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
New Listing: Perfect family home in beautiful Walnut Grove!
Perfect family home in beautiful Walnut Grove! Situated on an extra wide lot, this 2-storey charmer features 4 BR’s (3rd & 4th BR’s merged into 1 XL bedroom can be restored to 2 BR’s), plus a flex room upstairs, and boasts real hardwoods, gas fireplace, large kitchen, vaulted living room and coffered dining room ceiling. Plus 2-car garage, exposed aggregate driveway, shed, dog run, new patio, new lawn, heat pump and 6 y/o roof. Kids can walk to nearby Gordon Greenwood Elementary or Walnut Grove Secondary, while you enjoy nearby shops, parks or a day of golf at The Redwoods. You’ll kick yourself if you miss this one.
OPEN 2-4 SUN, JUNE 12
Click HERE for more photos/video.
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.
SURREY, BC – Buyers of Fraser Valley real estate had significantly more inventory to choose from last month due to a record-breaking volume of new listings received for the month of February.
The Fraser Valley Real Estate Board (FVREB) received 3,742 new listings in February, an increase of 75.3 per cent compared to January, and an increase of 14.6 per cent compared to February of last year. The previous highest February for new listings was 3,283 in 2016.
The FVREB processed a total of 1,824 sales of all property types on its Multiple Listing Service® (MLS®) in February 2022, a decrease of 35.2 per cent compared to February 2021, and 39.2 per cent higher compared to January 2022. Sales remain strong at 18 per cent above the 10-year average.
By month end, February’s total active listings available for purchase were 3,790, a decrease of 8.0 per cent compared to the same month last year, however 62.5 per cent higher than what was available at the end of January. It’s the highest month-over-month increase in active listings in the Fraser Valley in 20 years.
According to the Fraser Valley Real Estate Board, it continues to be a seller’s market as demand continues to outpace supply in the region.
Read the latest stats HERE.
New FVREB stats show White Rock/South Surrey benchmark prices have increased (again) in all three categories:
Low inventory of homes available for sale means it’s still a “seller’s market”!
Contact me for a free “no strings” home evaluation.
Click HERE for the full story from the Fraser Valley Real Estate Board.
The Fraser Valley Real Estate Board (FVREB) says near record-breaking new listings have not been enough to match insatiable buyer demand.
Read the full story and get the latest statistics by clicking the link below…
| 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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