Jon Pereira : Blog : Latest Blog Posts

JUNE 2026 MARKET UPDATE

Mon, 20 Jul 2026 21:40:05 GMT

Affordability Improves, But Buyers Remain Cautious

The Fraser Valley housing market continued to favour buyers throughout June, with benchmark prices now sitting 26 per cent below their 2022 peak. Despite this improving affordability, many buyers remain on the sidelines, extending the window of opportunity for those who are financially prepared to make a move.

The Fraser Valley saw 1,147 sales in June, up 2.0% from May but down 4.0% compared to June 2025. Active inventory climbed to 10,377 homes, keeping buyers well-supplied with choice as the market heads into summer.

Continuing the softer pricing trend we've seen through much of 2026, benchmark prices across all property types declined 0.9% month-over-month to $884,800, a decrease of 7.1% compared to June 2025.

With a sales-to-active listings ratio of 11 per cent in June, the Fraser Valley remains in buyer's market territory. A balanced market is typically defined by a ratio between 12 and 20 per cent.

Average days on Market in June (Across the Fraser Valley):

Detached: 37

Townhomes: 33

Condos: 38

A Closer Look at Surrey

Surrey's market continues to provide buyers with significant negotiating power.

In June, detached home sales declined 2.5% year-over-year, while townhome sales rose 4.2%. Condo sales declined 6.6% compared to June 2025.

Benchmark prices in Surrey were:

Detached Homes: $1,431,700 (-8.7% year-over-year)

Townhomes: $781,500 (-8.2% year-over-year)

Condos: $460,400 (-9.9% year-over-year)

Looking deeper into Surrey's submarkets:

Surrey Central detached benchmark price: $1,336,800 (-9.7% year-over-year)

Cloverdale detached benchmark price: $1,354,500 (-6.5% year-over-year)

North Surrey detached benchmark price: $1,278,300 (-11.9% year-over-year)

Inventory remains elevated throughout Surrey, providing buyers with more options and reducing the urgency that characterized the market just a few years ago.

May 2026 Market Update

Sun, 14 Jun 2026 08:25:41 GMT

A Market Creating Opportunity

The Fraser Valley housing market remained firmly in buyers' market territory throughout May, creating opportunities for those looking to make a move. While economic uncertainty continues to keep many buyers on the sidelines, those who are financially prepared are benefiting from increased selection and softer pricing.

The Fraser Valley saw 1,124 sales in May, virtually unchanged from April and down 5.0% compared to May 2025. At the same time, active inventory climbed to 10,140 homes, giving buyers considerably more choice than we've seen in recent years.

After two months of gain, benchmark prices across all property types declined 0.7% month-over-month to $893,300, marking a continuation of the softer pricing environment we've experienced throughout much of 2026.

With a sales-to-active listings ratio of 11 per cent in May, the Fraser Valley remains in buyer’s market territory. A balanced market is typically defined by a ratio between 12 and 20 per cent.

Average days on Market in May (Across the Fraser Valley):

Detached: 35

Townhomes: 37

Condos: 40

A Closer Look at Surrey

Surrey's market continues to provide buyers with significant negotiating power.

In May, detached home sales increased slightly by 1.1% year-over-year, while townhome sales rose 8.1%. Condo sales, however, declined by 30.6% compared to May 2025.

Benchmark prices in Surrey were:

Detached Homes: $1,448,300 (-9.4% year-over-year)

Townhomes: $786,600 (-8.5% year-over-year)

Condos: $467,500 (-9.6% year-over-year)

Looking deeper into Surrey's submarkets:

Surrey Central detached benchmark price: $1,356,500 (-9.9% year-over-year)

Cloverdale detached benchmark price: $1,378,100 (-8.3% year-over-year)

North Surrey detached benchmark price: $1,270,000 (-12.7% year-over-year)

Inventory remains elevated throughout Surrey, providing buyers with more options and reducing the urgency that characterized the market just a few years ago.

April 2026 Market Update

Sat, 09 May 2026 19:20:10 GMT

Continued Signs of Market Stabilization

As we move further into the spring market, the Fraser Valley housing market is continuing to show early signs of stabilization, with sales activity improving and benchmark prices increasing for a second consecutive month.

Though sales activity is increasing, the Fraser Valley still remains firmly in a buyer's market, with an overall sales-to-active listings ratio of 11 per cent in April. A balanced market is typically defined by a ratio between 12 and 20 per cent.

A total of 1118 homes sold in April, an increase of 11% from March, and 7% above the same month last year.

Across the Fraser Valley

Across the Fraser Valley there were 1118 homes sold in April, an increase from both the previous month, and the same month last year.

Sellers continued to enter the spring market, with new listings rising 6% from March to 3,549 - still above seasonal norms, but lower than this time last year.

Average Days on Market in April:

• Detached Homes: 37 days
• Townhomes: 32 days
• Condos: 42 days

A Closer Look at Surrey

Surrey’s housing market continued to show mixed trends in April, with sales activity improving across most property types while benchmark prices remained relatively stable month-over-month.

Detached home sales increased 21.7% from March and 22.5% compared to April of last year, with the benchmark price sitting at $1,461,000 - down 0.2% month-over-month and 9.8% year-over-year.

Townhomes continued to show relative stability, with benchmark prices increasing 0.2% from March to $794,500. Sales activity also improved, rising 13.1% month-over-month and 2.6% year-over-year.

The condo market remained softer compared to other property types. Benchmark prices declined 0.6% month-over-month to $474,100 and were down 9.1% year-over-year. However, condo sales still increased 5.0% from March, despite remaining 31.0% below April 2025 levels.

March 2026 Market Update

Tue, 14 Apr 2026 23:33:24 GMT

After nearly a year of gradual price declines, the Fraser Valley market is starting to show early signs of stabilizing, with benchmark prices increasing slightly month-over-month for the first time in 11 months.

While sales activity improved in March compared to February, overall demand remains relatively subdued, with year-to-date sales still trailing behind last year — a clear sign that many buyers are continuing to take a cautious approach.

A total of 1,007 homes sold in March, representing a 20% increase from the previous month. However, this is still slightly below last year’s levels and well below the long-term seasonal average.

New listings also rose by 20% to 3,341, indicating that more sellers are entering the market ahead of the spring season, even as overall sales activity remains softer than usual.

Across the Fraser Valley

According to the Fraser Valley Real Estate Board, there were 1,007 sales in March, up 20% from February, but still slightly below last year and well below the 10-year seasonal average.

New listings increased to 3,341, also up 20% month-over-month, while active inventory rose to 9,201 homes, sitting roughly 50% above the long-term average.

The sales-to-active listings ratio came in at 11%, which keeps us firmly in a buyer’s market (a balanced market typically falls between 12%–20%).

Average Days on Market in March:
• Detached homes: 39 days
• Townhomes: 36 days
• Condos: 43 days

A Closer Look at Surrey

Detached benchmark prices increased slightly by 0.2% month-over-month to $1,463,500, but remain down 10.2% compared to last year, with sales rising 27.7% from February and up 12.6% year-over-year.

Townhome benchmark prices saw a modest 0.4% month-over-month increase to $792,700, while still down 8.0% year-over-year. Sales activity picked up as well, up 20.2% month-over-month, though still down 13.8% compared to last year.

Apartment benchmark prices declined 0.4% month-over-month to $477,100, and are down 9.3% year-over-year. Despite this, sales increased 19.8% from the previous month, though remain 20.4% below last year’s levels.

While prices are still lower compared to last year, the increase in sales across all property types suggests that buyers are beginning to step back into the market - particularly as inventory remains high and pricing becomes more attractive.

February 2026 Market Update

Mon, 09 Mar 2026 19:11:01 GMT

An Early Spring Lift

February brought a noticeable increase in sales activity across the Fraser Valley compared to January, signaling an early hint of the spring market. That said, overall market conditions remain firmly in buyers’ territory, with inventory levels staying elevated and benchmark prices continuing to trend slightly downward.

For well-prepared buyers, this continues to present opportunity. For sellers, pricing strategy and presentation remain critical.

Across the Fraser Valley

The Fraser Valley Real Estate Board recorded 843 MLS® sales in February, a 36% increase from January, but still below typical seasonal levels.

New listings declined to 2,796, down 9% from January, while total active inventory rose to 8,344 homes - up 8% month-over-month and sitting 51% above the 10-year seasonal average

With a sales-to-active listings ratio of 10%, the Fraser Valley remains in a buyer’s market (a balanced market is typically between 12%–20%)

The composite benchmark price for the Fraser Valley dipped 0.2% month-over-month to $895,100, reflecting continued softening across most property types

Average days on market in February:
• Detached homes: 47 days
• Townhomes: 39 days
• Condos: 45 days

A Closer Look at Surrey

Detached benchmark prices declined 0.5% month-over-month to $1,461,300, down 9.7% year-over-year

Townhome benchmark prices edged up slightly month-over-month to $789,800, but remain down 7.6% year-over-year

Apartment benchmark prices decreased 0.4% month-over-month to $479,100, down 8.9% year-over-year

While pricing has softened compared to last year, February’s jump in sales suggests that buyers are beginning to re-engage — particularly in well-priced townhomes and entry-level detached homes across Surrey.

January 2026 Market Update

Tue, 03 Feb 2026 18:52:43 GMT

A Cautious Start to 2026 - with Growing Leverage for Buyers

January opened with limited momentum across the Fraser Valley. Home prices continued to soften while inventory remained elevated, keeping market conditions firmly tilted toward buyers. Despite what would normally be considered favourable buying conditions, ongoing economic uncertainty and affordability pressures are continuing to temper buyer confidence.

Across the Fraser Valley

The Fraser Valley Real Estate Board recorded 619 MLS® sales in January, a 33% decrease from December and 24% lower than January 2025, reflecting a quieter-than-usual start to the year.

New listings rose sharply to 3,078, following typical seasonal patterns, while overall inventory climbed to 7,711 active listings - 54% above the 10-year seasonal average.

With a sales-to-active listings ratio of just 8%, the Fraser Valley remains firmly in buyer’s market territory (a balanced market is typically between 12%–20%).

Benchmark prices continued their gradual decline, with the composite Fraser Valley benchmark price at $897,200, down 1.0% month-over-month and 6.9% year-over-year - the first time below $900,000 since spring 2021.

A Closer Look at Surrey

Detached benchmark prices in Surrey declined 1.1% month-over-month, sitting at $1,468,500, down 8.3% year-over-year

Townhome benchmark prices decreased 1.2% month-over-month to $789,300, down 7.2% year-over-year

Apartment benchmark prices dipped 0.2% month-over-month to $480,800, down 8.4% year-over-year

Sales activity in Surrey slowed across all property types, but well-priced homes continue to sell - particularly in townhomes and entry-level apartments where buyers are most active.

December 2025 Surrey Market Update

Tue, 06 Jan 2026 19:35:01 GMT

A Year Ending with Balance - and Opportunity

December marked a notable shift in market dynamics. While 2025 overall was one of the slowest sales years in over two decades, December closed with conditions stabilizing across the Fraser Valley. Seasonal slowdowns in new listings helped bring the market back into balanced territory, creating a more level playing field for both buyers and sellers.

Across the Fraser Valley

The Fraser Valley Real Estate Board processed 919 MLS® sales in December, down 2.5% from November and 7.5% lower than December 2024, reflecting the typical year-end slowdown .

New listings dropped sharply - down 39% month-over-month - allowing overall inventory to tighten to 6,965 active listings. This shift lifted the sales-to-active listings ratio to 13%, placing the region firmly back into balanced market territory to close out the year.

Benchmark prices across the Fraser Valley continued their gradual adjustment, with the composite benchmark price down 0.7% month-over-month and 6.0% year-over-year, reflecting ongoing affordability pressures and cautious buyer sentiment.

A Closer Look at Surrey

Surrey remained the largest and most active market in the Fraser Valley, accounting for nearly half of all 2025 sales across the region .

In December specifically:

Detached benchmark prices in Surrey eased 1.2% month-over-month, sitting at $1,484,100, down 7.2% year-over-year.

Townhomes in Surrey showed relative resilience, with the benchmark price up 0.7% month-over-month.

Apartment benchmark prices declined 0.6% month-over-month, reflecting continued affordability sensitivity among entry-level buyers.

Despite softer prices, Surrey saw steady sales activity, particularly in townhomes and apartments, as buyers took advantage of improved selection and negotiating power.

Jon’s Take

“December quietly did something important - it rebalanced the market. With inventory pulling back and the sales-to-active listings ratio moving back into healthy territory, Surrey is entering 2026 on much more stable footing than many headlines suggest.

What stands out to me is where activity is holding: townhomes and well-priced detached homes continue to move, especially when they’re positioned correctly. For buyers, winter still offers leverage. For sellers, the market is far more sensitive to pricing and presentation - but the right strategy absolutely gets results.”

— Jon Pereira | RE/MAX

November 2025 Surrey Market Update

Tue, 02 Dec 2025 21:37:06 GMT

November reflected what we typically see at this point in the year: buyer activity easing, new listings slowing, and inventory remaining elevated across the Fraser Valley. Prices gently adjusted month-over-month, but negotiation power remains firmly in the hands of buyers.

Across The Fraser Valley

Despite easing Benchmark prices and higher-than-normal inventory levels, buyer activity slowed across the Fraser Valley in November, aligning with typical seasonal patterns.

The Fraser Valley Real Estate Board processed 943 MLS® sales in November, representing a 16% decline from October and a 17% decrease compared to November of last year.

While total inventory dipped 9% from October, the region continues to offer buyers significantly more choice than usual, ending the month with 9,201 active listings - 47% above the 10-year seasonal average, which historically sits far lower at this time of year.

The Fraser Valley continues to sit in a buyer’s market, closing November with a 10% sales-to-active listings ratio - slightly lower than October, and below the 12–20% range that typically signals balanced market conditions.

Jon's Take

"A small but significant detail worth highlighting this month: unlike the broader seasonal softening across the Fraser Valley Real Estate Board region, Benchmark prices for detached homes in Surrey climbed 0.4% in November. That tells a story.

This late-year uptick could mean detached demand in Surrey has found early footing, indicating continued price resilience as we open 2026. Moving forward, we may see inventory gradually absorb through winter as serious buyers and upsizers position themselves ahead of the January-to-spring momentum."

- Jon Pereira | RE/MAX

Thanks for reading and engaging with this year’s updates - your trust and attention mean everything.

If you're planning a move in 2026, the winter market can be a smart advantage for buyers and sellers in Surrey. As always, I’m here to guide you through it - I’m only a call away.

Wishing you a warm holiday season, a joyful Christmas, and a strong start to 2026.

October 2025 Surrey Market Update

Tue, 04 Nov 2025 19:54:45 GMT

October brought a welcome uptick in activity across the Fraser Valley, with Surrey continuing to show signs of cautious stabilization after months of adjustment. While sales remain below seasonal norms, more realistic pricing and easing competition are starting to pull some buyers back into the market.

Market Snapshot: Surrey at a Glance

Across all property types in Surrey:

Sales: 495 total (178 detached, 177 townhomes, 140 condos) — up 14–30% from September, though still down 20–35% from last year.
Benchmark Prices (Month-over-Month):
- Detached: $1,512,800 (▼ 0.6%)
- Townhomes: $804,200 (▼ 1.4%)
- Condos: $494,900 (▼ 0.6%)
Year-over-Year: Prices are 5–7% below October 2024 across all categories.

Surrey’s detached homes now sit about $100,000 lower than a year ago, but the rate of decline has noticeably slowed. The sales-to-active listings ratio across the Fraser Valley climbed to 11%, indicating we remain in a buyer’s market, though edging closer toward balance.

Detached Homes: Buyers Regaining Leverage

Detached home sales in Surrey rose 15% compared to September, yet remain 24% below last year.

Benchmark Price: $1,512,800
Average Sale Price: $1,630,220
Key Trend: Sellers who’ve adjusted to today’s more competitive environment are seeing results — average days on market remain steady around 42 days.

Neighbourhood performance varies:

Cloverdale homes saw a small monthly dip (▼ 0.3%),
North Surrey held flat (+0.3%)
Central Surrey slipped slightly (▼ 0.5%).

These micro-trends suggest that buyers are still value-focused, gravitating toward well-priced, move-in ready homes.

Townhomes: Price Adjustments Creating Opportunity

Townhomes continue to attract steady buyer attention, with sales up 30% month-over-month in Surrey.

Benchmark Price: $804,200 (▼ 1.4% from Sept, ▼ 6.7% year-over-year)
Average Price: $814,899

Many townhomes are now priced below the psychological $800K threshold, creating opportunities for both upsizers and first-time buyers looking for affordability without sacrificing space.

Condos: Holding Steady After Earlier Softness

Condo activity picked up 13.8% compared to September, a sign of renewed entry-level demand.

Benchmark Price: $494,900 (▼ 0.6% MoM, ▼ 6.0% YoY)
Average Price: $498,348

While prices remain down roughly 12–13% from last fall, buyer interest is rising in North Surrey and Central City, particularly around transit-oriented projects and SkyTrain expansions.

Jon’s Take

“October’s data reinforces what we’ve been feeling on the ground - Motivated sellers are meeting motivated buyers where the market is today. The slowdown in new listings and easing prices are slowly restoring balance, especially in the detached and townhouse segments.

Heading into winter, this could be the window where strategic sellers stand out, particularly those pricing within the current buyer bandwidth rather than yesterday’s peak values.”

September 2025 Market Update

Thu, 02 Oct 2025 19:48:28 GMT

The Fraser Valley market continued to show signs of adjustment this September as elevated inventory levels applied downward pressure on prices, while at the same time sparking a modest bump in buyer activity.

Prices Continue to Ease

For the sixth month in a row, home prices declined across the region. The benchmark price for a typical Fraser Valley home dipped 1% month-over-month to $926,300, now 5.4% lower than this time last year.

Detached homes: $1,420,000 (↓1.2% from August, ↓5.4% year-over-year)
Townhomes: $795,600 (↓1.5% from August, ↓4.7% year-over-year)
Condos/Apartments: $510,400 (↓0.7% from August, ↓6.3% year-over-year)

Sales Show a Modest Uptick

Sales activity picked up slightly, with 962 homes changing hands in September, up 3% from August. Still, sales remain subdued overall—2% lower than last year and 28% below the 10-year average.

Some buyers are beginning to re-enter the market, encouraged by the ongoing price softening and improved selection.

Inventory Remains Elevated

Supply continues to climb, giving buyers more choice and leverage.

3,447 new listings came to market in September, a 23% increase over August.
Active listings reached 10,583, up 17% compared to September 2024—marking decade-high levels of inventory.

The overall sales-to-active listings ratio is at 9%, keeping the Fraser Valley firmly in buyer’s market territory. (For context, a balanced market is typically between 12% and 20%.)

Market Conditions by Property Type

Detached homes averaged 37 days on market.
Townhomes averaged 38 days.
Condos averaged 39 days.

This shows properties are still moving but at a more deliberate pace compared to the peak market cycles.

What This Means Going Into Fall

The combination of high inventory and easing prices is creating opportunities for buyers who have been waiting on the sidelines. Sellers, on the other hand, are facing more competition and need to position their homes carefully to stand out.

As the Fraser Valley Real Estate Board notes, “As prices continue to weaken, the market is showing hopeful signs of renewed confidence.” With interest rates still weighing on affordability, motivated buyers are beginning to step back in, making this an interesting moment for both sides of the market.

June 2025 Surrey Real Estate Market Update

Sat, 05 Jul 2025 21:11:10 GMT

Market Overview

The Fraser Valley real estate market continued to evolve in June, shaped by economic uncertainty, increasing inventory, and shifting buyer sentiment. While total sales across the region remained mostly flat, inventory reached its highest levels in over five years, providing buyers with greater choice and leverage.

In Surrey specifically, we remain in a buyer’s market, with home values continuing to soften across all property types. The Sales-to-Active Listings Ratio for the Fraser Valley held at 11 percent, well below the 12 to 20 percent range that defines a balanced market.

Surrey Housing Market – Key Figures

Property Type	Benchmark Price	1-Month Change	1-Year Change
Detached	$1,573,300	-2.0%	-5.4%
Townhouse	$852,100	-1.0%	-3.6%
Apartment	$513,800	-1.2%	-5.8%

Apartments have seen the sharpest annual decline, falling 5.8 percent since June of last year, followed by detached homes at 5.4 percent, and townhomes at 3.6 percent.

Submarket Breakdown – Surrey Neighbourhoods

Central Surrey

Detached Benchmark: $1,480,200 (-1.8% from May)
Townhouse Benchmark: $824,200 (-0.3%)
Apartment Benchmark: $547,800 (-1.1%)
Detached sales declined 18.7 percent year-over-year. Active detached listings increased 26.9 percent from June 2024.

Cloverdale

Detached Benchmark: $1,462,500 (-3.6% from May)
Townhouse Benchmark: $841,500 (-0.6%)
Apartment Benchmark: $575,000 (-1.8%)
Detached sales dropped 34.7 percent compared to June 2024.

North Surrey

Detached Benchmark: $1,447,600 (-0.2% from May)
Townhouse Benchmark: $762,300 (-0.6%)
Apartment Benchmark: $463,400 (-1.6%)
Detached sales increased 44.1 percent from May, one of the few bright spots in an otherwise subdued market.

Fraser Valley Regional Snapshot

Detached Benchmark (FVREB): $1,458,600 (-1.6% from May)
Townhouse Benchmark (FVREB): $824,400 (-1.0%)
Apartment Benchmark (FVREB): $526,500 (-1.2%)
Average days on market:
- Detached: 35 days
- Townhouse: 30 days
- Apartment: 39 days

Active listings reached 10,842, a 30% increase over this time last year. Total sales across all property types rose one percent month-over-month but remain nine percent below June 2024 and 33 percent under the 10-year average.

What This Means for Buyers and Sellers

For Buyers
This market presents rare opportunities. With increased supply and reduced prices, buyers have more room to negotiate. Detached home prices in Surrey are down over five percent compared to last year, and townhouse and condo values have followed suit. Serious, well-prepared buyers can secure favourable terms and properties that may have been out of reach 18 months ago.

For Sellers
Homes are still selling, but the days of aspirational pricing are behind us. Buyers are cautious and value-driven. Properties that are well-priced, professionally marketed, and properly presented are still moving, while overpriced listings risk sitting on the market. Strategic pricing and strong marketing execution are essential in this environment.

Final Thoughts

Market conditions continue to favour buyers, with price softness and growing inventory creating opportunities for those in a position to act. Sellers can succeed with an accurate market-read and a strategic plan. The key for both groups is understanding the hyperlocal nuances of Surrey’s submarkets and timing moves accordingly.

If you’re considering a purchase, sale, or would like an updated evaluation of your property in today’s market, I’d be happy to help. I provide straightforward, professional advice based on data and experience, backed by a lifetime of working and living here in Surrey.

Fraser Heights Market Snapshot — May 2025

Tue, 24 Jun 2025 17:43:42 GMT

Here’s a quick look at what’s happening in the Fraser Heights detached home market:

Active Listings: 100
Median Days on Market: 27
Average Price Per Sq. Ft.: $544
Total Sales: 23 (up 155.5% from 9 sales in April)
Average Sale Price: $1,724,478
Homes Sold for: 97.3% of list price on average

The market picked up sharply in May, with more than double the number of sales compared to April. Prices are holding steady, and homes are moving in under a month on average.

Curious what your home might be worth in this market?
Reach out any time for a free, no-obligation evaluation.

Jon Pereira
RE/MAX Performance Realty
📞 778-345-8897
📧 jon@jonpereirarealty.com
🌐 www.jonpereirarealty.com

Neighbourhood Spotlight: Fleetwood Real Estate + Future Growth Update (June 2025)

Mon, 23 Jun 2025 19:06:58 GMT

Fleetwood is one of the most interesting markets to watch in Surrey right now. Between strong sale prices, steady buyer demand, and the rapid growth plans unfolding around the Surrey-Langley SkyTrain extension, there’s a lot happening in this neighbourhood.

If you’re a homeowner here, considering a move, or looking to invest in Surrey real estate, here’s what you need to know about Fleetwood this month.

Fleetwood Real Estate Snapshot — May 2025

Let’s start with the numbers. Here’s how the Fleetwood market performed in May:

190 active listings
63 new listings last month
18 homes sold
Average sale price: $1,655,086
Average price per square foot: $505
Homes sold for 97.9% of list price on average

Detached homes and newer townhomes, especially those close to future SkyTrain stations, are leading the market in terms of demand and pricing.

What’s Happening with the Fleetwood Community Plan:

Beyond the market numbers, there’s a lot happening with city planning in Fleetwood that’s going to shape this neighbourhood for years to come.

Right now, Fleetwood’s Official Community Plan is in Step 4 of 5, meaning the city is finalizing details on how the area will grow as the SkyTrain arrives.

A few important updates:

Urban Residential areas can now allow up to 55 units per hectare. That means more townhomes and low-rise condos will be built in areas that were previously single-family only.
New Transit-Oriented Areas (TOAs) have been created around each SkyTrain station. These will allow for higher-density condos, mixed-use buildings, and more housing options for families.
Six new school sites have been added to the plan, and the city is focusing on expanding and upgrading existing parks instead of trying to acquire new land.
Expect more protected bike lanes, pedestrian-friendly streets, and improved roads as multi-family projects gradually replace older homes near SkyTrain hubs.

What this means: More housing variety and options coming soon, strong investment potential near SkyTrain expansion zones, better parks, schools, and recreational facilities for local families.

Why This Matters If You Own or Plan to Buy in Fleetwood

This is a smart time to assess your real estate strategy in Fleetwood. Whether you’re looking to buy, thinking about selling, or curious how these changes might affect your property’s value or redevelopment potential — having the right information now is key.

If you’d like a current value estimate for your home, want to know where the best buys are right now, or are simply curious about what’s happening near your property, I’d be happy to connect.

Feel free to reach out at 778-345-8897 or email jon@jonpereirarealty.com.

What is a Property Disclosure Statement?

Tue, 17 Jun 2025 16:54:47 GMT

When buying or selling a home, transparency matters - and one of the most important documents in a real estate transaction here in BC is the Property Disclosure Statement (PDS).

It’s a form meant to protect both the buyer and the seller by making sure important information about a property’s condition is clearly communicated before a deal is finalized.

The Property Disclosure Statement was introduced by the BC Real Estate Association (BCREA) in 1991. Its goal? To give buyers peace of mind by having sellers disclose - truthfully and completely - any known issues or defects with a property.

At the same time, it protects sellers by confirming that all relevant information has been shared with prospective buyers.

What Does a PDS Cover?

The Residential PDS goes beyond the legal minimum disclosure requirements and asks about specific potential issues such as:

Buried oil tanks, Asbestos insulation, Unauthorized rental suites, Renovations done without permits, Moisture or water problems, Unregistered easements or encroachments, Past use as a grow-op or drug lab.

There are different versions of the form depending on the type of property:
Residential, Condominium, and Rural — each tailored to ask relevant questions.

How Does It Work?

The seller completes the PDS when they list the property with their REALTOR®.

The seller must update the statement if any new information arises before closing.

Prospective buyers typically review the PDS and may make their offer subject to receiving and approving it within a certain timeframe.

Once satisfied, the buyer signs the PDS as well.

A Few Things Buyers Should Know:

If a seller is unwilling to provide a PDS, or if a line has been drawn through the questions, it should raise a red flag.
In some cases - like estate sales, bank foreclosures, or absentee landlord properties - sellers may genuinely not know enough about the property to complete one.

Important: Even with a completed PDS, buyers are strongly encouraged to get an independent home inspection. The PDS reflects only what the seller knows at the time of disclosure - it’s not a warranty or guarantee about the home’s condition.

Use it as a Starting Point, Not the Final Word.

The Property Disclosure Statement is a helpful tool for understanding a property’s history and condition, but it’s just one piece of the puzzle.

Buyers are still expected to do their own due diligence, conduct inspections, and ask questions. As the saying goes - “buyer beware” is still very much a part of real estate.

If you’d like to see what a blank PDS looks like or have questions about how it works in your buying or selling process, feel free to reach out anytime. I’m always happy to help.

Jon Pereira
📱 778-345-8897
📧 jon@jonpereirarealty.com
🌐 www.jonpereirarealty.com

Pre-Approval vs. Pre-Qualification: What’s the Difference, and Why It Matters

Mon, 09 Jun 2025 19:29:07 GMT

If you’re thinking about buying a home, or know someone who is - you’ve probably heard the terms pre-qualification and pre-approval tossed around. While they might sound similar, they’re not the same thing. And knowing the difference can save you time, stress, and even help you win in a competitive market.

Pre-Qualification:

Think of this as a casual conversation with your lender. Based on the information you provide about your income, debts, and assets, the lender gives you an estimate of how much you might be able to borrow. It’s a helpful first step to get a rough idea of your price range, but it’s not verified or guaranteed.

Getting Pre-Qualified is good for the early stages of house hunting, and getting a general idea of your budget

There are limitations with getting a pre-qualification: A pre-qualification is not based on verified financial information and won’t carry much weight with sellers.

Pre-Approval

A Pre-Approval is the real deal. A lender will formally review your income, credit history, employment, and other financial documents to determine exactly how much they’re willing to lend you. You’ll get a pre-approval letter stating the amount, which you can confidently use when making an offer.

A Pre-Approval is good for knowing your firm budget, showing sellers you’re serious, and standing out in competitive offers

A pre-approval Involves a deeper credit and financial check and are typically valid for 60–90 days

Why This Matters

In today’s market, especially here in Surrey and the Lower Mainland, serious buyers are coming armed with pre-approvals. Sellers and listing agents want to see that you’re ready to go. If you fall in love with a home and don’t have your pre-approval ready, you risk missing out.

If you’re unsure where to start or need a recommendation for a great mortgage broker, I’d be happy to connect you with someone I trust.

Questions about the process or the market? I’m always just a call or text away.

Jon Pereira

778-345-8897
jon@jonpereirarealty.com

www.jonpereirarealty.com

May Market Update

Tue, 03 Jun 2025 20:07:54 GMT

May is now behind us, and I’ve got your latest update on the Fraser Valley housing market.

After a quieter April, May brought a modest but welcome lift in home sales across the Fraser Valley. An early sign that buyer confidence may be slowly returning to the market.

The Board recorded 1,183 sales in May, up 13% from April, though still 22% below May 2024 and 36% below the 10-year seasonal average.

Inventory continues to build, with more than 10,600 active listings - a 6% increase from April and 34% higher than this time last year. New listings also rose 7% month-over-month to 4,007.

“High inventory in the Fraser Valley is giving buyers more choice, but it also means sellers are facing more competition,” says Tore Jacobsen, Chair of the Fraser Valley Real Estate Board. “We’re seeing that homes priced appropriately for today’s market are selling, while sellers who aren’t in a rush are choosing to hold off or stand firm on pricing.”

Right now, the Fraser Valley remains firmly in a buyer’s market, with a sales-to-active listings ratio of 11%. (For reference: a balanced market typically falls between 12% and 20%.) On average, detached homes sold in 34 days, townhomes in 27 days, and condos in 33 days.

Fraser Valley Benchmark Prices – May 2025:

Single Family Detached: $1,481,900
⬇️ 1.6% from April 2025
⬇️ 3.2% from May 2024

Townhomes: $832,800
⬇️ 0.03% from April 2025
⬇️ 2.5% from May 2024

Apartments: $532,700
⬇️ 0.9% from April 2025
⬇️ 4.0% from May 2024

As Baldev Gill, CEO of the Fraser Valley Real Estate Board, notes, many buyers remain cautious, keeping a close eye on the economy, job security, and cost of living. As soon as greater confidence starts to return, we could see more activity pick up in the market.

Wishing you all a great June ahead - and as always, if you have any questions or need anything real estate-related, feel free to reach out!

Jon Pereira
RE/MAX Performance Realty
📱 778-345-8897
📧 jon@jonpereirarealty.com
🌐 jonpereirarealty.com

25% Off New Condos - One Day Only

Mon, 26 May 2025 18:58:26 GMT

Hey all,

I’ve got some exciting news to share with you this week!

I’m thrilled to announce that I’ve been personally selected by SquareNine Developments as one of a few real estate professionals to help sell the remaining homes in their brand new Belvedere high-rise at 9675 King George Boulevard in Surrey.

And here’s the part you need to know - for one day only on May 31st, every available unit will be sold at a massive 25% discount.

Why This Matters:

- 230 out of 275 homes have already sold. The demand has been real, and now the developer wants the remaining homes gone - fast.

- Building is completed and move-in ready. No pre-sale waiting. You can secure your home and move in right away.

- Unheard of 25% discount on brand new concrete high-rise homes in the heart of Surrey City Centre.

- Perfect for first-time buyers, investors, or anyone looking for a sharp deal in an up-and-coming area.

What You Should Do:

Opportunities like this don’t happen every day - especially in this market. If you’ve been thinking about getting into real estate, picking up an investment property, or securing your first home, this could be your window.

Reach out to me ASAP for floor plans, pricing details, and to book your appointment for the May 31st sale event. Spots will fill up quickly, and once these remaining homes are gone - they’re gone.

778-345-8897
jon@jonpereirarealty.com

If this is for you, Let’s get you in on this before it’s too late!

Talk soon,

Jon Pereira
RE/MAX Performance Realty

Don’t Forget These Hidden Closing Costs When Buying a Home

Wed, 21 May 2025 19:25:47 GMT

When you're buying a home, it’s easy to focus on the big numbers — the list price, your down payment, your mortgage rate. But there are a few important closing costs that can sneak up on buyers if you’re not prepared.

Here’s a quick breakdown of the ones most people forget about:

📌 Property Transfer Tax (PTT)
This is one of the biggest costs when purchasing a home in BC. It’s charged based on the property’s fair market value at the time of purchase:

1% on the first $200,000

2% on the portion between $200,000 and $2 million

3% on amounts over $2 million

Example: On a $500,000 home, you’d be looking at about $8,000 in PTT.

📌 Title Insurance
A one-time expense that protects you against potential issues with a property’s title — like ownership disputes or unpaid liens. It typically runs between $250–$400, depending on the home’s value.

📌 GST on Newly Built Homes
If you’re buying a brand-new home, there’s a 5% GST applied to the purchase price. Some first-time buyers might qualify for partial exemptions, so it’s worth looking into.

📌 Legal Fees
A real estate lawyer or notary is a must to review contracts, handle paperwork, and manage the financial side of closing. Expect to budget around $1,500–$2,000.

Pro Tip: Before you start home shopping, it’s smart to get a clear estimate of these costs based on the type of property you’re targeting. It’ll help you budget realistically and avoid last-minute surprises.

If you’d like, I can help break down what your closing costs might look like on a home you’re considering — just give me a call at 778-345-8897.

Talk soon,

Jon Pereira
RE/MAX Performance Realty
📱 778-345-8897
📧 jon@jonpereirarealty.com

What’s Going On With Surrey’s Condo Market

Wed, 21 May 2025 19:21:35 GMT

There’s been a lot of talk about Surrey’s condo market over the past few weeks — so let’s address that in this week’s blog.

The short version?
We’re seeing more condos hitting the market, but sales aren’t keeping pace. Listings are sitting longer, and prices are either holding steady or softening slightly.

And it’s not just Surrey feeling it. City News Vancouver recently reported:

“Metro Vancouver condo market sees slowdown.”

And CBC echoed the trend:

“The condo market is slowing down. Where are all the buyers? Sales slump and prices slip in Toronto, Vancouver.”

This shift is happening across the region — and it’s creating a window of opportunity right here in Surrey.

What This Means for Buyers:

If you’ve been thinking about getting into the market — whether it’s your first home or an investment — this is one of the better markets we’ve seen in years for buyers.

✅ More selection: Browse, compare, and take your time without feeling rushed.
✅ Better negotiating power: With motivated sellers and fewer multiple offers, buyers are calling the shots.
✅ Long-term upside: Major infrastructure projects like the Surrey-Langley SkyTrain extension will continue to fuel growth in the years ahead.

My Take:

This isn’t the overheated, bidding-war market we saw in 2021-2022. It’s a balanced, opportunity-rich market for buyers who’ve been waiting on the sidelines.

If you’re curious about what’s available or want to explore some of the better deals out there, let’s connect — you might be surprised at what’s possible right now.

Talk soon,

Jon Pereira
RE/MAX Performance Realty
📱 778-345-8897
📧 jon@jonpereirarealty.com