🇨🇦 Canadian House Prices Plummet in only 30 Days

Average Price, Median Price and Home Price Index (HPI), all provide a different picture of what is happening in the real estate market. In July 2023, the average detached home price in Surrey shows a shocking drop of -$100,000, but is that an accurate picture? What do we make of all of this?! Have real estate prices really plummeted within only 30 days?

In this month’s Surrey Report, Surrey Real Estate Specialist, Steve Karrasch of Macdonald Realty walks through the July 2023 stats for the City of Surrey and offers his insight into what he is currently seeing in the market. As with every Surrey Report, the team also breaks down the July 2023 benchmark stats for the City of Surrey.

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Benchmark Prices: (Surrey Combined) (+/- yoy):

🏠 Detached = $1,683,300 (-2.6%)
🏘 Townhomes = $893,000 (+1.3%)
🌆 Condos = $553,300 (+2.9%)

#SurreyRealtor #SurreyRealEstate #SurreyRealEstatePrices

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If you are looking for help or have any questions regarding real estate in Surrey, B.C. or the Fraser Valley, please reach out below using which ever way is most convenient. We also service real estate sales Langley, Delta, White Rock, Abbotsford, Mission, and more Greater Vancouver Cities.
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The opinions expressed herein are solely that of Steve Karrasch PREC and not Macdonald Realty or the FVREB and should not be misconstrued as advice or the basis of an agency relationship whatsoever. Please consult your professional advisor prior to taking action on any decisions relating to the matters discussed in these videos. This communication is not intended to cause or induce breach of an existing agency agreement.