Scott Williams - MoneySaver Realty - www.surreyhomesales.com
Scott Williams believes now that the political landscape is settled in the US that activity in the Real Estate market here will start to pick up. Scott's personal opinion is that prices will remain relatively steady with minor downward price adjustments for the next couple years as Canada and the US rebuild their economies confidence.
The activity in the Surrey Real Estate market has been all but non existent even though our overall economy is still strong. In the 18 years Scott Williams has been selling Real Estate in the Surrey market he can only remember one other time when it was this slow for any length of time, during the gulf war in 1990 and the 9-11 crisis. Once the war ended things picked up again within a couple weeks. Lets hope that activity will bounce back here like it did in 1990 after next weeks election! Till then, it's almost like we have stepped into the Twilight Zone.
In busy markets approximately 60-90% of listings sell, slow to average markets approximately 40-60% of listings sell. When you consider that our local economy is still pretty good with so many excellent valued homes to choose from, one has to wonder just how long the market can stay this slow. Here are the latest Surrey market numbers to demonstrate just how artificially slow it has been in October:
NORTH SURREY DETACHED:
Current Listings: 734
Sold in last 30 days: 15
Sold to current listing ratio: 2.08%
NORTH SURREY ATTACHED:
Current Listings: 664
Sold in last 30 days: 22
Sold to current listings ratio: 3.3%
SURREY DETACHED:
Current Listings: 1395
Sold in last 30 days: 37
Sold to current listings ratio: 2.6%
SURREY ATTACHED:
Current Listing: 583
Sold in 30 days: 24
Sold to current listings ratio: 4.1%
Written by:
Scott Williams
www.surreyhomesales.com
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