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The process of buying or renting a home can be a tedious and stressful one, but it certainly doesn’t have to be that way. If you’re considering moving to Surrey, British Columbia and can’t decide whether to buy or rent a home in the area, don’t worry. We’re here to help.

We’ve put together the ultimate guide to deciding between renting or buying a home in Surrey. We’ll go into everything you need to know, from the cost of living in the area to mortgage rates to reviews of some houses currently on the market in Surrey. First, let’s takes look at the cost of living.

The Cost of Living in Surrey

Top real estate team in N Delta

With a population of nearly 518,000, the average household in Surrey earns $77,494. The cost of living is 11% higher than the national average and Surrey is considered the 12th most expensive city in Greater Vancouver. It’s also the seventh fastest-growing city as well. 

Transportation is considered to be very affordable in Surrey, while healthcare is at the national average in terms of affordability. However, food and housing are significantly more expensive than surrounding areas in British Columbia, which is a common occurrence in this area. 

Mortgage rates

Choosing to rent or buy a home isn’t an easy decision to make, even in the best of times. Answering this question also requires a bit of understanding about the housing market in a particular area, and deciding whether or not the risks outweigh the advantages.

If you are considering buying or renting a house in North Delta, we have you covered. In this in-depth guide, we’ll break down everything you need to know about the cost of living in North Delta, mortgage rates, pros and cons, and a few reviews of homes on the market. Let’s start by breaking down the cost of living in the North Delta.

The Cost of Living in North Delta

Best realtor in Delta Picture Source: indoindians.com

With a population of just over 102,000, the average household in North Delta earns $92,300. The cost of living is 4% higher than the national average and Delta is considered the 9th most expensive city in Greater Vancouver. It’s also the fifth fastest-growing city as well. 

Transportation and healthcare are considered to be very affordable in Delta. However, food and housing are significantly more expensive than surrounding areas in British Columbia. 

Mortgage rates in North Delta vary significantly. We’ll offer an

North Delta Market Statistics

North Delta Housing Market (Neighbourhood Overview)

It’s still a Seller’s Market in North Delta and other parts of the Fraser Valley.  According to the Fraser Valley Real Estate Board (FVREB) property sales have surpassed the last 100-years of the board’s history.  The last six months in particular in terms of property sales have been unprecedented, much like the pandemic itself.  It’s remarkable.  For the most part, each pocket neighbourhood in North Delta has continued to reflect a high sales ratio when accounting for the number of homes offered for sale and the number of homes sold this month.

Annieville, North Delta Real Estate Highlights:  There were 35 homes for sale and a total of 20 homes sold in February 2021 in Annieville, North Delta.  Inventory is not sitting, to say the least, and homes are selling within more or less a week or two in most scenarios.

In February 2021, upon reviewing home sales in Annieville, North Delta, several sold over $150,000 dollars over the asking price!  If that’s not an astounding number I am not sure how much more “wow” you need.  Generally speaking, the median price ($1,243,500) outlined below is somewhat accurate with many typical North Delta Annieville …

Are you in the market to buy a new home or sell your existing home? You’re not alone. Many homeowners have decided to relocate in the past year, and it looks like the trend is going to continue well into 2021. There are quite a lot of people looking for top-tier realtor representation right now.

Taking on the task of finding or selling a home can be a serious burden on homeowners, which is why it is highly recommended to seek out a talented, experienced real estate agent. Local real estate agents have the most valuable experience when it comes to home-buying and selling, as they are more likely to have knowledge on neighbourhood features, pricing, listing inventory, buyer trends, and up-to-date market values.

However, not all real estate agencies are worth their salt. It’s important to have a few key things in mind when searching for a realtor so you don’t end up with less than reliable service.

In this in-depth guide, we’re going to break down everything you need to know about finding a top-tier realtor in North Delta, BC– as well as why Sukh Brar Real Estate Group is the best choice for your homebuying journey.

How

North Delta Housing Market (Neighbourhood Overview)

This data was recorded on February 2nd, 2021 indicates that over 50% of the inventory in each neighbourhood in North Delta sold throughout January 2021.

This month the Nordel neighbourhood took the lead in the number of homes listed for sale and the number of homes sold, in second place was Scottsdale with 18 active listings and 12 sales and Sunshine Hills Woods with 12 active listings and 8 sales to finish the January month off.  As you can see in all the neighbourhood pockets of North Delta; the single-detached housing market is HOT.

Although it may appear to seem less “hot” this month, inventory is still relatively low when reviewing and comparing a 5-year span in the North Delta Real Estate trends.  In January 2021, there was 48 sales and 75 active listings.  The sales-to-active-listings-ratio worked out to be 64%.  This means we are still in a Seller’s Market.  Generally speaking the number of active listings in past “normal” North Delta market conditions you would typically see 100 to 150+ active new listings for the start of the year.

Average House Price in North Delta, BC

On average homes in January …

Sukh Brar Real Estate Group Map of Transactions 2019: 

map of transactions in 2019 Sukh Brar Real Estate Group

As you can see from the map above, we have highlighted (see yellow icons with stars) a number of transactions that we completed in the North Delta neighbourhood in 2019.  In 2019, we completed over 80 transactions (based on the combined transactions of both buying and selling) and on average we held a 97% listing to sales price ratio.  On average our listings only took slightly over a month to sell.

The most important take away from these maps is that it shows how much of our business as a Top-Rated Real Estate Team in the Fraser Valley takes place in North Delta.  North Delta is not only where many of us reside, but a big part of our family upbringing and community ties that all have contributed to over 20 years of expert knowledge of this Real Estate market.

We hold Open Houses weekly, take buyers out to view homes in the local neighbourhoods all year round, and conduct free home evaluations throughout the North Delta communities.  We take pride in our knowledge, insights, and trends within the pocket neighbourhoods (Scottsdale, Annieville, Nordel, and Sunshine Hills Woods) that …

Moving to gorgeous North Delta, British Columbia is a dream come true for those that appreciate the rich history, beautiful scenery, and charming small-town feel. Though before any move, it is natural to want to get acquainted with the area, and of course, there are always pros and cons to every town. This article will explore exactly what makes this town great and delve into the neighborhoods, cost of living, real estate trends, and all the wonderful things North Delta has to offer. Considering a move can be difficult, but information can ease worries and make this time a bit more delightful.

Brief History

The Annieville Cannery during the construction of the GNR right-of-way in 1908. (Image courtesy of the Surrey Archives, 132.01) The Annieville Cannery during the construction of the GNR right-of-way in 1908. (Image courtesy of the Surrey Archives, 132.01)

Founded as Annieville in 1860 by James Kennedy the land was well farmed and the community grew rapidly over the next few decades. By 1879 Annieville had transformed into The Corporation of Delta and the village of Ladner became the administrative center of the community. Delta’s community was fairly far from other villages and towns, so in 1959 George Massey Tunnel was erected to connect Ladner to Vancouver and Richmond. Now widely considered a commuter city, Delta

December 2020 North Delta Real Estate Market Trends

North Delta Housing Market (Neighbourhood Overview)

This data was recorded on January 4th, 2021 and basically shows that everything that was listed ended up being sold within the month it was put out for sale.  The last three months prior had consistently shown a huge uptick in demand and limited supply in the North Delta region.  Definitely a Seller’s Market.

This month Sunshine Hill Woods neighbourhood took the lead in the number of homes listed for sale and the number of homes sold, in second place was Nordel with 15 new listings and 20 sales to finish the December month off.  As you can see in all the neighbourhood pockets of North Delta; the single-detached housing market is HOT.

When comparing data from last December (2019) there was 86 Active Listings and a total of 45 Sales transactions overall in the North Delta region.  That works out to be a 52% sales to active listing ratio.  We had more inventory last year, but still, 1 of 2 homes would be selling if they were listed on MLS.  For the most part of 2019 it was a balanced market but slowly and surely moving into 2020 the market shifted into a …

Selling the home of a parent that can no longer live on their own or has departed can be one of the most challenging times that we have to face. It’s painful to deal with the fact that our parents might not be around forever. As adult offspring, we bear the responsibility of making sure our parents are well taken care of and that their assets are respected after they’re no longer with us. Waiting for your parents to tell you they can no longer take care of themselves typically is a day that does not come. Preparing yourself for the inevitable can help alleviate some of the stress, but not being prepared for this time can make it even more difficult to process mentally and emotionally. Whether you are in the middle of dealing with selling your parent’s home or preparing for when the time comes, educating yourself for what comes next is always a good call.

Selling your parents home and what to know about doing so can be a difficult process. You might be about to experience peak stress levels. It’s going to be hard, but there are a few ways to make it easier. When preparing …

It’s positive news for those looking to sell a property in the North Delta area right now as house prices continue to be on the rise. 

What does the North Delta Real Estate Market look like in 2020? We are going to take a look back over the last few years and compare it to how things are looking in the last quarter of 2020.  

How have things been looking over the last couple of months? 

It’s been an unprecedented year and one we are all still learning to navigate our way around. The Coronavirus pandemic has affected almost every aspect of our lives this year and feels like it has put the world on hold. 

Luckily for us, one thing the pandemic doesn’t seem to be affecting is the housing market! 

North Delta house prices continue to be on the rise and interest is almost outweighing available supply. 

September and October were really strong months for property sellers, with buyers willing to pay upwards of an additional $100,000 on top of the asking price to purchase property in the area. Have you ever heard of that happening before? 

Sellers are finding themselves with multiple offers from different potential buyers, …

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  • Sukh Brar Real Estate Group

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