The Fraser Valley housing market kicked-off summer with a further increase to overall inventory and a downturn in sales across all major residential property types.
The Fraser Valley Real Estate Board processed 1,452 sales of all property types on its Multiple Listing Service® (MLS®) in June, a decrease of 43.5 per cent compared to the 2,571 sales in June of last year, and a 17.4 per cent decrease compared to the 1,758 sales in May 2018.
Of the 1,452 sales processed last month 364 were townhouses and 392 were apartments, together representing 52 per cent of all transactions in June.
Active inventory for the Fraser Valley finished at 7,141 listings last month, increasing 6 per cent month-over-month and 30.1 per cent year-over-year.
The Board received 3,140 new listings in June, a 20.8 per cent decrease from May 2018’s 3,965 new listings, and a 15.3 per cent decrease compared to June 2017
For the Fraser Valley region the average number of days to sell an apartment in June was 21, and 19 for townhomes. Single family detached homes remained on the market for an average of 26 days before selling.
Read more and see all the stats by clicking here.
Resource from FVREB