We just sold what we would consider a hot product in today’s market.
Located in one of the many hearts of the Sullivan / Panorama area … this home sits in Sullivan Plateau approx 149th and 62nd Ave. This area was developed by multiple builders from 2004 to 2008 around the same time Surrey put “Sullivan Panorama” on the map.
This particular home offers what family buyers need most:
Great room floor plan
4 bedrooms upstairs
A full basement suite to offset the mortgage
A yard large enough for the kids and pets to play but not so large the home value/cost becomes prohibitive
Local/walk-able schools and amenities
As soon as this home hit the market we saw a swell of interest. Almost all families with children. One wonders how any family can afford to purchase a detached home – in one of the most desirable areas of Surrey - with Benchmark Prices posting in February at $865,100 …
(townhomes at $457,100 condos at $318,200)
… but the ultimate buyer negotiated with their realtor through multiple offers - inevitably purchasing for 99% of the asking price. (multiple offers are back in swing but more variable and price sensitive in comparison to what we saw this time last year)
Although February saw some new listings come online, detached homes in Surrey and South Surrey are in short supply right now. Just as we have many clients waiting for the cold weather to pass … your neighbours are likely waiting for some warmer weather before they decide to list. Townhomes and condos throughout Surrey are in even shorter supply with active listings in February down -20% and -8.6% respectively from January.
We know the tulips are still struggling to bloom but we are here to suggest … detached home, townhome or condo … If you have been thinking about a sale in the near future … sooner may serve you.
Coming off last year’s extra-ordinary conditions many in our profession are unsure how 2017 will play out and although pricing has softened, demand is high. And for those of you looking to sell then buy, selling now (while stock is low) pushes sale prices up and positions you well for a purchase (when stock is higher) ie: multiple options to choose from and downward pressure on purchase prices.
If your thinking about what we have said above … give us a call and we can chat about it. 604-583-2000
Regardless, when the time is right for you we are in your hood and want to go to work for you!