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With most condo prices well below Metro Vancouver’s average and plenty of active listings, Surrey is one of the region’s jewels when it comes to choice. There were 906 available apartments at press time, slightly less than Richmond’s 913 and a ways behind Vancouver which led the pack with 1,534.
If you hanker for a home that is brand new, Surrey has 82 options. Some are ready for move in; others won’t be finished until 2018. The vast majority (33) are in the Whalley neighbourhood where several new towers are popping up including Residences at Three Civic Plaza, Wave, Evolve, University District – Alumni, Maxx at Verve, and Prime on the Plaza. All these homes can lay claim to great locations close to the city’s new downtown core and all its amenities as well as easy access to Skytrain. It will cost you more to own here; the average listing of a brand-new condo in Whalley is close to $405,000 – well over the city’s $249,245 average.
In terms of Surrey’s more recent listings, 68 condos had been on the market for less than nine days at press time. These ranged from a one-bedroom, 21-year-old home in Whalley that is asking $107,900 to a brand-new, two-bedroom unit in the second phase of the Gemini complex along the King George Corridor that is on the market for $433,920.
If your budget is more in line with Surrey’s average asking price of about $250,000, the newest listing you should pounce on is for a one-bedroom unit in Whalley’s two-year-old Ultra-Urban Village development. If you are willing to stretch that field of view to all current $250K listings, there are four choices: a 785-square-foot, five-year-old, two-bedroom home in Clayton; a 23-year-old, 1,103-square-foot two bedroom in East Newton; a slightly smaller 1,100-square-foot, two-bedroom, 20-year-old unit in Whalley; and, also in Whalley, a one-bedroom, 611-square-foot home in a two-year-old building.
A quick look at sales between September 5 and 18 reveals that five condos changed hands in that time. None went for more than the owners were asking. If that is any indication, Surrey sellers are willing to entertain offers. One seller, whose 17-year-old, two-bedroom home in the King George Corridor neighbourhood sold for $248,000, accepted an offer $21,900 less than asking after only seven days on the market. After 20 days on the market, a Guildford condo owner closed at $900 below their asking price of $149,900 for their 29-year-old, two-bedroom home.
Surrey Condo Market Snapshot
