New year, new market shifts! The real estate landscape in South Surrey & White Rock is seeing some notable trends as we step into 2025. 

Whether you’re considering a move or just love staying informed, here’s what you need to know about the January market activity for detached homes, townhouses, and apartments.

Detached Homes: More Listings, More Choice!

• Sales: 35 homes sold (+2.9% YoY)
• New Listings: 204 new listings (+90.7% YoY)
• Active Listings: 401 homes available (+60.4% YoY)
• Benchmark Price: $1,856,700 (-1.6% YoY)
• Median Price: $1,727,250 (+7.7% YoY)

The detached market is showing strong inventory growth, giving buyers more selection. Prices have slightly softened compared to last year, with the benchmark price down 1.6% and the median price up 7.7%—indicating demand for well-priced homes.

Townhouses: A Competitive Market

• Sales: 33 townhomes sold (-13.2% YoY)
• New Listings: 117 new listings (+42.7% YoY)
• Active Listings: 104 available (+92.3% YoY)
• Benchmark Price: $950,500 (+2.0% YoY)
• Median Price: $999,950 (+5.2% YoY)

With sales slightly down year-over-year, buyers are taking a more selective approach. That said, inventory is up 92.3%, which means more options and opportunities for those looking to make a move. Prices are steadily increasing, showing continued confidence in the townhouse market.

Apartments: A Shift Toward Buyer Favorability

• Sales: 40 apartments sold (-20.0% YoY)
• New Listings: 215 new listings (+106.7% YoY)
• Active Listings: 167 available (-9.4% YoY)
• Benchmark Price: $599,500 (-0.9% YoY)
• Median Price: $582,250 (-3.8% YoY)

Apartments have seen the biggest increase in new listings (+106.7%), which means more choices for buyers. However, sales are down 20%, and prices have slightly softened, creating a window of opportunity for those looking to secure a great deal.

What This Means for You

Buyers: 

More inventory means more negotiating power—especially in the apartment and townhouse segments. Detached homes are still in demand, but there’s more selection than we’ve seen in recent months.

Sellers: 

Well-prepped and strategically priced homes are still selling, especially in the townhouse and detached segments. With more competition in the market, presentation and pricing strategy are key!

Overall Market: 

A balanced and shifting market with opportunities on both sides. Buyers are gaining options, while sellers still see strong pricing when positioned correctly.

Have questions about how this market shift affects your plans? Let’s chat!