Fraser Valley Real Estate Market August 2019

Fraser Valley Real Estate Market August 2019

Home sales in the Fraser Valley surpassed 2018 levels bringing the market closer to historical norms in August.

AUGUST 2019 STATISTICS REPORT

Fraser Valley Real Estate Report

Things are getting back to normal.  For the second month in a row sales activity in the Fraser Valley exceeded the same months last year. 

We are seeing an increasing amount of active buyers in all price ranges and things are moving a little quicker again. 

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


Schreder-Brothers-Real-Estate-The-Fraser-Valley-Real-Estate-Board-Report-Infographic-2019-august

All Fraser Valley Areas Combined

  • Detached – SALES DOWN FROM LAST MONTH: -8.3%
  • Townhouse – SALES DOWN FROM LAST MONTH: -16.2%
  • Condo/Apt – SALES DOWN FROM LAST MONTH: -3.8%
FVREB - Fraser Valley Statistics Package - august 2019 - All areas

Abbotsford

  • Detached – SALES DOWN FROM LAST MONTH: -26.9%
  • Townhouse – SALES DOWN FROM LAST MONTH: -19.6%
  • Condo/Apt – SALES DOWN FROM LAST MONTH: -2.6%
FVREB - Fraser Valley Statistics Package - august 2019 - Abbotsford BC

Mission

  • Detached – SALES DOWN FROM LAST MONTH: -8.2%
  • Townhouse – SALES UP FROM LAST MONTH: 150.0%
  • Condo/Apt – SALES UP FROM LAST MONTH: 200.0%
FVREB - Fraser Valley Statistics Package - august 2019 - Mission BC

White Rock / South Surrey

  • Detached – SALES DOWN FROM LAST MONTH: -19.2%
  • Townhouse – SALES DOWN FROM LAST MONTH: -28.6%
  • Condo/Apt – SALES UP FROM LAST MONTH: 21.2%
FVREB - Fraser Valley Statistics Package - august 2019 - white rock - south surrey BC

Langley

  • Detached – SALES DOWN FROM LAST MONTH: -8.3%
  • Townhouse – SALES DOWN FROM LAST MONTH: -16.8%
  • Condo/Apt – SALES UP FROM LAST MONTH: 16.1%
FVREB - Fraser Valley Statistics Package - august 2019 - langley BC

Delta – North

  • Detached – SALES DOWN FROM LAST MONTH: -2.0%
  • Townhouse – SALES DOWN FROM LAST MONTH: -12.5%
  • Condo/Apt – SALES DOWN FROM LAST MONTH: -16.7%
FVREB - Fraser Valley Statistics Package - august 2019 - delta north BC

Surrey – Central

  • Detached – SALES UP FROM LAST MONTH: 18.9%
  • Townhouse – SALES DOWN FROM LAST MONTH: -20.0%
  • Condo/Apt – SALES DOWN FROM LAST MONTH: -40.5%
FVREB - Fraser Valley Statistics Package - august 2019 - surrey central BC

Surrey – Cloverdale

  • Detached – SALES DOWN FROM LAST MONTH: -8.7%
  • Townhouse – SALES UP FROM LAST MONTH: 15.4%
  • Condo/Apt – SALES DOWN FROM LAST MONTH: -27.3%
FVREB - Fraser Valley Statistics Package - august 2019 - surrey cloverdale BC

Surrey – North

  • Detached – SALES DOWN FROM LAST MONTH: -8.0%
  • Townhouse – SALES DOWN FROM LAST MONTH: -39.1%
  • Condo/Apt – SALES DOWN FROM LAST MONTH: -12.0%
FVREB - Fraser Valley Statistics Package - august 2019 - surrey north BC

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

Fraser Valley housing market continues to stabilize as sales pick up compared to last year

SURREY, BC – For the second month in a row, home sales in the Fraser Valley surpassed 2018 levels bringing the market closer to historical norms.

The Fraser Valley Real Estate Board processed 1,297 sales of all property types on its Multiple Listing Service® (MLS®) in August, an 11 per cent decrease compared to sales in July 2019, and a 12.3 per cent increase compared to the 1,155 sales in August of last year.

Darin Germyn, President of the Board, observed, “Compared to last year, this August has been quite robust. All property types are selling and we’re seeing a resurgence in the single-family detached market. Across North Delta, Surrey and Langley, sales are up over 25 per cent.

“It’s great to see. We’re returning to a normal, steady market. Our sales, new listings and number of active listings in August were all slightly below the 10-year average.”

There were 8,040 active listings available in the Fraser Valley at the end of August, an increase of 9.6 per cent compared to August of last year and a decrease of 3.6 per cent compared to July 2019. The Board received 2,357 new listings in August, a 15.7 per cent decrease compared to July 2019’s intake of 2,797 new listings and an 8.5 per cent decrease compared to August of last year.

Germyn adds, “Inventory has stopped growing as demand has picked up, which is why we’re also seeing prices moderate. Last month, prices of typical homes in the Fraser Valley were on par with prices from six months ago.”

HPI® Benchmark Price Activity

  • Single Family Detached: At $954,100, the Benchmark price for a single-family detached home in the Fraser Valley decreased 0.3 per cent compared to July 2019 and decreased 5.4 per cent compared to August 2018.
  • Townhomes: At $521,400, the Benchmark price for a townhome in the Fraser Valley in the Fraser Valley increased 0.1 per cent compared to July 2019 and decreased 4.9 per cent compared to August 2018.
  • Apartments: At $409,200, the Benchmark price for apartments/condos in the Fraser Valley decreased 0.1 per cent compared to July 2019 and decreased 7.7 per cent compared to August 2018.

For the Fraser Valley region, the average number of days to sell an apartment in August was 45, and 36 for townhomes. Single family detached homes remained on the market for an average of 44 days before selling.

Find the August Statistics Package here.


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1 Comment

  1. I’m moving to Langley area early next year. I’ll be coming back to your site for more market information when I’m ready to buy 🙂