RSS


Fraser Valley market stays quiet through November


SURREY, BC – Despite November’s market continuing at a slower pace and dropping compared to all-time highs in 2017, sales and inventory levels for the month were on par with historical averages for this time of year.


The Fraser Valley Real Estate Board processed 1,028 sales of all property types on its Multiple Listing Service® (MLS®) in November, a decrease of 41 per cent compared to the 1,743 sales in November of last year, and a 11 per cent decrease compared to sales in October 2018.


Of the 1,028 total sales, 383 were residential detached homes, 241 were townhouses, and 286 were apartments.


“Lessening demand continues to impact our market significantly,” said John Barbisan, President of the Board. “In turn, that has given purchasing power back to buyers who now have more time and more options when it comes to making a decision.”


Active inventory for the Fraser Valley in November finished at 7,355 listings, decreasing 5 per cent month-over-month and increasing 43.4 per cent year-over-year.


A total of 2,077 new listings were received by the Board in November, a 25.2 per cent decrease from that received in October 2018, and a 10.6 per cent decrease compared to November 2017.


“The market is shifting, albeit slowly. But while buyers are enjoying a more comfortable real estate environment, sellers will have to pay attention to how these changes will affect their chances at success.”


“Work with a local REALTOR® who can help you put your home in the best position to move. There are always ways to elevate your home’s appeal and potential to sell, even when the market is slower.”


HPI® Benchmark Price Activity 


• Single Family Detached: At $976,200, the Benchmark price for a single family detached home in the Fraser Valley decreased 1.1 per cent compared to October 2018 and did not change compared to November 2017.


• Townhomes: At $532,800, the Benchmark price for a townhome in the Fraser Valley in the Fraser Valley decreased 1 per cent compared to October 2018 and increased 5.4 per cent compared to November 2017.


• Apartments: At $422,500, the Benchmark price for apartments/condos in the Fraser Valley decreased 2.4 per cent compared to October 2018 and increased 12.2 per cent compared to November 2017.


Full package:
http://www.fvreb.bc.ca/statistics/Package201811.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 | 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.