November 2018 - Market Update


Detached Home Prices A Surprise

The statistics released November 2nd revealed a surprising result in detached homes across the city of Surrey. Home prices were the same this time last month as well as the same time last year, while most experts were predicting a downturn. Condos and townhouses did continue to see the projected slides, likely due to their more sharp increases seen in 2017.

In our November Market Update, Steve is joined by good friend of the team Tom Storey. Tom is one of Toronto’s top real estate agents and not only does he help Steve go over the numbers, but he also has some tips for buyers looking to get into a market with high points of entry. Tom shares his theory “The Property Ladder”, encouraging buyers to get into the market as soon as they can (and why).

Benchmark Prices: (Surrey Combined)

? Detached = $1,087,100 ⏸
? Townhomes = $583,600 ⬇️
? Condos = $454,400 ⬇️