CONTINUED IMPROVEMENT IN FRASER VALLEY’S HOUSING MARKET (Surrey, BC) – Buyers and sellers continued to show greater confidence in the market last month as home sales on the Fraser Valley Real Estate Board’s Multiple Listing Service® (MLS®) edged closer to typical levels. The Board processed 1,258 sales in August, an increase of 17 per cent […]

View full post »

July, 2013: White Rock / South Surrey Real Estate Market Update

FRASER VALLEY HOUSING MARKET GETS ITS GROOVE BACK (Surrey, BC) – Buyers and sellers in the Fraser Valley took advantage of the record breaking hours of sunshine in July as both sales and listings on the Fraser Valley Real Estate Board’s Multiple Listing Service® (MLS®) experienced a noticeable lift. The Board processed 1,456 sales in […]

View full post »

June, 2013: White Rock / South Surrey Real Estate Market Update

PROPERTY SALES IN THE FRASER VALLEY REMAIN STATIC WITH LOCALIZED BRIGHT SPOTS (Surrey, BC) – Property sales in the Fraser Valley were 9 per cent lower in June compared to last year – 1,327 compared to 1,463 in June 2012 – remaining significantly below 10 and 20 year averages. However, data from the Fraser Valley […]

View full post »

May, 2013: White Rock / South Surrey Real Estate Market Update

PRICES CONTINUE TO HOLD THEIR OWN IN TRANSITIONING HOUSING MARKET (Surrey, BC) – The Fraser Valley Real Estate Board’s Multiple Listing Service® (MLS®) processed 1,379 sales in May, a decrease of 15 per cent compared to the 1,616 sales in May of last year and 1 per cent more than were processed in April. By […]

View full post »

April, 2013: White Rock / South Surrey Real Estate Market Update

The latest Statistics Package is now available on REALTOR Link®. For your convenience the press release has been included in this email. To view the full package, please click on the direct link under the release. The link takes you to our public website at www.fvreb.bc.ca. A reminder to members that you can easily share any […]

View full post »

March, 2013: White Rock / South Surrey Real Estate Market Update

LOWER INVENTORY KEEPS HOME PRICES IN CHECK AS ‘SLOW BUT STEADY’ MARKET CONTINUES (Surrey, BC) – In March, the Fraser Valley Real Estate Board processed 1,128 sales on its Multiple Listing Service® (MLS®), a 20 per cent decrease compared to the 1,412 sales during the same month last year, and a 24 per cent increase […]

View full post »

February, 2013: White Rock / South Surrey Real Estate Market Update

POSITIVE SIGNS FRASER VALLEY HOUSING MARKET IS STARTING TO MOVE (Surrey, BC) – Sales on Fraser Valley’s Multiple Listing Service® (MLS®) in February experienced a typical ‘early spring’ surge, increasing by 48 per cent in one month going from 617 sales in January to 913 last month. However year-over-year, they reflect a decrease of 28 […]

View full post »

January, 2013: White Rock / South Surrey Real Estate Market Update

HOME SALES SLOW TO NEAR HISTORIC LEVELS IN FRASER VALLEY AS BUYERS WATCH AND WAIT FROM SIDELINES (Surrey, BC) – A total of 617 sales were processed through the Fraser Valley Real Estate Board’s Multiple Listing Service (MLS®) in January, a decrease of 23 per cent compared to 799 sales during the same month last […]

View full post »

Housing Bubble in Vancouver (Lower Mainland, BC)

Housing Bubbleoney, By Cameron Muir, BCREA Chief Economist I am now convinced that we will never hear the end of housing bubble speak. The premise is now as firmly entrenched in popular consciousness as carbon emissions and TMZ. It has taken the form of idolatry in the blogosphere, where any countervailing narrative is demonized. It […]

View full post »

December, 2012: South Surrey / White Rock Real Estate Market Update

FRASER VALLEY REAL ESTATE SALES AT LOWER LEVELS IN 2012 (Surrey, BC) – Fraser Valley’s real estate market in 2012 will be remembered as the year buyers and sellers took a breather reflecting quieter sales, an average number of new listings and prices overall remaining flat. The president of Fraser Valley’s Real Estate Board, Scott […]

View full post »

November, 2012: White Rock / South Surrey Real Estate Market Update

HOME SALES DECREASE IN THE FRASER VALLEY; THOSE BUYING LOOKING FOR AFFORDABILITY (Surrey, BC) – Property sales through the Fraser Valley Real Estate Board’s Multiple Listing Service® (MLS®) decreased by 19 per cent in November compared to the same month last year, moving from 1,120 to 905. Sales also decreased 14 per cent month-over-month compared […]

View full post »

October, 2012: White Rock / South Surrey Real Estate Market Update

POSITIVE SIGNS FOR FRASER VALLEY HOUSING MARKET (Surrey, BC) – The Fraser Valley Real Estate Board (FVREB) processed 1,053 sales on its Multiple Listing Service® (MLS®) in October, a decrease of 8 per cent compared to the 1,139 sales during October last year however, a 23 per cent increase compared to September. Scott Olson is […]

View full post »

September, 2012: White Rock / South Surrey Real Estate Market Update

BUYERS TAKE ‘WAIT AND SEE’ APPROACH FOR SINGLE FAMILY HOMES; CONDOS HOLDING THEIR OWN (Surrey, BC) – For the second month in a row, property sales on the Fraser Valley Real Estate Board’s Multiple Listing Service® (MLS®) have decreased to historically low levels. In September, a total of 857 sales were processed on the MLS®, […]

View full post »

August, 2012: White Rock / South Surrey Real Estate Market Update

HOME PRICES RESILIENT DESPITE LOWER SALES IN THE FRASER VALLEY (Surrey, BC) – In August, sales on the Fraser Valley Real Estate Board’s Multiple Listing Service® (MLS®) ranked the third lowest for the month in the last decade – after 2008 and 2010. Last month’s 1,073 property sales represent a 20 per cent decrease compared […]

View full post »

July, 2012: White Rock / South Surrey Real Estate Market Update

SEASONAL DIP IN SALES; HOME PRICES CONTINUE TO HOLD STEADY IN THE FRASER VALLEY (Surrey, BC) – The Fraser Valley Real Estate Board processed 1,393 sales on the Multiple Listing Service® (MLS®) in July, an increase of 5 per cent compared to the 1,322 sales during the same month last year, and 5 per cent […]

View full post »

June, 2012: White Rock / South Surrey Real Estate Market Update

FRASER VALLEY’S HOUSING MARKET ‘STEADY AS SHE GOES’ (Surrey, BC) – For the fifth consecutive month, the ratio of property sales in the Fraser Valley compared to the number of listings on the market has remained stable. In June, it was 14 per cent – the same as it was in February and April of […]

View full post »

A Breakdown of the New Mortgage Rules

Huge news has come down the pipe about changes to mortgage lending.  Whether  you are looking to buy a home or refinance a current mortgage, these changes will affect you.  The changes will come into effect on July 9th, 2012 so if you have been considering mortgage financing, you may want to get it done sooner […]

View full post »

New Mortgage Rules FAQ

On Thursday Finance Minister Jim Flaherty announced changes to the rules for government-backed insured mortgages for residential properties of 1-4 units in this announcement four new measures were announced effective July 9th, 2012 for new government-backed insured mortgages. Below are some of the frequently asked questions from prospective buyers and those homeowners who currently have […]

View full post »

HARPER GOVERNMENT TAKES FURTHER ACTION TO STRENGTHEN CANADA’S HOUSING MARKET

As part of the Government’s continuous efforts to strengthen Canada’s housing finance system, the Honourable Jim Flaherty, Minister of Finance, today announced further adjustments to the rules for government-backed insured mortgages. “Our Government stands behind the efforts of hard-working Canadian families to save by investing in their homes and their future,” said Minister Flaherty. “The […]

View full post »

May, 2012: White Rock / South Surrey Real Estate Market Update

WARMER WEATHER GENERATES ACTIVITY IN FRASER VALLEY’S HOUSING MARKET (Surrey, BC) – Home sellers and buyers in the Fraser Valley took advantage of the first warm spell of the year triggering an increase in new listings and keeping sales steady last month. The Fraser Valley Real Estate Board posted 1,616 sales in May, an increase […]

View full post »

April, 2012: White Rock / South Surrey Real Estate Market Update

FRASER VALLEY HOUSING MARKET REMAINS STEADY; WHILE SELECTION CONTINUES TO IMPROVE (Surrey, BC) – There were 1,435 property sales processed on the Fraser Valley Real Estate Board’s Multiple Listing Service® (MLS®) in April, reflecting a 5 per cent decrease compared to the 1,516 sales in April of last year, and a slight increase over the […]

View full post »

March, 2012: White Rock / South Surrey Real Estate Market Update

FRASER VALLEY HOUSE HUNTERS LOOKING FOR GOOD BUYS; KEEPING PRICES RESILIENT (Surrey, BC) – The The Fraser Valley Real Estate Board (FVREB) processed 1,412 sales on its Multiple Listing Service® (MLS®) in March, a decrease of 22 per cent compared to March of last year, however only 13 per cent less than the 10-year average […]

View full post »

February, 2012: White Rock / South Surrey Real Estate Market Update

TYPICAL ‘PRE-SPRING’ SURGE IN HOME SALES & NEW LISTINGS KEEPS MARKET STEADY (Surrey, BC) – The Fraser Valley Real Estate Board’s Multiple Listing Service® (MLS®) recorded 1,269 sales in February, an increase of 59 per cent compared to January and a 1 per cent decrease compared to the 1,279 sales during February of last year. […]

View full post »

January, 2012: White Rock / South Surrey Real Estate Market Update

2012 KICKS OFF WITH NEW HOME PRICE MEASUREMENT; AND, A SLUGGLISH START TO SALES (Surrey, BC) – The Fraser Valley Real Estate Board’s Multiple Listing Service® (MLS®) processed 799 sales in January, a decrease of 4 per cent compared to the 834 sales in January last year and 10 per cent fewer than were processed […]

View full post »

Affordable Housing in the Lower Mainland

LOOKING FOR GREATER AFFORDABILITY? HEAD TO FRASER VALLEY SURREY, BC – According to the president of the Fraser Valley Real Estate Board (FVREB), international affordability studies regarding Vancouver are misleading because they don’t reflect the reality that homebuyers purchase more affordable homes every day in neighbouring communities. Sukh Sidhu is a REALTOR® who lives and […]

View full post »

December, 2011: White Rock / South Surrey Real Estate Market Update

2011 REAL ESTATE MARKET SHOWCASES REGIONAL VARIATION (Surrey, BC) – Overall, Fraser Valley’s real estate market in 2011 was below the 10-year average in property sales and above average in the number of new listings received, however, according to the president of the Fraser Valley Real Estate Board, results varied widely depending on the community […]

View full post »

2012 Real Estate Market Outlook

Balanced conditions set to return to most Canadian housing markets in 2012, while residential values expected to set new records

View full post »

November, 2011: White Rock / South Surrey Real Estate Market Update

STEADY DEMAND FOR HOMES HEADING INTO THE HOLIDAYS (Surrey, BC) – The November property sales in the Fraser Valley are up slightly compared to last year and didn’t experience the usual month-over-month seasonal decline. The Fraser Valley Real Estate Board processed 1,120 sales in November on its Multiple Listing Service® (MLS®), an increase of 3 […]

View full post »

October 2011: White Rock / South Surrey Real Estate Market Update

ADVANTAGE BUYERS… IN FRASER VALLEY’S HOUSING MARKET (Surrey, BC) – Below average home sales combined with a regular influx of new listings continue to give buyers the upper hand in communities south of the Fraser River, including Mission. However, according to the president of the Fraser Valley Real Estate Board, Sukh Sidhu, “There is action […]

View full post »

September, 2011: White Rock / South Surrey Real Estate Market Update

  MORE LISTINGS, FEWER SALES KEEPING LID ON HOME PRICES IN THE FRASER VALLEY (Surrey, BC) – Property sales on the Fraser Valley Real Estate Board’s Multiple Listing Service® (MLS®) in September were the third lowest for that month in the last decade, while new listings for September ranked the second highest. Sukh Sidhu is […]

View full post »

August, 2011: White Rock / South Surrey Real Estate Market Update

HOME SALES IN FRASER VALLEY HOLD STEADY IN AUGUST (Surrey, BC) – The Fraser Valley Real Estate Board processed 1,341 sales on the Multiple Listing Service® (MLS®) in August, an increase of 35 per cent compared to the 997 sales during the same month last year and slightly higher than the 1,322 sales in July. […]

View full post »

July, 2011: White Rock / South Surrey Real Estate Market Update

  HOME SALES TAKE SUMMER DIP; PRICES REMAIN STABLE IN THE FRASER VALLEY (Surrey, BC) – The Fraser Valley Real Estate Board processed 1,322 sales on the Multiple Listing Service® (MLS®) in July, an increase of 20 per cent compared to the 1,101 sales during the same month last year, however 17 per cent fewer […]

View full post »

F a c e b o o k