What's Happening in The Real Estate Market

The Fraser Valley real estate market remained active throughout October, with sales breaking slightly higher than the 10 year historical average for the month.

Sales activity was healthy for the month, especially in the townhome and apartment categories. With prices beginning to level off, it appears that buyers are becoming more motivated to explore the Valley's available inventory.

Lat month, the total active inventory for the Fraser Valley was 6035 listings, the lowest level seen for an October in ten years.

It seems that there's no bad time to sell a home in 2016 as demand for Fraser Valley real estate remains strong

Here is a summary of the statistics explaining  what is actually going on in the Fraser Valley real estate market.

Average number of days to sell a single family detached home in October 2016 - 31 Days

Average number of days to sell a single family detached home in October 2015 - 36 Days

Benchmark price of a single family detached home in October 2016 - $872,100 (up by 34.3%)

Benchmark price of a single family detached home in October 2015 - $649,200

Benchmark price of Townhomes in October 2016 - $421,300 (up by 34.3%)

Benchmark price of Townhomes in October 2015 - $313,700

Benchmark price of an Apartment in October 2016 - $254,300 (up by 25.2%)

Benchmark price of an Apartment in October 2015 - $203,100

These numbers are for the Fraser Valley region only.

For any other real estate related questions, please give me a call at 604 308 6404

As a Licensed Agent with an investment experience, I can help best serve your needs if you are planning to buy or sell properties in British Columbia.