April 2024 Mid Month Market Update

The real estate markets in Surrey, Cloverdale, and Langley are buzzing this spring! With a notable influx of listings and stable sales, the timing for buyers to enter the market has never been better. Whether you're looking to make your first home purchase, invest, or even upsize, the current landscape offers compelling reasons to make a move. Let's delve into the dynamics of these vibrant markets and discover why now is an opportune moment for potential homebuyers.

A Closer Look at the Current Market Trends

Exploding Listings in April
As we've crossed the midpoint of April, the real estate market is showing signs of heightened activity. From about 1,500 new listings around March 15th, we've seen an impressive jump to over 2,100 listings. This surge represents a significant increase in available properties, providing potential buyers with a wider selection of homes.

Consistent Sales Indicate a Healthy Market
Despite the increase in inventory, sales have maintained a steady pace with approximately 750 transactions so far this month. This consistency in sales amidst an expanding inventory is indicative of a robust market environment, where both sellers and buyers are actively engaged, ensuring that properties continue to sell at a decent rate.

Spotlight on Surrey, Cloverdale, and Langley

Surrey: A Hub for New Listings
Surrey, known for its dynamic community and growing market, has experienced a substantial increase in listings. As of today, there are 253 new single-family homes on the market, along with 147 townhomes and 245 condos. This marks an increase of 50-100 listings compared to the previous month, highlighting Surrey as a hotspot for real estate activity.

Cloverdale: Condo Market Doubles
In Cloverdale, the condo market has seen an extraordinary rise, with new listings doubling to 17 already this month. This spike in condo listings is a clear signal for buyers interested in more affordable or smaller-scale housing options in a community with a small-town vibe but all the conveniences of urban living.

Langley: Steady Growth Across All Properties
Langley continues to show a steady increase in real estate inventory across all property types. With an additional 20-40 listings for single-family homes, townhomes, and condos, Langley offers a variety of choices for buyers looking to enter the market or invest in property. The consistent growth in listings ensures that there are options to suit various preferences and budgets.

Why Now Is the Time to Buy
The current real estate conditions in Surrey, Cloverdale, and Langley are uniquely favorable for buyers. The increased number of listings provides more opportunities to find the perfect home, while consistent sales reflect a healthy market where investment retains its value. For those on the fence, consider the following:

More Options: Increased listings mean more choices, allowing you to find a property that fits your exact needs and preferences.
Competitive Pricing: With more homes on the market, sellers might be more willing to negotiate, potentially leading to better deals.
Healthy Market Conditions: The balance between listings and sales suggests a stable market, reducing the risks often associated with buying in more volatile conditions.

Conclusion: Making Your Move

If you're contemplating making one of the biggest life decisions—buying a home—there's no need to compromise or wait for "the right time." The right time is now, especially in the bustling markets of Surrey, Cloverdale, and Langley. With fresh inventory hitting the market and conditions favoring buyers, this is your moment to act. Dive into the market, explore your options, and perhaps discover a place you can call home sooner rather than later. Don't miss out on capitalizing on these thriving real estate opportunities!

Considering making a move in the real estate market or need more insights into buying in Surrey, Cloverdale, or Langley? Now's the time to turn those considerations into actions. Happy house hunting!

Contact us through:
📱Call/Text: PJ @ 604-725-1258 & Razaik @ 604-537-8447
📧 Email: info@cheemagroup.ca

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