Surrey home on large lot gets five offers

17946 94TH AVE., SURREY

ASKING PRICE $2.2 million

SELLING PRICE $2.3 million

DAYS ON MARKET 11

TAXES $6,923

LISTING AGENT Bryan Yan, Regent Park Realty

The Action: Listing agent Bryan Yan received five offers following the house's first showing. The successful bid came from buyers from the Lower Mainland.

"It's a very long-term investment for them, and I think it's a solid investment, but it will take time," Mr. Yan said.

"[The area] has potential for strata development, so it's for people who are experienced and have further means and resources for building. Otherwise, one just simply holds on until prices increase. And it will take time for the infrastructure to be finished."

What They Got: The two-acre property is in northern Surrey's Anniedale-Tynehead area. The 28-year-old four-bedroom, three-bathroom house boasts 2,420 square feet on a 190- by 448-foot lot. Features include a large oak-trimmed kitchen, two skylights, and a two-car garage.

The Agent's Take: "For developers and buyers, Surrey and other suburb markets are getting more attractive because prices are so high in Vancouver," Mr. Yan said.

"[Home] buyers have to move to the suburbs if they want ownership or more space. It's easily over $1,000 per square foot for apartments in Vancouver now, which is quite unaffordable for locals."