Surrey, Cloverdale, and Langley Housing Market Update - June 18, 2023

2.5 weeks into June and its been a busy month! Sales and listings have been happening at higher pace so far than in May.

Right now we have about 1,700 new listings which is 100 higher than May and for sales we are at about 1,100 which is 400 higher than May.

Even with the increase in rates, the real estate market seems to be moving along as we enter the summer months. In a normal real estate cycle, the market does tend to slow down once schools are off so it will be interesting to see if that does happen this cycle as well. The Bank of Canada announcement on July 12 is a date to keep in mind.

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