Surrey, Cloverdale, and Langley Housing Market Update - Mar. 12. 2023

Listings and sales are down across the board. So far in March not many sales have been reported so far. Just 1 townhome sold in Surrey and 1 condo in Langley. I am sure we will see these numbers rise as we get further into March. To put this into perspective, sales in March 2022 were 766 halfway through the month and so far we only have 368 sales for the Fraser Valley region. About a 50% drop.

If we compare listings from last year March to now, its more than 50% less for new listings coming to the market. Usually in a week, we get about 35 new townhome listings in Langley and this past week we only got 18.

As everyone knows, the BOC did not increase rates this time. That's great news for buyers and sellers who are looking for some stability in the market to finally make that move.

If you want to know what’s happening in your neighborhood, please give us a call or send us a DM and we’d be happy to help.

PJ @ 604-725-1258 | Razaik @ 604-537-8447