Your Fraser Valley Real Estate Market Update
  
Overall inventory levels continued to recover as market activity remained moderate through January.
The Fraser Valley Real Estate Board processed 784 sales of all property types on its Multiple Listing Service® (MLS®) in January, a 2 per cent decrease compared to sales in December 2018, and a 35.2 per cent decrease compared to the 1,210 sales in January of last year.
This is the first time in the Board’s history that apartments have outsold residential detached homes during a month.
Here is the summary of the market for January
Total Sales Processed - 784
Total New Listings - 2,609
For the Fraser Valley region, the average number of days to sell an:
Apartment (Condos) - 45 Days
Townhomes - 44 Days
Single Family Detached - 55 Days
Of the total transactions Fraser Valley Real Estate Board processed:
190 were Townhouses
257 were Apartments (Condos)
250 were Single Family Detached
Total Active Inventory last month - 5,995 listings
HPI Benchmark Price Activity
Apartments/Condos
Benchmark Price - $409,000
Price decreased 2.2 % compared to December 2018
Price increased 1.2 % compared to January 2018
Townhomes
Benchmark Price - $522,100
Price decreased 1.8% compared to December 2018
Price increased 0.5% compared to January 2018
Single Family Detached
Benchmark Price - $951,100
Price decreased 1.2% compared to December 2018
Price decreased 3.3% compared to January 2018
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..
Reminder: As you know that I am in real estate investment and sales and my passion is to bring buyers/sellers together. Who have you talked to in past couple days that might be thinking about buying/selling in British Columbia or anywhere in Canada (I am blessed to be a part of a huge network that I meet/talk-to on regular basis which is the backbone of my business that my clients benefit.
Also, we offer a $500.00 referral fee to anyone that leads to successful completion of a sale.
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