Schreder Brothers Real Estate Group

Growing Demand For Townhomes & Condos In The Fraser Valley

The Second Strongest August Historically in Terms of Sales for Fraser Valley Real Estate Board

August 2017 STATISTICS REPORT

This past August was the second strongest August historically, in terms of sales, thanks to persistent and growing demand for townhomes and apartments in the Fraser Valley.

The Fraser Valley Real Estate Board processed 1,879 sales of all property types on its Multiple Listing Service® (MLS®) in August, an increase of 10.9% compared to the 1,694 sales in August of last year, and a 3% decrease compared to the 1,937 sales in July 2017.

Of the total sales processed 470 were townhouses and 548 were apartments, together representing 54% of market activity in August. For the Fraser Valley region, the average number of days to sell an apartment in August was 17 days, notable when compared to 26 at this time last year. Townhomes sold in an average of 16 days, and single family detached took 25.

These numbers show that it is still a great time to be a seller so if you are thinking about selling, give us a call!

If you are considering selling or just have questions about the market, please give us a call today and let’s chat.

See last months statistics –>> http://schreders.ca/sales-strong-july-fraser-valley/

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All Fraser Valley Areas Combined

Abbotsford – Mission – White Rock – Langley – Delta/North – Surrey Central – Cloverdale – Surrey/North

 

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Abbotsford

 

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Mission

 

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White Rock

 

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Langley

 

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Delta – North

 

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Surrey – Central

 

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Surrey – Cloverdale

 

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Surrey – North

 

What Does FVREB Have To Say?

Continued demand for attached homes brings second strongest August historically

SURREY, BC – Persistent and growing demand for townhomes and apartments in the Fraser Valley led to the second strongest August historically in terms of sales.

The Fraser Valley Real Estate Board processed 1,879 sales of all property types on its Multiple Listing Service® (MLS®) in August, an increase of 10.9 per cent compared to the 1,694 sales in August of last year, and a 3 per cent decrease compared to the 1,937 sales in July 2017.

Of the total sales processed 470 were townhouses and 548 were apartments, together representing 54% of market activity in August.

“It’s not surprising to see demand like this still so late into the summer; the Fraser Valley has never been a better place to live than it is now,” said Board President Gopal Sahota. “Our communities are thriving, and there are still affordable options throughout our region. Also, it doesn’t hurt that removing the bridge tolls gives us even greater access to the Lower Mainland.”

Last month the total active inventory for the Fraser Valley was 5,712 listings. Active inventory decreased by 4.3 per cent month-over-month, and decreased 6.4 per cent when compared to August 2016.

The Board received 2,633 new listings in August, a 20.2 per cent decrease from July 2017, and a 7.3 per cent decrease compared to August 2016’s 2,840 new listings.

“Anyone whose looking for a townhome or apartment will have to move quickly – units are selling faster than they ever have here,” continued Sahota. “Talk to your REALTOR® for the best advice on how to prepare yourself and succeed in a competitive market like this one.”

For the Fraser Valley region the average number of days to sell an apartment in August was 17 days, notable when compared to 26 at this time last year. Townhomes sold in an average of 16 days, and single family detached took 25.

HPI® Benchmark Price Activity

Full package:
http://www.fvreb.bc.ca/statistics/Package201708.pdf

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Get The Full Monthly Statistics Package

Summary
Article Name
Growing Demand For Townhomes & Condos In The Fraser Valley
Description
The Fraser Valley Real Estate Board processed 1,879 sales of all property types on its Multiple Listing Service® (MLS®) in August, an increase of 10.9% compared to the 1,694 sales in August of last year
Author
Publisher Name
The Schreder Brothers Real Estate Group
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