Market analysis on White Rock & Morgan Creek areas between Jan & Feb 2010 & Jan & Feb, 2011
Please click Podcast listen to Cantonese interview
We have been focusing on Richmond & Vancouver West area in the recent months how Mainland Chinese immigrants influence the market in those 2 areas. Today, I would like to share the market condition in the Fraser Valley areas. Fraser Valley incl: N. Delta, Surrey, White Rock (S. Surrey), Langley, Abbotsford & Mission. The most popular areas to the Chinese buyers are White Rock & Morgan Creek.
2010 sales: Jan (24 units) + Feb (31 units)= 55 sales.
listings sold in Feb: 31units
Total 9 sold over 1 million, highest price at $1,686,000
4 units sold by Chinese agent among the million $ listings
2011 sales: Jan (44units) + Feb (66 units) = 111 units
Listings sold in Feb: 66 units
Total 33 units sold over 1m, highest at $2,850,000
21 listings sold by Chinese agent among the million $ listings.
I was showing many properties in those 2 areas with my non Chinese buyer n many listing agents said I was the only non Chinese group buyer. There was a Morgan Creek listing sold back in Oct for $1,387,000 n now back on the market at $1,598,000. Had offer at 1.5m with 8% increase in the last 5 months but seller wouldn't sell at that price.
Should you wish to know the market condition on regular basis, contact me at 604-412-5860 or email me at tinamak@tinamak.com
