November 2016 Market Report for Surrey Langley & White Rock

Monthly Average Prices in Cloverdale BC
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Detached Housing in Cloverdale have declined over the last 30 days by 1.4%. Townwhouses in Cloverdale however, have had an increase in average price by 2.5% due to the still high prices of detached homes in Cloverdale and demand shifting to a lower price range. Condos in Cloverdale have also remained strong with an increase by 3.7$ in average price.

Surrey Central Average Prices

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All across the board Surrey Central Average prices have declined for all three categories of Detached Homes, Townhouses and Condos. Condos for Sale in Surrey Central which allow rentals in strata have remained strong in price due to the low vacancy rate in the are and high rental income potential. However all other condos for sale in surrey central that do not allow rentals have seen a decrease in average prices. This likely will not remain as developers and builders are continuing with construction despite the recent slow down.

Average Prices in White Rock/ South Surrey

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Both Detached Homes in and Townhouses in White Rock have seen a decline in average prices in the last month. Detached Homes took a whopping 17% drop! Townhouses for sale in White Rock also dropped in average price but only a 0.6% decline. Condos for sale in White Rock actually saw a slight increase of 0.2% in average price remaining strong and in demand.

 

All of Surrey Combined Average Sales Price

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Detached homes in Surrey have seen only a slight decrease of 1.2% as a whole. Townhouses remaining strong in the demand section and with limited supply have stayed at a constant. Only Condos in Surrey have seen an increase in average price. This is a statistic of Surrey as a whole however and not to be relied on in different pockets of each community. Every sub-community within Surrey will have a different stat.

Average Sale Prices in Langley

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Townhouses and Condos have both seen a healthy increase of average sale prices, whereas detached homes in Langley have seen a small 4.5% decrease in average sale prices. 4.5% is small but not when looking into the multi-millions. Homes in Cambell Valley and other luxury residences have dropped quite a bit in value. Townhouses in Langley have seen a 4.7% increase and Condos have seen a 3.8% increase in average prices in the last 30 days.

 

Ryan Taylor

Ryan Taylor Real Estate Agent

Are you still having some questions? Just contact me and I'll be happy to provide answers and professional advice you are looking for.

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