Schreder Brothers Real Estate Group

Fraser Valley Sales Activity Remained Strong In July

Sixth strongest July, historically, for the Fraser Valley Real Estate Board

July 2017 STATISTICS REPORT

Sales in July remained strong with this past month being the sixth strongest July, historically, for the Fraser Valley Real Estate Board. Demand is still high for attached-style homes (condos and town homes) with July ringing in the 12th consecutive month that attached sales have outpaced detached sales in the region. For the buyers out there, overall inventory increased by 8.8% from June, meaning more options are now available.

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

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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?

Fraser Valley home sales still strong despite summer slowdown

SURREY, BC – Sales activity remained strong in July, despite month-over-month decreases for each of the three major residential property types. This was the sixth strongest July historically for the Fraser Valley Real Estate Board.

The Fraser Valley Real Estate Board processed 1,937 sales of all property types on its Multiple Listing Service® (MLS®) in July, a decrease of 1.3 per cent compared to the 1,962 sales in July of last year, and a 24.7 per cent decrease compared to the 2,571 sales in June 2017.

Of the 1,937 sales processed last month, 447 were townhouses and 544 were apartments. This is the twelfth consecutive month attached sales have outpaced detached sales in the region.

“Even though activity has eased off for the summer we’re continuing to see the same trends we’ve seen all year. Namely, strong demand for attached-style homes and slight but steady increases in pricing,” said Gopal Sahota, Board President.

Last month the total active inventory for the Fraser Valley was 5,970 listings. Active inventory decreased by 0.7 per cent year-over-year, and increased 8.8 per cent when compared to June 2017. The Board received 3,301 new listings in July, a 2.3 per cent increase from July 2016, and a 11 per cent decrease compared to June 2017’s 3,707 new listings.

“Thankfully we’re continuing to see greater amounts of inventory come on to the market, with homes that are priced effectively still selling fast and encountering multiple offer situations,” continued Sahota.

“If you’re looking to buy, you’ll be in the best position to do so if you know what you want and can make a decision quickly. Talk to a REALTOR® to help you get where you need to be.”

For the Fraser Valley region, the average number of days to sell a single family detached home in July 2017 was 24 days, compared to 18 days in July 2016.

HPI® Benchmark Price Activity

Full package:
http://www.fvreb.bc.ca/statistics/Package201707.pdf

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Summary
Article Name
Fraser Valley Sales Activity Remained Strong In July
Description
Sales in July remained strong with this past month being the sixth strongest July, historically, for the Fraser Valley Real Estate Board. Demand is still high for attached-style homes with July ringing in the 12th consecutive month that attached sales have outpaced detached sales in the region
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Publisher Name
The Schreder Brothers Real Estate Group
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