SURREY, BC – Market activity declined further in August with sales dropping to their lowest level this year.

The Fraser Valley Real Estate Board processed 1,155 sales of all property types on its Multiple Listing Service® (MLS®)

in August, a decrease of 38.5 per cent compared to the 1,879 sales in August of last year, and a 10.5 per cent decrease compared to the 1,290 sales in July 2018.

Sales of attached homes continued to represent over fifty per cent of all activity in the Fraser Valley this month, with 294 townhouses and 318 apartments selling in August.

“With demand slowing down and prices staying put, both buyers and sellers can expect to see an easing of competition with less multiple offer situations,” said John Barbisan, President of the Board. “Right now, effective pricing is key and will be the determining factor for a successful transaction.”

Active inventory for the Fraser Valley in July finished at 7,339 listings, decreasing 0.8 per cent month-over-month and increasing 28.5 per cent year-over-year.

2,575 new listings were received by the Board in August, an 11.8 per cent decrease from July 2018’s 2,921 new listings, and a 2.2 per cent decrease compared to August 2017’s intake.

“Our market continues to open up the further we get into the year, and that means you can make more considered, informed decisions if you’re looking to jump in,” continued Barbisan. “The best first step you can take is talking to a local REALTOR® who can help you determine your options and a plan forward.”

Read more and see all the stats by clicking here. 

Resource from FVREB

SURREY, BC – Overall housing supply continued to grow in July as sales dropped to their lowest point this year since January.

The Fraser Valley Real Estate Board processed 1,290 sales of all property types on its Multiple Listing Service® (MLS®) in July, a decrease of 33.4 per cent compared to the 1,937 sales in July of last year, and a 11.2 per cent decrease compared to the 1,452 sales in June 2018.

Of the 1,290 sales processed last month 346 were townhouses and 337 were apartments, together representing 53 per cent of all transactions in July.

Active inventory for the Fraser Valley in July finished at 7,399 listings, increasing 3.6 per cent month-over-month and 23.9 per cent year-over-year.

Read more and see all the stats by clicking here. 

Resource from FVREB

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

SURREY, BC – The Fraser Valley stepped towards a more balanced market in May, with both sales and overall inventory reaching their highest points for the year.

The Fraser Valley Real Estate Board processed 1,758 sales of all property types on its Multiple Listing Service® (MLS®) in May, a decrease of 35.1 per cent compared to the 2,707 sales in May of last year, and a 2.9 per cent increase compared to the 1,708 sales in April 2018.

Of the 1,758 sales processed last month 417 were townhouses and 516 were apartments, together representing 53 per cent of all transactions in May.

Active inventory for the Fraser Valley finished at 6,736 listings last month, the highest level since September 2015, increasing 18.9 per cent month-over-month and 29.5 per cent when compared to May 2017.

“This is the most inventory we’ve had in over two years,” said John Barbisan, Board President. “Now that the pace of our market has begun to settle, we’re seeing more opportunities for buyers and less pressure to make fast decisions.”

 

The Board received 3,965 new listings in April, a 15.6 per cent increase from April 2018’s 3,429 new listings, and a 6.8 per cent increase compared to May 2017.

“Sales continue to be strong and there’s plenty of potential for sellers if they understand the market and price effectively. Consult your local REALTOR® for informed perspective on what’s happening in your community and what your best options are.”

 

For the Fraser Valley region the average number of days to sell an apartment in May was 15, and 16 for townhomes. Single family detached homes remained on the market for an average of 24 days before selling.

HPI® Benchmark Price Activity

• Single Family Detached: At $1,020,800, the Benchmark price for a single family detached home in the Valley increased 1.1 per cent compared to April 2018, and increased 11.6 per cent compared to May 2017.
• Townhomes: At $555,500, the Benchmark price for a townhome in the Fraser Valley increased 1 per cent compared to April 2018, and increased 20.6 per cent compared to May 2017.
• Apartments: At $452,900, the Benchmark price for apartments/condos in the Fraser Valley increased 1.2 per cent compared to April 2018, and increased 42.4 per cent compared to May 2017

Source credit: FVREB

Find the May Statistics Package here.