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North Delta Real Estate Market Update (January 2022)

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North Delta Market Snapshot

North Delta January 2022 Real Estate Neighbourhood Highlights

North Delta Housing Market (Neighborhood Overview)

The Fraser Valley saw the beginnings of the market rebalancing in January. Although it was still a seller’s market in January 2022 according to the Fraser Valley Real Estate Board the market cooled compared to December 2021. The trend towards rebalancing is predicted by an increase of 67.1% in new listings from December 2021. In North Delta, there was an inventory of 50 detached homes and 19 attached homes. 

Anneville, North Delta Real Estate Highlights: There were 15 detached homes on the market and a total of 10 sold. In January 2022 there were 4 attached homes on the market and all 4 sold. Single-family homes in Annieville all sold for an average of $1,875,200, which is 10% more than the average list price. 

Nordel, North Delta Real Estate Highlights: In January 2022, 5 detached homes sold for an average selling price of $1,650,450. Homes in Nordel, North Delta were on the market for an average of 6 days (2 days less than December 2021) and they all sold for $1,300,000 or more. 

Scottsdale, North Delta Real Estate Highlights: 5 single-family homes sold in Scottsdale in December 2021 with one home selling 1 day after being listed! Detached homes in Scottsdale had an average sold price of $2,087,000 which is $157,843 more than the average listing price. The market in Scottsdale, North Delta is hot!

Sunshine Hills Woods, North Delta Real Estate Highlights: There were 10 detached homes on the market and all 10 sold in January 2022! In the Sunshine Hills Woods neighbourhood of North Delta, homes had an average sold price of $2,092,166 which is 13% higher than the average list price for January. 

3 month home median prices in North Delta

Average House Price North Delta, BC

Homes in North Delta sold in an average of 7 days after being listed on MLS in January 2022. The median price for homes in December was $1,586,500 and in January it was $1,730,000, which is an increase of 9%!

***The median price is acquired by taking the middle sales price from the list of properties ranked highest to lowest that sold in North Delta in January 2022.  For example, if 67 homes were sold in North Delta when combining all the pocket neighbourhoods (Annieville, Nordel, Scottsdale and Sunshine Hills Woods), the sale price of the 34th home would be the median sales price.*** 

Median vs. Benchmark vs. Average

Median Price in North Delta for Single Detached Homes in January 2022: $1,730,000

Median Price in North Delta for Single Detached Homes in January 2021: $1,176,960

Percentage of change: 50.4%

[Median = the sale price of the property that sits in the middle of a compiled list of properties sold in a set period of time ranging from the highest sales price to the lowest sales price]

Benchmark Price in North Delta for Single Detached Homes in January 2022: $1,457,900

Benchmark Price in North Delta for Single Detached Homes in January 2021: $1,010,900

Percentage of change: 44.2%

[Benchmark = basically a sales price estimate of a “typical” home within a region; that of which is determined by a combination of popular features according to MLS®]

Average Price in North Delta for Single Detached Homes in January 2022: $1,780,312

Average Price in North Delta for Single Detached Homes  in January 2021: $1,176,960

Percentage of change: 51.3%

[Average = adding together all the home sales prices within that month and dividing it by the total number of home sold]


So, how much are homes selling in North Delta, BC?  

Each of the above price calculations has its limitations in terms of gaining insight about pricing a home. These numbers are best used as ballpark figures to gain a general understanding of the North Delta Real Estate market. The average home price in North Delta, in January 2022 was $1,780,312  but there are many factors that come into play. For example, the type of home sold and home features. Only a realtor with experience in the area can best determine how much the property is worth. The best way to determine the home’s value is to find homes that have sold in your area with similar features to the one being priced.

The best method to determine your home value is to find out what homes have recently sold in your neighbourhood that are similar to your home’s unique features (as mentioned above).  This is called a Home Evaluation or a Comparative Market Analysis (CMA).  As always, as your Top North Delta Real Estate Team, we can provide you with a FREE Home Evaluation and provide you with insight on recent homes sales that are similar to your home features and tips on how to increase the value of your property before putting it on MLS.

Last but not least, let’s take a quick look at the Supply and Demand in North Delta and how we determine if it’s a Sellers, Buyers or Balanced Market.  Demand is basically what sold in that month and supply is how many active listings there was that particular month.  This can help us determine where the market is currently sitting and possibly determine a trend in the North Delta Real Estate Market.

As you can see below, the last row shows October 2021’s demand and supply.  The inventory for homes in October reduced as compared to September, not because there are fewer listing homes but everything that is listed is going fast. The demand is still on the rise, making it yet another month of Seller’s Market. As we mentioned earlier we came to calculate a sales-to-active-listing ratio of 81% (that is from 50 sales over 62 active listings).

Year to date home supply vs demand North Delta Market

Explanation of Market types based on the Sales to Active Ratio

North Delta Real Estate Trends

It was the seller’s advantage in 2021 due to the high demand created from low-interest rates and people’s desire for a more spacious home. The Bank of Canada’s to keep lower interest rates allowed has allowed many to purchase a home, however, the Bank of Canada has announced that they plan to increase interest rates sometime this year. Although it was still a seller’s market in January 2022 there was an increase in demand, if this trend continues the market could move towards a more balanced market.

This month’s Final Thoughts:  

According to the FVREB, there was an increase in new listings by 67.1% in January 2022 from December 2021. If this trend continues with new listings increasing each month this could ease the demand and supply dynamics in the Fraser Valley region. The market may move towards a more balance later in the year but it was still a seller’s market in North Delta, BC in January 2022.

If you are interested in learning more about the Fraser Valley’s real estate market, read the FVREB’s stats here: http://www.fvreb.bc.ca/stats/ 

Read about the December 2021 North Delta Real Estate here: North Delta Real Estate Market Update (December 2021)

If you’re thinking of selling, this could be a great opportunity for an opportunist. If you’re wondering what your home is worth and how to place your home on the market to get top dollars, call us today at 604-648-7800!

As an awarding-winning team (Top 1% in all the Fraser Valley Real Estate Board Teams) and with your Top North Delta Realtor Sukh Brar leading the way, you will have a combined asset of over 20 years of local expert knowledge and guidance to best navigate this very hot and lucrative market.

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  • Sukh Brar Real Estate Group

    Sukh Brar Real Estate Group
    (604) 648-7800
    sales@sukhbrar.ca
    Top 1% Realtor according to the FVREB 2014-2019