Happy Tuesday!

Winter is approaching, bringing the cold with it... Fortunately, we have great news to warm everyone's hearts!

You can't miss some of the most fun winter events and festive markets happening soon in Surrey. Also, City Wide Produce has opened a large facility that promises to meet the growing local demand with agritech technology!

We're also taking a look into how house prices have dropped this past month—could this be an opportunity for buyers?

— Scott

🎄 Don’t Miss These Must-Attend
Holiday Events in Surrey

Driving the news: Surrey's winter festivities are in full swing with activities that celebrate community, creativity, and seasonal cheer.

Whether you’re crafting unique ornaments or enjoying the glow of holiday lights, these events promise to warm the coldest days.

Details: 

• Vancouver Christmas Market (Nov 13-Dec 24): Experience a traditional German-inspired market at Jack Poole Plaza, featuring artisan vendors, festive treats, and live entertainment.
  (see more here)
  

• Glow Enchanted Forest (Nov 21-Dec 28): Explore a magical forest with glowing trees, mushroom homes, and woodland creatures at Glow Langley.
  (see more here)
  

• Beaded Ornament Workshop (Nov 23): Learn traditional Métis beading techniques with Sheila Lowe at Totest Aleng. Ages 16+, $30/person.
  (see more here)
  

• Noel Surrey Festival (Nov 28 - Dec 23): Surrey’s newest holiday light festival at the Cloverdale Fairgrounds.
  (see more here)
  

• Surrey Santa Parade of Lights (Dec 1): Enjoy a festive parade featuring illuminated floats, marching bands, and Santa Claus, bringing holiday cheer to the streets of Surrey.
  (see more here)
  

• Let It Snow! (Dec 3): Enjoy the Vancouver Welshmen's Choir at the Surrey Arts Centre.
  (see more here)
  

• stɑl̓əw̓ Craft Fair (Dec 7): Discover handmade goods at the Museum of Surrey.
  (see more here)
  

• Victorian Christmas Evening (Dec 7): Music, treats, and lantern-making at Historic Stewart Farm.
  (see more here)
  

• Breakfast with Santa (Dec 7 & 14): Family fun across community centers with games and breakfast for $11/person.
  (see more here)
  

• Winter Ice Palace (Dec 14-Jan 5): Skate amidst festive lights at Cloverdale Arena. Free with a Recreation Pass.
  (see more here)

The big picture: Surrey’s vibrant holiday lineup is a a great way to enjoy the city’s diverse cultural heritage, including Indigenous artistry, Victorian traditions, and modern festivities.

What’s next: Plan your holiday season by marking these dates on your calendar.

Registration for popular events like Breakfast with Santa and Victorian Christmas Evening fills quickly, so secure your spot early.

🌱 Surrey’s Growing Population Meets
Fresh Solutions

Driving the news: City Wide Produce has broken ground on a 26,680 sq. ft. facility in Surrey’s Campbell Heights, a project realized in collaboration with Orion Construction.

This new facility is a major step in bolstering the city’s agritech sector while tripling the company’s workforce and enhancing access to fresh produce.

Details: 

• The facility will feature advanced storage solutions, including temperature- and humidity-controlled zones, ensuring produce stays fresh for distribution across North America and the Lower Mainland.
  

• Its design focuses on efficiency, enabling the distribution of a broader variety and volume of produce to retailers and restaurants.
  

• Built to address the demands of a growing population—currently over 568,000—the project aligns with Surrey's Economic Strategy 2024, which prioritizes job creation, local investment, and efficient use of industrial land.

Why it matters: Surrey's commitment to sustainable growth is supported by projects like this, which aim to strengthen local food supply chains and create new opportunities for residents.

The facility's expansion will increase employment while also supporting farmers and producers in the area, reinforcing Surrey's role as an agritech hub.

The big picture: As part of a region that serves as a key food supply chain for the Lower Mainland, this facility exemplifies how businesses can collaborate with local governments to create infrastructure that meets future growth needs.

With its cutting-edge design, the facility highlights the importance of leveraging modern technology to support community development.

What’s next: The project is expected to progress rapidly, with City Wide Produce and Orion Construction aiming to complete the facility on time to meet the rising demand for fresh produce in the region.

Once operational, the company will begin its expanded service to a larger network of customers.

The bottom line: Surrey’s Campbell Heights facility is not just a win for City Wide Produce but for the entire community, creating jobs and increasing access to fresh, locally sourced produce.

It’s a tangible step toward a more sustainable, resilient future for the city.

🎥 The BEST Surrey & Langley Neighborhoods near Vancouver!

In this video, I'll guide you through Surrey & Langley's BEST hidden-gem
neighborhoods for living if you're a commuter!

📉 November Home Prices Dip in Vancouver—Opportunity Ahead?

Driving the news: Vancouver's housing market saw a slight decline in home prices this November as the city transitions into its typical holiday slowdown.

The composite benchmark price for all residential properties dipped to $1,185,100, reflecting a 4.9% increase year-over-year but a minor drop from October's figures.

Details:

• New listings on the MLS system fell by 27% from October, with 10,931 properties available—still 13.5% higher than November 2022.
  

• Sales activity showed some resilience, with 1,702 properties sold in November, up 4.7% from the previous year but well below the 10-year seasonal average.
  

• Detached homes experienced a 7% sales boost, with the benchmark price rising to $1,982,600—up 6.8% year-over-year.
  

• Apartments saw a slight increase in sales and a benchmark price of $762,700, reflecting a 6.2% annual gain, though monthly prices ticked down by 1%.

Why it matters: With balanced market conditions and modestly rising inventory, buyers now have more opportunities to explore options that were scarce in previous years.

Local residents might find the current market more approachable, especially with projections of falling mortgage rates in 2024, as highlighted by Andrew Lis, the Real Estate Board of Greater Vancouver's director of economics.

The big picture: This period of balance follows a 7% price increase earlier in the year, signaling a shift from a seller-dominated market to one more favorable for buyers.

However, activity remains below long-term averages, reflecting a cautious market sentiment amid economic uncertainties.

What’s next: Market dynamics could become more favorable for buyers in 2024 if mortgage rates ease as expected.

For now, the quieter holiday season offers time for potential buyers to prepare for opportunities in the new year.

The bottom line: Vancouver’s housing market is entering a phase of stability, providing a breather for buyers and sellers alike.

While prices remain elevated, the gradual cooling offers a chance for locals to engage with the market under less pressure.

📰 In Other News:

• The ranks of the uber-wealthy are booming: here's how many are in Canada
  

• Canada's home sales up 30% in surprise October surge
  

• Uber plans to expand across B.C. next year

📊 Current Market Snapshots:

That’s all for today, I hope you have an amazing week!

If there’s ever anything you need:

• a custom market or home value report

• a home services list for a reliable contractor or services professional

• feedback or a professional opinion on a home project

Just let me know! We’re here to help with all your home needs.

Talk soon,

Scott with the Moe Team