Schreder-Brothers-Real-Estate-The-Fraser-Valley-Real-Estate-Board-Report-Infographic---Blog-Header-APRIL-2019

Fraser Valley Real Estate Market April 2019

Fraser Valley sales of certain property types and price ranges remain solid in April.

APRIL 2019 STATISTICS REPORT

Fraser Valley Real Estate Report

Overall, the market was slow in terms of the number of transaction during the month of April; however, prices have stabilized and there is a lot of inventory making it a great time to buy in the Fraser Valley. Read more below and give us a call to see how you can take advantage.

See Listed Properties For Sale in Langley BC

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

GO TO LAST MONTHS STATS



All Fraser Valley Areas Combined

  • Detached – SALES UP FROM LAST MONTH: 5.8%
  • Townhouse – SALES UP FROM LAST MONTH: 26.3%
  • Condo/Apt – SALES UP FROM LAST MONTH: 8.1%
Schreder-Brothers-Real-Estate-Group---Langley-BC---Fraser-Valley-Real-Estate-Board-Statistic-Package---APRIL 2019-all areas

Abbotsford

  • Detached – SALES UP FROM LAST MONTH: 20.8%
  • Townhouse – SALES UP FROM LAST MONTH: 59.0%
  • Condo/Apt – SALES UP FROM LAST MONTH: 30.4%
Schreder-Brothers-Real-Estate-Group---Langley-BC---Fraser-Valley-Real-Estate-Board-Statistic-Package---APRIL 2019-abbotsford

Mission

  • Detached – SALES DOWN FROM LAST MONTH: -12.5%
  • Townhouse – SALES EVEN FROM LAST MONTH: 0.0%
  • Condo/Apt – SALES UP FROM LAST MONTH: 66.7%
Schreder-Brothers-Real-Estate-Group---Langley-BC---Fraser-Valley-Real-Estate-Board-Statistic-Package---APRIL 2019-mission

White Rock / South Surrey

  • Detached – SALES UP FROM LAST MONTH: 3.4%
  • Townhouse – SALES UP FROM LAST MONTH: 6.1%
  • Condo/Apt – SALES DOWN FROM LAST MONTH: -3.5%
Schreder-Brothers-Real-Estate-Group---Langley-BC---Fraser-Valley-Real-Estate-Board-Statistic-Package---APRIL 2019-white rock south surrey

Langley

  • Detached – SALES UP FROM LAST MONTH: 32.3%
  • Townhouse – SALES UP FROM LAST MONTH: 30.0%
  • Condo/Apt – SALES DOWN FROM LAST MONTH: -4.7%
Schreder-Brothers-Real-Estate-Group---Langley-BC---Fraser-Valley-Real-Estate-Board-Statistic-Package---APRIL 2019-langley

Delta – North

  • Detached – SALES DOWN FROM LAST MONTH: -28.6%
  • Townhouse – SALES UP FROM LAST MONTH: 66.7%
  • Condo/Apt – SALES UP FROM LAST MONTH: 20.0%
Schreder-Brothers-Real-Estate-Group---Langley-BC---Fraser-Valley-Real-Estate-Board-Statistic-Package---APRIL 2019-delta north

Surrey – Central

  • Detached – SALES DOWN FROM LAST MONTH: -8.2%
  • Townhouse – SALES UP FROM LAST MONTH: 25.3%
  • Condo/Apt – SALES UP FROM LAST MONTH: 3.0%
Schreder-Brothers-Real-Estate-Group---Langley-BC---Fraser-Valley-Real-Estate-Board-Statistic-Package---APRIL 2019-surrey central

Surrey – Cloverdale

  • Detached – SALES UP FROM LAST MONTH: 18.2%
  • Townhouse – SALES UP FROM LAST MONTH: 21.7%
  • Condo/Apt – SALES UP FROM LAST MONTH: 22.7%

Surrey – North

  • Detached – SALES UP FROM LAST MONTH: 20.0%
  • Townhouse – SALES UP FROM LAST MONTH: 15.4%
  • Condo/Apt – SALES UP FROM LAST MONTH: 8.9%
Schreder-Brothers-Real-Estate-Group---Langley-BC---Fraser-Valley-Real-Estate-Board-Statistic-Package---APRIL 2019-surrey north

What Does The Fraser Valley Real Estate Board Have To Say?

Slower than normal market still attracting buyers in the Fraser Valley

SURREY, BC – The Fraser Valley real estate market experienced its second slowest April in ten years and yet sales of certain property types and price ranges remain solid.

The Fraser Valley Real Estate Board processed 1,383 sales of all property types on its Multiple Listing Service® (MLS®) in April, a 13.3 per cent increase compared to sales in March 2019, and a 19 per cent decrease compared to the 1,708 sales in April of last year. Of the 1,383 total sales of residential and commercial combined, 489 were residential detached homes, 379 were townhouses, and 374 were apartments.

Darin Germyn, President of the Board, said of the market: “Consumers may not have the purchasing power that they did prior to January 2018, but the desire for home ownership is still there and we’re seeing that reflected in our MLS® data.

“Detached homes under one million dollars and attached homes – ranging from $400,000 to $700,000 – continue to attract buyers in the Fraser Valley. Townhome sales in Abbotsford increased by almost 60 per cent compared to March and were on par with last year’s April sales.”

There were 7,870 active listings available in the Fraser Valley at the end of April, an increase of 12.3 per cent compared to March 2019’s inventory and an increase of 38.9 per cent year-over-year.

The Board received 3,391 new listings during the month, an 18.1 per cent increase compared to March 2019’s intake of 2,872 new listings and a decrease of 1.1 per cent compared to April of last year.

“A slower, stable market has had a positive impact on affordability in our region. Prices of typical residential homes in the Fraser Valley have decreased between 5 and 6 per cent in the last year. In the last three months, benchmark prices have either plateaued or have experienced a small recovery,” added Germyn.

For the Fraser Valley region, the average number of days to sell an apartment in April was 37, and 31 for townhomes. Single family detached homes remained on the market for an average of 37 days before selling.

HPI® Benchmark Price Activity

  • Single Family Detached: At $964,600, the Benchmark price for a single family detached home in the Fraser Valley increased 0.2 per cent compared to March 2019 and decreased 4.8 per cent compared to April 2018.
  • Townhomes: At $521,800 the Benchmark price for a townhome in the Fraser Valley in the Fraser Valley increased 0.9 per cent compared to March 2019 and decreased 5.1 per cent compared to April 2018.
  • Apartments: At $420,700, the Benchmark price for apartments/condos in the Fraser Valley increased 0.6 per cent compared to March 2019 and decreased 6 per cent compared to April 2018.

Full package:
https://www.fvreb.bc.ca/statistics/Package201904.pdf


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