January 2021 Monthly Market Update

Happy New Year to you! I wish you health and happiness for 2021. 
The activity level in the December market was astounding. In a year when COVID-19 came into our lives, the last thing we thought would happen is six months of relentless demand for single-family homes, and it seems as though it is not slowing down. South Surrey/White Rock saw an increase of 17.3% in average sale prices for detached homes, and as I checked the statistics at the end of the month/year, the Fraser Valley Real Estate Board stats showed 1480 listings and 2083 Sales. It is no wonder that I continue to receive calls on my listings even after posting a Sale. Realtors are calling me to find out if I have any more properties coming on the market. The Inventory in South Surrey is at the lowest it has been since January 2016. If you have been holding off selling and have held off due to the pandemic, it would be prudent to chat to me about a listing plan. The Real Estate industry, myself included, has adjusted to the provincial health guidelines, which, coupled with low-interest rates and a desire for more space, has created a Sellers Market for detached homes. 
In 2020, sales of the three main residential property types were as follows: 8,176 single-family detached, 5,102 townhouses, and 4,357 apartments. Year-over-year, sales of detached soared by 41.7 per cent compared to 2019; townhome sales increased by 31.2 per cent and sales of apartments increased by 5.9 per cent.
If you are curious about your home value after receiving your property assessment, please reach out to me, and I will happily give you an idea of what your home is worth in this market. 
Have a super day! All the Best, Amanda