Fraser Valley Real Estate Market Update

Ongoing demand for properties in the Fraser Valley saw overall sales reach the second highest point for October. The FVREB processed 1,799 sales of all property types on its Multiple Listing Service in October which is an increase of 23% compared to the 1,463 sales in October of last year.

Attached sales represented 56% of all market activity for the month, with apartment sales totaling 591 and townhomes at 418. Apartment activity was notably strong in October with a sales to-active ratio of 105%.

Here is the summary of the data as released by the Fraser Valley Real Estate Board for October.

New Listings in October - 2,479

Number of days to sell an Apartment - 18 Days

Number of days to sell a Townhome - 19 Days

Number of days to sell a Single Family Detached - 31 Days

Now here is the HPI Benchmark Price Activity for October.

Single Family Detached

At $971,900, the Benchmark price for a single family detached home in the Valley decreased 0.3% compared to September 2017, and increased 11.8% compare to October 2016.

Townhomes

At $502,800 the Benchmark price for a townhome in the Fraser Valley increased 0.8% compared to September 2017, and increased 18.4% compared to October 2016.

Apartments (Condos)

At $369,400, the Benchmark price for apartments in the Fraser Valley increased 3.1% compared to September 2017, and increased 36.4% compared to October 2016.

For the most updated market information on what is happening in your neighborhood, give me a call at 604 308 6404 or e mail at RealtorNischal@gmail.com. The support of a real estate expert goes a long way when navigating a busy market in the Fraser Valley..