Fraser Valley Real Estate Market Update

Demand for Fraser Valley properties persisted through November due to strong sales of attached houses across the region. Attached listings are selling really fast these days and often face multiple offer situations.

Fraser Valley Real Estate Board processed:

1,743 sales of all property types in November

An increase of 39.8% compared to November of last year and a decrease of 3.1% compared to sales in October, 2017.

Attached sales represented 53% of all market activity for the month

Here is the summary of the market for November.

Total number of Apartments sold - 496

Total number of Townhomes sold - 426

Total number of Detached homes sold - 821

Total active inventory - 5,129

Total number of new listings - 2,324

Number of days to sell an Apartment - 17 Days

Number of days to sell Townhomes - 21 Days

Number of days to sell Single Family Detached - 31 Days

HPI Benchmark Price Activity

Apartments/Condos 

Benchmark Price - $376,700

Price increased  2% compared to October 2017

Price increased by 36.6% compared to November 2016

Townhomes

Benchmark Price - $505,700

Price increased 0.6% compared to October 2017

Price increased 19% compared to November 2016

Single Family Detached

Benchmark Price - $972,700

Price increased  0.1% compared to October 2017

Price increased 13.2% compared to November 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..