Brad Smyth at:   (604) 720-3687

Rhys Leonard at:   (604) 783-5575

1562 128th Street Surrey, BC V4A 3T7
(604) 631-3300


E.&O.E.: This information is from sources which we deem reliable but must be verified by prospective purchasers and may be subject to change or withdrawal. If your property is listed with a real estate broker, please disregard. It is not our intention to solicit the offerings of other real estate brokers. We are happy to work with them and cooperate fully. Sotheby’s International Realty and the Sotheby’s International Realty logo are registered (or unregistered) service marks used with permission. Sotheby’s International Realty Canada is Independently Owned And Operated.

January Newsletter

A year like no other. 

We have given a firm and swift kick goodbye to the arse of 2020. As it fades into oblivion we welcome 2021 with open arms and a stern warning; Be better than your predecessor! While there were some positives to take away from the past year, the feeling of Groundhog Day, without the charm of Bill Murray, was hard to escape. Resiliency, patience and kindness were needed in abundance and we recognize that we are not out of the woods yet!  But there have been glimmers of light giving us the notion that we are close. We feel very optimistic of what lies ahead this year.

In spite of the pandemic and perhaps due in part to the pandemic, last year was an incredibly busy year in the real estate market. With the lockdown, twelve months were condensed into about nine months.There were a few factors that played a part, and in no particular order they were: lowered interest rates on already low interest rates, not as much job loss as feared, everyone forced to stay local, and savings from not traveling or entertaining. 

The early returns for 2021 are that the demand is here now but there is very little inventory. We are seeing lots of traffic on those detached properties and townhouses currently available. A potential road block to more listings coming to market is that prospective sellers are hesitant, as they worry about what will be available once they sell and put their buyer's hat on. However that may be a premature worry as it is only January. This is not usually a month where we see lots of listings, so patience will be needed. We should see more come to market in the months ahead. However, this is not a market to expect success with a subject to selling your property clause.  

So when does this end? Well nobody knows for certain, but the feeling is once people can safely get on planes. That could be sometime in late summer/early fall. The question is where will prices be by that point?

The time we are in has the feeling of what we experienced in 2016/2017, although this time around it is the locals driving the market. We helped many clients navigate successfully through that super charged market, and we can do the same for you now. Contact us today to discuss a plan that will work for you!



  • With nothing being typical about 2020, December did not disappoint. Sales surged to end the year. Seasonality is out the window. Buyers are in abundance with little to choose from. There may have been a thought for some that it would take until March or later for product to come to market so lets pull the trigger now.

  • While there were more properties that came to market than we usually see in December,  the demand was such that the overall pool of inventory decreased. The only segment to buck this trend was the condo market. While still a strong showing when looked at in isolation, it paled in comparison to the demand for townhouses and detached homes.

  • With multiple offers becoming much more frequent it is no surprise to see prices tick up agin this month. Benchmark prices gained 12%-7% this past year in South Surrey/White Rock, depending on product segment.

  • Interest rates remain ultra low with little appetite for an increase. This along with everyone remaining local due to the pandemic should continue to keep demand high. The only visible impediment at the moment is lack of inventory. Many sellers that are looking to purchase up the food chain are hesitant to list their homes wondering where they will end up.

  • When sales are broken down for South Surrey/White Rock we saw the following: 
  1. 24.8% of the total attached market sales were between $400K - $500K and 22.5% were between $600K - $700K.
  2. the most "in demand" price band for attached properties - both condos and townhouses - was between $600K - $700K, having a 79% sales ratio (7.9 sales for every 10 listings).
  3. the overall attached South Surrey/White Rock market has a 49% sales ratio average (49 sales for every 100 listings). 
  4. detached houses priced between $1,250,000 - $1,500,000 totalled 30% of the total sales for houses; with those between $1,250,000 - $1,500,000 having a 92% sales to active ratio(9.2 sales to every 10 active listings).
  5. There were 29 sales above $2,000,000 in the detached market.
  6. Overall, for detached homes, there were 59 sales for every 100 active listings (a 59% sales to active listings ratio*)

* A sales to active listings ratio between 12 to 20 percent is considered a balanced market. Below 12 percent is considered a buyer's market and above 20 percent is considered a seller's market. 

Interested in reading the full statistics package for the Fraser Valley?
Click HERE for more information 


Looking for an escape? INSIGHT - The Art of Living- is a magazine and online portal featuring spectacular properties, interior design ideas and much more, curated by Sotheby's Realty. 
Click here to view: INSIGHT MAGAZINE

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