Optimistic as we have been, the fall real estate market has been nothing to write home about.

Despite improved borrowing rates a slight uptick in September / October Real Estate sales in Surrey and the Fraser Valley remain sluggish, firmly entrenched in a buyer’s market.   As we move further into fall/winter homes sales have continued to underperform, leaving buyers, sellers, and investors wondering why.

It is unreasonable to single out any one factor or policy driving today’s market dynamics (as there are many) so lets look at a few …

Economic Uncertainty:  Inflation, interest rate volatility, political volatility, currency fluctuations, supply chain disruptions, migration, demand and affordability pressures are all at play.  Yikes.  This uncertainty weighs heavily on buyer confidence and has ripple effects that touch every corner of our local real estate market.  According to the Fraser Valley Real Estate Board, “… recent economic uncertainty seems to have weighed more heavily here … ”.

Ongoing Price Declines:  Locally, benchmark home prices have been dropping for six consecutive months now.  Compared to this time last year,  Surrey, Sullivan/Panorama and Cloverdale detached homes are down -5 per cent, townhomes down -6 per cent, apartments down almost -8 per cent.  South surrey / White Rock looks similar.  Detached homes down – 8 per cent, townhomes down – 6 per cent, apartments down – 8 per cent.  While falling prices might seem like a boon for buyers, they signal uncertainty, causing both buyers and sellers to hesitate.

Rising Inventory:  The Fraser Valley is experiencing decade-high inventory.  As of September, the sales-to-active listings ratio sits at just 9 per cent, well below the 12–20 per cent range considered balanced.  This trend cools any sense of urgency a buyer might have otherwise, making buyer cautious, analytical and strategic.

October 29th the Bank of Canada reduced its target for the overnight rate by 25 basis points to 2.25% but according to the BOC “ … the Canadian economy is facing a difficult transition. The structural damage caused by the trade conflict reduces the capacity of the economy and adds costs. This limits the role that monetary policy can play to boost demand while maintaining low inflation. The Bank is focused on ensuring that Canadians continue to have confidence in price stability through this period of global upheaval. “

 So where does that leave those looking to enter the market in the coming months?

Buyers:  Be optimistic but strategic, lock down your financing terms and watch global trends to time your purchase locally.

Sellers:  Stay informed and most important, adaptable.  Watch interest rate and consumer trends to time your listings launch or adjust your asking price when needed.

Investors:  Continue to diversify.  Have all your finances is order so you can act quickly.  Work with a real estate professional who understands how to find opportunity amongst the factors noted above.

In summary, until economic confidence improves and supply better aligns with demand, local real estate markets are likely to remain subdued.  If your curious how you might best navigate these conditions, reach out.  

We can help you draft a smart and strategic plan that aligns with your goals.

We have just listed this 3 level home in Summerfield.  Minutes to HWY 99, the US Border, Grandview Rec Center and the Shops at Morgan Crossing.

Just over 3,200sqft of open concept living space including 4 bedrooms on the upper level plus a self contained 1 bedroom in-law suite in basement.

Bright, open and airy great room plan walks out to landscaped yard, covered dura-deck with bbq area, outdoor fireplace, hot tub and slate stone patio.

Family friendly plan on the upper level boasts 4 generous size bedrooms including primary suite with vaulted ceiling, walk in closet and ensuite bath.

Flex room in the basement can be used as part of the main level plan or as an additional bedroom for the basement occupants.

Features include 10ft ceilings, hardwood flooring, California shutters, granite tops, functional cupboards plus pantry storage.

Double car garage plus additional driveway and street parking.

16943 0A Ave is asking $1,599,900 and showing by appt only.

View full image gallery, video, floor plan and specs HERE

We have just listed this well cared for 4 bed and bath, 2 story, cul-de-sac home in Ocean Parks Amble Greene neighbourhood. 

Almost 3,000sqft of immaculate living space on a 13,547sqft lot. The main level offers formal living/dining space, an open plan at back with bright solarium and family room overlooking the landscaped back yard, perfect for family hang outs and entertaining.

Bonus flex room and 4th bedroom also on the main level. Upper rooms include primary suite, ensuite bath and tons of closet space plus 2 more generous size bedrooms.

Huge patio area at back plus a smaller patio off kitchen perfect for outdoor kitchen and bbq. Full size double car garage with deep parking pad.

Perfectly situated in a private, parklike setting but only minutes to the amenities of Ocean Park Village, local library, local schools, easy access parks and beaches.

View images, video, specs and floor plan HERE

We have just listed this rancher style end unit townhome, across from Sunnyside Park pool, playground, tennis and tennis courts.

Walking distance to Peninsula Village, movie theatre, parks and transportation and only minutes to Grandview shops and rec center.

Open concept main floor with 3 generous size bedrooms walks out to private, south facing fenced back yard and patio.

Bonus rec / flex room above the garage perfect for media, hobbies, home office, 4th bedroom or guest suite.

Updates include bright kitchen with shaker cabinets, quartz countertops, stainless appliances and laminate flooring, updated bathrooms, 8 year roof, 3 year windows, 2 year cedar fencing.

3 car parking includes single garage 10 x 19, single car pad and parking stall # 8 at front door.

Pets okay. $508.22/month in maintenance fees.

Rarely available rancher plan, come check it out!

View specs, video and full image gallery HERE

Dear Clients, Neighbours and Friends,

Despite our patience and optimism for a brisk fall market the uptick in buyer demand has yet to materialize.  There are many factors at play, pointing to a market that is neither overheating nor collapsing but continues to be highly sensitive to external pressures.

Canadian Economy:  The focus of global financial markets has shifted to concerns about growth prospects in Canadian and American economies.  Tariffs drove sharp declines in Canadian exports along with business investment.  Stabilizing (but lower) trade and ongoing growth in household spending may help the economy rebound but as rising unemployment and ongoing tariff clarity loom, we expect economic growth to be hampered.

Interest Rates:  The Bank of Canada has made a tangible shift in policy rates with their most recent lowering of interest rates on September 17th.  Fixed rates have been drifting higher thru the summer however recent economic data should cause this trend to reverse course.  The BCREA expects the uninsured five – year fixed rates to come down to around 4.45 per cent by year end.  Variable rates have moved in close alignment with fixed for most of the year, but the impacts of rapidly evolving trade policy will likely pull variable rates closer to 4 per cent by year end.  We are optimistic this downward trend in lending rates will stimulate stronger sales activity by the new year.  The next rate announcement is October 29th. 

Housing Supply:  Resale homes / active listings are on the rise however current supply trends are highly variable.  Contributing to this variability is the flow of new construction units for sale. Projects that were underway in recent years are now on sale, saturating their local market.  Other areas have projects that developers have tabled due to weak demand, some even shifting their concepts from condos to purpose built rental housing.  Despite the variability, we expect supply across housing types and markets to steadily tick upward as we move into 2026.

Buyer Confidence:  Despite the favorable rates and increase in supply buyers continue to be cautious around the idea of making a move.  With pricing slowly (but surely) trending downward, the thinking for most is to wait for pricing to soften further before jumping in.  In this scenario, we see sellers of well positioned homes in good locations attracting the few who must make a move but improving financing and supply conditions continue to give buyers all the leverage and bargaining power.

Reflecting on the factors noted above, we anticipate a modest rebound in sales activity at some point between now and the new year.  All the broader trends point to it, but more patience will be required.  Sellers in these conditions need to reevaluate their ask prices to lead the downward trend in pricing, as opposed to follow.  Asking at or below recent sale prices should do the trick but depending on local conditions, ask prices may need to be 10-15 per cent below recent sales. 

For sellers looking to downsize or move sideways, there are many opportunities to take advantage of. 

If your curious what we mean, give us a call to chat about it.  We can help draft a course of action that is in line with your short- and long-term real estate goals.

Jenn

Just listed in Ocean Park Place!

A 55+ adult oriented building and one of the very few options buyers have for apartment living in Ocean Park.  Located in the heart of OP village with Safeway, Chans, coffee shops and boutiques plus OP library right at your doorstep and only minutes to local parks, greenspaces and beaches.

Quiet, sunny and spacious top floor 2 bedroom south facing unit with 28ft sundeck overlooking pond and courtyard.

Upgrades include kitchen and bathroom re-do, white shaker cabinets, backsplash, quartz countertops, scraped smooth ceilings, lighting and paint.

Large ensuite bathroom with adapted shower perfect for walk or wheel in access. In suite laundry closet plus bonus storage room in unit.

1 parking stall, 1 storage locker, no pets allowed, private access gate to Ocean Park Village.

304 12890 17th Ave is asking $549,900 and showing by appt only.

View full image gallery and property specs HERE

We have just re-listed this Foxridge bult home on of the largest lots in Panorama Hills - almost 6,700sqft - for $1,639,900

Bright, open and airy, well cared for 5 bedroom, 4 bathroom home with full basement and over 3,500sqft of living space.

Open concept plan on main floor with bedroom at the front, great room space including kitchen, living, eating area at back opens onto huge south facing sundeck and pergola with private south facing fully fenced yard.

Upper level offers huge primary suite, ensuite bath, his/hers sinks, vaulted ceiling and WI closet. Generous size kids rooms share an ensuite bathroom.

Basement with high ceilings and separate entry can flex as a rec/media/teen/guest/home office or upgrade to a in-law suite. Roughed in for plumbing and electrical.

Full size double garage, large parking pad for RV/rec vehicle.

Walk to the parks, schools, rec and shops of Panorama.

14526 58th Ave is now asking $1,639,900 and is open this Sunday September 14 from 2-4pm, come check it out!

View interior images, video, floor plan and specs on our blog page HERE

The British Columbia Real Estate Association’s (BCREA) most recent housing forecast brings positive news for Surrey homeowners considering a move.

After a quieter couple of years, the outlook for the remainder of 2025 points to a healthier, more active market.  Buyers who have been holding off are starting to recognize that waiting for greater certainty could mean missing opportunities.

This leaves Surrey set to benefit from renewed buyer demand and upward pressure on pricing.

Here are 5 reasons why now is a good time to sell …

1. Market activity is expected to pick up …

 BCREA is projecting a solid increase in residential sales across the Fraser Valley through late 2025. Surrey, as one of the most desirable and fastest-growing cities in the region, is seeing this momentum firsthand. Buyers who paused during higher interest rate periods are now looking to come back, creating fresh energy and stronger demand. For sellers, this means more showings, more offers, and more opportunities to move forward confidently.

2. Home prices have been stable

While Surrey has been experiencing softer pricing over the last year the BCREA forecast calls for modest but stable growth in home values. This is good news for sellers who choose to position their home competitively in terms of asking price.  Current benchmark pricing for detached homes in Surrey, Panorama, Cloverdale and White Rock range from $1.44,000 to $1.79,000.  Townhomes $811,000 to $921k.  Apartments $572, 000 to $588,000.

3. Inventory levels have been stable

Even though more listings are expected to hit the market this fall, Surrey’s housing supply remains relatively tight as new listings dropped over the summer.  This is especially true in sought-after markets like Sullivan/Panorama, Cloverdale, South Surrey and White Rock. Sellers who go the extra mile to present their home well are more likely to stand out and sell quickly.

4. Interest rates are expected to come down

The Bank of Canada's policy rate is holding steady at 2.75% however several forecasts suggest the BOC might cut its rate further by year-end.  The next BOC rate decision is scheduled for September 17th.

5. A unique window of opportunity

Surrey will continue to draw buyers thanks to its family-friendly communities, growing transit infrastructure, and proximity to Vancouver. Selling now allows you to take advantage of early market momentum while supply is still limited and pricing still stable.  It’s a sweet spot that combines incoming demand with moderate supply.

The bottom line for sellers …

According to the BCREA’s latest forecast, the remainder of 2025 and into 2026 is shaping up to be a promising time to sell. A stabilized interest rate environment, a new wave of buyers, and market regulations designed to encourage market balance can all work together to help sellers achieve their real estate goals. 

If you have been considering a fall list, give us a call.  We can help you work through home values, timing considerations and calculate the costs associated with a move. 

Jenn & Colin   

604-583-2000

Million dollar views included, bright and airy 2 bed and bath condo in Semiahmoo Shores. Perfectly positioned, overlooking White Rock beach & pier with unobstructed, south facing panoramic ocean views.

Over 1,200sqft of living space. Generous size rooms throughout including primary suite, ensuite bath and his/hers closets plus bonus flex room with additional picture windows and x-tra wide skylight.

Lots of capital investments already made including roof, siding, windows, building envelope, walkways and retaining wall. 1 pet okay, 1 parking stall, 1 storage locker. Quick possession possible.

Located next to walking trails, promenade, restaurants, coffee shops, boutiques and within walking distance to the rec and amenities of White Rock town center.

303 15165 Marine Drive is asking $999,900 and showing by appt only.

View image gallery, cinematic video, floor plan and listing specs HERE

Clients, Neighbours and Friends,
 
Real Estate sales activity in Surrey, South Surrey and White Rock have continued to level off as we move further into a typical seasonal slowdown.
 
This makes conditions ideal for home buyers in these areas but the persistent gap between buyers’ and sellers’ price expectations, higher borrowing rates and tariff uncertainty continue to suppress home sales overall.
 
“The housing market, like other sectors, continues to process the effects of the ongoing tariff threats,” said Baldev Gill, CEO of the Fraser Valley Real Estate Board,  “The slowdown in home sales this spring and summer has largely been driven by uncertainty and fear. Buyers and sellers are taking measures to offset the anticipated impacts, knowing that the economic effects of tariffs will likely take some time to be fully realized throughout the system.”
 
July’s stats release from the Fraser Valley Real Estate Board logged sales levels approximately 23 per cent below the 10-year average. Conversely, home supply is now nearly 50 per cent above the 10-year seasonal average. This same stats release shows the sales-to-active listings ratio now firmly planted in buyers market territory at 11 per cent. (buyers markets are below 12 per cent, sellers markets are above 20 per cent) …
 
… this comes as no surprise to anyone trying to sell their home in recent months.
 
Sellers have been working harder than they did a year or two ago.  In a market where buyers are cautious and have ample choice, successful sellers are going the extra mile to meet buyers where they’re at—staging their home, handling repairs up front, and most importantly, pricing their homes realistically for current market conditions.
 
From a pricing perspective, we are still seeing sale prices soften across home types but particularly detached homes in Surrey, South Surrey and White Rock.  If we use the MLS Home Price Index to assess this, pricing has been on a slow, steady decline for the last 3 years. 

If historical trends hold true, we could potentially remain in buyers market territory into 2027 as real estate markets typically fluctuate in 5-year cycles on average.
 
Buyers market notwithstanding,  the future is still bright for sellers!  Consider, when compared to 5 years ago, homeowners across property types have realized approximately 30 to 40 per cent equity growth! 
 
We can all get paralyzed by the noise around us and its no doubt we live in an age of global uncertainty however, this is not the first time we have faced these challenges, and it won’t be the last. 
 
Real Estate markets have peaks and valleys - and - there has never been a future peak lower than the past one.
 
So if you want to chat about your Real Estate goals, give us a call.  It’s what we do.

Jenn & Colin