RSS

It comes as no surprise that 2015 has has turned out to be the strongest year in the decade just shy of the region's previous sales high in 2005. According to the FVREB there were 33% more unit sales and four billion more in dollar volume than what was sold in 2014.

 

Looking forward to what 2016 brings... The latest Statistics Package from the FVREB. Full report on the link below.

 

News Release: January 5, 2016

FRASER VALLEY REAL ESTATE IN HOT DEMAND THROUGHOUT 2015

SURREY, BC – Fraser Valley real estate experienced its strongest year in a decade in 2015. This was the second highest year for property sales in Fraser Valley’s history, just shy of the region’s previous sales high in 2005.

The Board’s Multiple Listing Service® (MLS®) processed 21,095 sales in 2015, 33 per cent more than the 15,840 sales in 2014, and 0.9 per cent fewer than the 21,282 sales in 2005. The total dollar volume of MLS® sales was a record setting $12.1 billion, four billion more than was sold in 2014.

In contrast, the Board received a typical volume of new listings in 2015 – 30,998 – comparable to the average over the last ten years, set at 31,296 new listings.

Jorda Maisey, President of the Fraser Valley Real Estate Board, attributes 2015’s market strength to a strong economy elevating consumer housing demand. “The Fraser Valley has always appealed to consumers looking for competitive pricing and a diverse range of housing options.

“Last year shows that consumers recognize the long-term value of property ownership in the Fraser Valley, particularly valuing the single family home, which they recognize is becoming a limited commodity. Sales of single family detached increased across all of our communities, in some instances more than doubling 2014’s sales.”

Sales during December were the highest for that month in Fraser Valley’s history. The Board processed 1,543 sales, an increase of 44 per cent compared to December of 2014. December’s total inventory in the Fraser Valley was 4,280 active listings; 33 per cent fewer than were available in December 2014.

The MLS® Home Price Index benchmark price of a detached home in December was $672,400, an increase of 17.3 per cent compared to December of last year when it was $573,100. The MLS® HPI benchmark price of townhouses increased 9.6 per cent going from $293,500 in December of last year to $321,800 last month. The benchmark price of apartments was $204,900, an increase of 7.3 per cent compared to $191,100 in December 2014.

Maisey adds, “The market remains buoyant, and with very low inventory currently there is tremendous opportunity for sellers. For buyers finding it challenging in their search, REALTORS® are recommending they consider a variety of housing options and communities they may not have considered. There’s a lot of choice out there, you just need to know where to look.”

 

Full package:
http://www.fvreb.bc.ca/statistics/Package%20201512.pdf


Read
Categories:   100 Mile House - Town, 100 Mile House (Zone 10) Real Estate | Abbotsford East, Abbotsford Real Estate | Bridge Lake/Sheridan Lake, 100 Mile House (Zone 10) Real Estate | Brighouse, Richmond Real Estate | Brookswood Langley, Langley Real Estate | Cambie, Vancouver West Real Estate | Campbell Valley, Langley Real Estate | Central Abbotsford, Abbotsford Real Estate | Central Coquitlam, Coquitlam Real Estate | Champlain Heights, Vancouver East Real Estate | Clayton, Cloverdale Real Estate | Cloverdale BC, Cloverdale Real Estate | Collingwood VE, Vancouver East Real Estate | Cottonwood MR, Maple Ridge Real Estate | Crescent Bch Ocean Pk., South Surrey White Rock Real Estate | Cultus Lake South, Cultus Lake & Area Real Estate | East Central, Maple Ridge Real Estate | East Newton, Surrey Real Estate | Elgin Chantrell, South Surrey White Rock Real Estate | Grandview Surrey, South Surrey White Rock Real Estate | Hatzic, Mission Real Estate | Hazelmere, South Surrey White Rock Real Estate | Holly, Ladner Real Estate | King George Corridor, South Surrey White Rock Real Estate | Ladner Elementary, Ladner Real Estate | Langley City, Langley Real Estate | Maillardville, Coquitlam Real Estate | Morgan Creek, South Surrey White Rock Real Estate | Mount Pleasant VE, Vancouver East Real Estate | Panorama Ridge, Surrey Real Estate | Queen Mary Park Surrey, Surrey Real Estate | Roche Point, North Vancouver Real Estate | Salmon River, Langley Real Estate | Sardis South, Sardis Real Estate | Scottsdale, N. Delta Real Estate | South Meadows, Pitt Meadows Real Estate | Southwest Maple Ridge, Maple Ridge Real Estate | Sullivan Station, Surrey Real Estate | Sunnyside Park Surrey, South Surrey White Rock Real Estate | Sunshine Hills Woods, N. Delta Real Estate | Surrey Real Estate | Whalley, North Surrey Real Estate | White Rock, South Surrey White Rock Real Estate | Willoughby Heights, Langley Real Estate
Reciprocity Logo The data relating to real estate on this website comes in part from the MLS® Reciprocity program of either the Greater Vancouver REALTORS® (GVR), the Fraser Valley Real Estate Board (FVREB) or the Chilliwack and District Real Estate Board (CADREB). Real estate listings held by participating real estate firms are marked with the MLS® logo and detailed information about the listing includes the name of the listing agent. This representation is based in whole or part on data generated by either the GVR, the FVREB or the CADREB which assumes no responsibility for its accuracy. The materials contained on this page may not be reproduced without the express written consent of either the GVR, the FVREB or the CADREB.