In December, the average number of days to sell a single-family detached home in the Fraser Valley was 42 and a townhome 39 days. Condos took, on average, 33 days to sell. A year ago, properties were moving two to three times faster. That said, our market usually ticks up in January, with more listings and more buying activity.
Click HERE for details from the Fraser Valley Real Estate Board
Fraser Valley housing market sales for October remained relatively unchanged from last month as prices dipped slightly across all categories.
For detached homes, prices are on par with October 2021 levels, while townhomes and apartments are up 7.7 per cent and 11.5 per cent, respectively, over 2021.
The average number of days spent on the market before selling was relatively unchanged for detached homes and apartments compared to last month (34 days and 31 days, respectively). Townhomes moved more quickly at 27 days (compared to 32 days in September).
Click HERE for full story.
The latest FVREB stats out today show a continued slowing of sales and a slight rise in inventory combining to bring greater stability to the Fraser Valley housing market.
• Single Family Detached: At $1,462,000, the Benchmark price decreased 3.4 per cent compared to August 2022 and increased 4.1 per cent compared to September 2021.
• Townhomes: At $822,400, the Benchmark price decreased 2.3 per cent compared to August 2022 and increased 11.6 per cent compared to September 2021.
• Condos: At $530,400 the Benchmark price decreased 2.1 per cent compared to August 2022 and increased 14.5 per cent compared to September 2021
Click HERE for the full story.
The latest stats are out from the Fraser Valley Real Estate Board, and the average number of days to sell a single-family detached home has increased to 33. For townhomes it’s 26 days, while apartments/condos in August took, on average, 25 days to sell.
Click HERE for latest stats from Fraser Valley Real Estate Board.
The Fraser Valley real estate market saw sales fall again in July in the face of continued interest rate hikes, as the government struggles to bring inflation under control.
“It is important to keep in mind that real estate is and always will be an asset with considerable upside over the long-term,” said Fraser Valley Real Estate Board President, Sandra Benz.
“As prices come down from the highs of recent months, there are opportunities for buyers who have been waiting to re-enter the market and shop for the right property.”
View the press release & stats HERE
Overall sales in the Fraser Valley fell for the third straight month as prices for all property types continued to soften, bringing greater balance to the region’s real estate market. In June, the Board processed 1,281 sales on its Multiple Listing Service® (MLS®), a decrease of 5.8 per cent compared to May and a 43 per cent decrease compared to June of last year.
Sandra Benz, President of the Board, said, “In just two months our market overall has shifted into balance mainly due to a softening of demand for single-family detached homes. She added, “The condo and townhome markets, although they have moderated, they continue to favour sellers as the sales-to-active listings ratios continue to trend higher, however with fewer multiple offer situations compared to previous months, it’s likely that we will see further softening in these property types as we return to pre-COVID work-life routines.”
View the press release & stats HERE
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A slowing of sales combined with an increase in active listings is helping to restore a semblance of balance to the market, which is encouraging for homebuyers, says the Fraser Valley Real Estate Board.
Click HERE for the full story.
Single Family Detached:
At $1,670,800, the Benchmark price for an FVREB single-family detached home increased 6.5 per cent compared to last month and increased 43.6 per cent compared to February 2021.
Townhomes:
At $840,900, the Benchmark price for an FVREB townhome increased 5.6 per cent compared to last month and increased 40.1 per cent compared to February 2021.
Apartments:
At $614,800 the Benchmark price for an FVREB apartment/condo increased 7.1 per cent compared to last month and increased 36.3 per cent compared to February 2021.
| The data included on this website is deemed to be reliable, but is not guaranteed to be accurate by the Fraser Valley Real Estate Board. The trademarks REALTOR®, REALTORS® and the REALTOR® logo are controlled by The Canadian Real Estate Association (CREA) and identify real estate professionals who are members of CREA. Used under license. |
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