Up till 4 years ago or so there was high inventory of houses under 1 million. But since we saw last wave of escalating prices that started about 3 years ago in around Greater Vancouver and Fraser Valley, there was hardly any home for sale under $1,000,000.
Due to government interference in trying to cool down prices and stiff mortgage rules, we have noticed single family house prices in Surrey has dropped drastically. Now, there are lot of options for buyers who are looking to buy house under 1 million with or without rental suite.
In a way its good thing as housing is more affordable now and buyers are able to put tier foot into single family detached houses as it seemed almost impossible in last 3 to 4 years.
I see many house price reductions for homes that are listed for over million dollars or houses only sell if they are sharply priced. There are several choices for single family houses in Newton, Fleetwood, Sullivan Station and Queen Mark Park area.
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