News Release: April 4, 2016


MARCH SEES HIGHEST MONTHLY SALES ON RECORD FOR FRASER VALLEY


SURREY, BC – Fraser Valley real estate hit a historical high in March, setting the record for sales processed in one month since the Fraser Valley Real Estate Board’s (FVREB) inception in 1921. .

In March, the FVREB processed 3,006 sales on its Multiple Listing Service® (MLS®), an increase of 62 per cent compared to March 2015 and 26 per cent more then was processed in February. The previous record of 2,720 processed sales was set in March of 1991.

Charles Wiebe, President of the Board, said of this month’s statistics, “This market is uncharted territory for Fraser Valley real estate. It’s typical for spring to see a jump in activity; however, March came and went at a break-neck, record-setting pace. I’ve never seen anything like it.”

“While I’m certainly encouraged that so many are finding their way to owning a home in the Fraser Valley, I know that it can also be challenging for first-time homebuyers and those looking to transition. Talk to a local REALTOR®, and discuss what you want and what’s possible for you. We can help you get there.”

The Board received 4,057 new listings in March, an increase of 31 per cent compared to March of last year, and a 24 per cent increase from February. The total active inventory for March was 5,485, down 33 per cent from last year’s 8,193 active listings.

Wiebe commented, “This is typically a busy time of year to buy and sell real estate, and those seeking homes are hungry to purchase. Unfortunately, inventory is struggling to keep up. With that said, if you’re thinking of selling your home, I encourage you to talk to a REALTOR® and consider your current opportunities. The market is in your favor.”

Across Fraser Valley, the average number of days to sell a single family detached home in March 2016 was 17 days, compared to 43 days in March 2015.

The MLS® HPI benchmark price of a Fraser Valley single family detached home in February was $741,000, an increase of 26 per cent compared to March 2015 when it was $588,500.

In March, the benchmark price of townhouses was $344,300, an increase of 14.9 per cent compared to $299,700 in March 2015. The benchmark price of apartments also increased year-over-year by 13.8 per cent, going from $190,800 in March 2015 to $217,200 in March 2016.

Full package:
http://www.fvreb.bc.ca/statistics/Package%20201603.pdf

Read full post
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 Coquitlam, Coquitlam Real Estate | Clayton, Cloverdale Real Estate | Cloverdale BC, Cloverdale Real Estate | Collingwood VE, Vancouver East Real Estate | Crescent Bch Ocean Pk., South Surrey White Rock 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 | Queen Mary Park Surrey, Surrey Real Estate | Roche Point, North Vancouver Real Estate | Salmon River, Langley 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
The data relating to real estate on this website comes in part from the MLS® Reciprocity program of either the Real Estate Board of Greater Vancouver (REBGV), 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 REBGV, 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 REBGV, the FVREB or the CADREB.