Following a healthy boost in sales in October, Fraser Valley home sales dropped in November as slower seasonal buying trends set in amid balanced market conditions.
The Fraser Valley Real Estate Board recorded 1,136 sales in November, down 15 per cent from October, but 28 per cent above November 2023 sales. "Buying and selling activity is typically quiet at this time of year," said Jeff Chadha, Chair of the Fraser Valley Real Estate Board. "But it's worth noting that November 2024 sales are ...
Full Article...
posted in General
at Wed, 04 Dec 2024 01:57:20 +0000
With active inventories hitting levels not seen in 10 years and sales 30 per cent below the 10-year average, Fraser Valley real estate is building towards a buyer?s market if sales continue to lag.
The Fraser Valley Real Estate Board recorded 982 sales in September, down by eight per cent over August and by more than 10 per cent over September 2023. Again, seasonally adjusted sales were the second slowest in a decade in the Fraser Valley.
"With three rate cuts already and more expected before ...
Full Article...
posted in General
at Fri, 04 Oct 2024 22:06:10 +0000
The Fraser Valley residential resale market slowed again in August, as homebuyers continue to face affordability challenges.
The Fraser Valley Real Estate Board recorded 1,067 sales in August, down by 13 per cent over last month and by 30 per cent over the 10-year seasonal average. August sales were the second slowest seasonally adjusted sales in a decade.
Inventory levels in the Fraser Valley dipped slightly in August with active listings at 8,626, down one per cent from July, but 37 per cent ...
Full Article...
posted in General
at Thu, 05 Sep 2024 14:45:32 +0000
Sluggish seasonally-adjusted sales and a continued rise in inventory has the Fraser Valley market slowly shifting to favour buyers.
The Fraser Valley Real Estate Board recorded 1,230 sales in July, down by seven per cent over last month and down by 26 per cent over the 10-year seasonal average.
Inventory levels in the Fraser Valley reached a 10-year seasonally adjusted high in July with active listings at 8,731, up 5 per cent over June and 41 per cent higher than July 2023.
"Amidst an overall ...
Full Article...
posted in General
at Sat, 03 Aug 2024 22:01:15 +0000
The policy rate cut of 25 basis points by the Bank of Canada on June 5 was not enough to rally home sales in the Fraser Valley last month.
The Fraser Valley Real Estate Board recorded 1,317 sales in June, down by 13 per cent over last month and by more than 30 per cent over both last year and the 10-year seasonal average.
While sales remain soft, inventory continued to build for the sixth straight month to 8,350 active listings. Active listings increased 41 per cent over June 2023 and are the ...
Full Article...
posted in General
at Wed, 03 Jul 2024 23:20:27 +0000
Slower seasonal sales helped build inventory to its highest level since September 2019 in the Fraser Valley in May, creating more balanced market conditions for home buyers and sellers. The increase in supply over the past several months has further contributed to a softening of price growth, which is good news for buyers.
Active listings increased eight per cent from April to May to 7,904 - up 42 per cent over May 2023 and 19 per cent above the 10-year average.
Sales, however, remained ...
posted in General
at Tue, 04 Jun 2024 20:52:27 +0000
Supply of available homes in the Fraser Valley market continued to build last month, however buyers remained relatively hesitant, leading to a cooler resale market in April.
The Fraser Valley Real Estate Board recorded 1,471 transactions on its Multiple Listings Service® (MLS®) in April, up 5 per cent from March, but off by 5 per cent compared to April 2023.
While sales were the third lowest recorded for an April in the last decade, inventory continues to build, reaching levels not seen since ...
Full Article...
posted in General
at Fri, 03 May 2024 00:45:06 +0000
Home buyers in the Fraser Valley have more choice heading into the spring market with inventory levels for March at the highest they've been in the past five years.
However, March sales were slower than anticipated with 1,395 transactions recorded on the Fraser Valley Real Estate Board's Multiple Listings Service® (MLS®), a 13 per cent increase over February, but still 31 per cent below the 10-year average. Sales were the second lowest recorded for a March in a decade. Active listings were ...
posted in General
at Sat, 06 Apr 2024 00:18:11 +0000
Home sales in the Fraser Valley posted a second consecutive bump in February as new listings continue to rise and trend slightly above the 10-year seasonal average.
The Fraser Valley Real Estate Board recorded 1,235 transactions on its Multiple Listing Service® (MLS®) in February, a 32 per cent increase over January but still 21 per cent below the 10-year average for sales in the region. New listings increased to 2,797 in February, up 18 per cent from January and 4 per cent above the 10-year ...
Full Article...
posted in General
at Mon, 04 Mar 2024 23:29:54 +0000
The Fraser Valley real estate market showed signs of recovery in January as home sales rose after six consecutive months of decline, and new listings more than doubled.
The Fraser Valley Real Estate Board recorded 938 transactions on its Multiple Listing Service® (MLS®) in January, a 12 per cent increase over December and below the 10-year average for sales in the region.
At 2,368, new listings increased 151 per cent in January, rebounding strongly from the seasonal lull seen in December. This ...
Full Article...
posted in General
at Fri, 02 Feb 2024 18:51:08 +0000
High interest rates kept a lid on sales and listings in the Fraser Valley in 2023, while holding year-over-year price growth to low single digits.
The Fraser Valley region ended the year with 14,713 sales recorded on its Multiple Listing Service® (MLS®), a decline of four per cent over 2022 and 23 per cent below the 10-year average. New listings in the Fraser Valley were also at a 10-year low, at 29,610, eight per cent below the 10-year average.
The composite Benchmark home price in the Fraser ...
Full Article...
posted in General
at Thu, 04 Jan 2024 19:34:30 +0000
The Fraser Valley real estate market continues to cool heading into the holiday season as buyers and sellers maintain the holding pattern seen over the latter half of this year.
The Fraser Valley Real Estate Board recorded 891 transactions on its Multiple Listing Service® (MLS®) in Novembe, a drop of 8 per cent from the previous month, representing the 9th slowest November in a decade.
At 2,030 new listings also fell again, decreasing by 20 per cent from October and by 43 per cent since peaking ...
Full Article...
posted in General
at Mon, 04 Dec 2023 19:20:38 +0000
Property sales and new listings in the Fraser Valley fell again in October as consumers continued to put home buying and selling decisions on hold in the face of elevated interest rates.
The Fraser Valley Real Estate Board recorded 970 transactions on its Multiple Listing Service® (MLS®) in October, a drop of 12 per cent from the previous month and the fourth consecutive decrease since the 12-month high of 1,935 sales recorded in June.
At 2,535, new listings also fell again, decreasing by 11 ...
Full Article...
posted in General
at Thu, 02 Nov 2023 18:08:58 +0000
Continued slowing sales and a healthy rise in new listings in September has brought the Fraser Valley housing market into balance. Three months of declining sales has seen Benchmark prices dip for a second straight month.
The Fraser Valley Real Estate Board recorded 1,100 sales on its Multiple Listing Service® (MLS®) in September 2023, a decrease of 13.6 per cent compared to August. Sales were up 22.6 per cent compared to September 2022.
New listings rose to 2,860 in September, an increase of ...
Full Article...
posted in General
at Wed, 04 Oct 2023 17:46:16 +0000
A combination of seasonal trends and cautious anticipation of the next rate announcement saw the Fraser Valley real estate market slow in August as sales fell slightly for the second month, after reaching a 15-month high in June.
The Fraser Valley Real Estate Board recorded 1,273 sales on its Multiple Listing Service (MLS®) in August 2023, a decrease of 6.9 per cent compared to July. Sales were up 25.2 per cent compared to August 2022.
New listings dropped to 2,622 in August, a decrease of 8.2 ...
Full Article...
posted in General
at Wed, 06 Sep 2023 15:20:42 +0000
After five months of successive increases, real estate sales in the Fraser Valley dropped in response to a combination of continued rising interest rates and the summer sales cycle.
The Fraser Valley Real Estate Board processed 1,368 sales in July on its Multiple Listing Service® (MLS®), a decrease of 29.3 per cent below June, but still 37.8 per cent above July 2022.
July new listings, at 2,855, were also down by 16.6 per cent compared to last month but 19.7 per cent higher than July 2022 ...
posted in General
at Wed, 02 Aug 2023 19:02:24 +0000
The Fraser Valley real estate market saw strong sales activity in June with levels on par with the 10-year average for the month, amid on-going challenges with supply.
In June, the Fraser Valley Real Estate Board (FVREB) processed 1,935 sales on its Multiple Listing Service® (MLS®), an increase of 51.1 per cent compared to June 2022 and a 13.1 per cent increase compared to May.
"As seen in recent months, prices continue to trend upward, with lack of supply and high demand for housing," said ...
Full Article...
posted in General
at Thu, 06 Jul 2023 21:47:51 +0000
The Fraser Valley real estate market saw an injection of supply in May as new listings surged by more than 40 per cent over April.
At 3,533, new listings were just below May 2022 levels (3,631) but slightly higher (2.7 per cent) than the ten-year average for the region. A welcome trend towards alleviating housing supply issues.
"Typically we would see an influx of inventory earlier in the spring sales cycle," said Narinder Bains, Chair of the Fraser Valley Real Estate Board. "The series of ...
posted in General
at Sat, 03 Jun 2023 01:48:41 +0000
Despite persistent inventory shortfalls, housing sales in the Fraser Valley remained steady in April as buyers took advantage of the continued pause in interest rate hikes.
In April, the Fraser Valley Real Estate Board (FVREB) processed 1,554 sales on its Multiple Listing Service® (MLS®), virtually unchanged compared to March and a slight decrease of 5.1 per cent compared to April 2022.
"Buyers are continuing to find opportunities in the Fraser Valley, even in the face of lower inventories," ...
Full Article...
posted in General
at Tue, 02 May 2023 22:12:08 +0000
March 2023 saw the second consecutive month of growth in sales in the Fraser Valley, and although still below seasonal norms, the trend is an encouraging sign that the region continues to head towards increased market stability.
At 1,550, property sales posted on the FVREB's Multiple Listings Service (MLS®) were 72.6 per cent higher than sales recorded last month. Although 39.9 per cent lower than a year ago and nearly 25 per cent below the ten-year average, it marks the first time since August ...
Full Article...
posted in General
at Wed, 05 Apr 2023 01:00:08 +0000
Bank of Canada Interest Rate Announcement -
March 8, 2023
As signalled in its previous interest rate announcement, The Bank of Canada maintained its overnight rate at 4.5 per cent this morning. In the statement accompanying the decision, the Bank noted that restrictive monetary policy is weighing on demand and it expects weak economic growth for the next couple of quarters. That weak growth should moderate wage growth in a currently tight labour market and ease competitive pressures on prices, ...
Full Article...
posted in General
at Wed, 08 Mar 2023 15:56:10 +0000
House prices in the Fraser Valley posted a slight but positive bump in February after nearly a year of month-over-month decreases. Similarly, sales, though still trending lower than normal, also recorded their first monthly gain since October
The Fraser Valley Real Estate Board (FVREB) processed 898 sales on its Multiple Listing Service® in February, an increase of 43.5 per cent over January but still only half as many as were recorded a year ago.
February new listings were also up, by 5.7 per ...
Full Article...
posted in General
at Sat, 04 Mar 2023 01:46:15 +0000
The downward trend in Fraser Valley real estate sales continued in January as further interest rate hikes kept buyers sidelined.
With 626 transactions processed on the MLS®, sales were off by 12.6 per cent compared to last month and down by 52.2 per cent compared to this time last year. The last time January sales were this low was in 2013 at 617 sales.
"Buyers are understandably cautious, which explains the slow start to the year," said Sandra Benz, President of the Fraser Valley Real Estate ...
Full Article...
posted in General
at Thu, 02 Feb 2023 20:24:26 +0000
In a year that saw prices peak early on, feeding off the momentum of record-breaking sales in 2021, the Fraser Valley real estate market came back down to earth by the close of 2022, due largely to interest rate increases designed to stave off inflation.
The Fraser Valley Real Estate Board (FVREB) processed 716 sales on its Multiple Listing Service® (MLS®) in December 2022, down 14.7 per cent from the previous month and down by 60.4 per cent compared to the same month last year, making it the ...
Full Article...
posted in General
at Thu, 05 Jan 2023 18:43:36 +0000
With sales down almost seven per cent from October, and new listings off by more than 20 per cent, the Fraser Valley housing market continues its slowing trend heading into the holiday season. Despite the market slowdown, opportunities are available, as evidenced by brisk turnover time frames.
In November, the Fraser Valley Real Estate Board (FVREB) processed 839 sales on its Multiple Listing Service® (MLS®), a 6.9 per cent decrease compared to October and a decrease of 57.5 per cent compared ...
Full Article...
posted in General
at Fri, 02 Dec 2022 19:13:18 +0000
Fraser Valley housing market sales for October remained relatively unchanged from last month as prices dipped slightly across all categories.
In October, the Fraser Valley Real Estate Board (FVREB) processed 901 sales on its Multiple Listing Service® (MLS®), an increase of 0.4 per cent compared to last month and a 53.5 per cent decrease compared to this time last year.
The Board received 2,186 new listings in October, a decrease of 3.8 per cent compared to September, and on par with October ...
Full Article...
posted in General
at Wed, 02 Nov 2022 22:43:59 +0000
Continued slowing sales and a slight rise in inventory in September combined to bring greater stability to the Fraser Valley housing market.
In September, the Fraser Valley Real Estate Board (FVREB) processed 897 sales on its Multiple Listing Service® (MLS®), a decrease of 11.8 per cent compared to last month and a 51.9 per cent decrease compared to this time last year.
The Board received 2,273 new listings in September, an increase of 11.1 per cent compared to August, and only 2.9 per cent ...
Full Article...
posted in General
at Tue, 04 Oct 2022 22:28:27 +0000
Robust active listings and relative steady sales activity continued to bring balance to the Fraser Valley real estate market in August. The past several months of rising inventory combined with a slowing trend in sales has also seen benchmark prices return to levels not seen since last year.
In August, the Fraser Valley Real Estate Board (FVREB) processed 1,017 sales on its Multiple Listing Service® (MLS®), an increase of 2.4 per cent compared to last month and a 51.3 per cent decrease compared ...
Full Article...
posted in General
at Fri, 02 Sep 2022 20:46:58 +0000
NEWLY RELEASED end of July 2022 local Real Estate Market Statistics.
Simple & quick 1 minute 23 second video of what is going on locally right now in the Fraser Valley Real Estate Market.
Call me at 604-720-7472 if you need any help understanding the statistics and determining the value of your home or a home you may be interested in purchasing.
I'm here to help!
https://youtu.be/l53PW-K4SBk
posted in General
at Sat, 06 Aug 2022 19:12:45 +0000
The Fraser Valley real estate market saw sales fall again in July in the face of continued interest rate hikes, as the government struggles to bring inflation under control.
In July, the Fraser Valley Real Estate Board (FVREB) processed 993 sales on its Multiple Listing Service® (MLS®), a decrease of 22.5 per cent from the previous month and a 50.5 per cent drop compared to July 2021, when the province was still in acute pandemic mode. July new listings totaled 2,385, a 28.4 per cent decrease ...
Full Article...
posted in General
at Fri, 05 Aug 2022 09:57:46 +0000
Overall sales in the Fraser Valley fell for the third straight month as prices for all property types continued to soften, bringing greater balance to the region's real estate market.
In June, the Board processed 1,281 sales on its Multiple Listing Service® (MLS®), a decrease of 5.8 per cent compared to May and a 43 per cent decrease compared to June of last year.
Sandra Benz, President of the Board, said, "In just two months our market overall has shifted into balance mainly due to a ...
posted in General
at Tue, 05 Jul 2022 19:21:16 +0000
As property sales continue to fall in the Fraser Valley and active listings continue to grow, the region is edging towards more balanced levels not seen since the pre-pandemic period.
Sales of all property types in May were 1,360, down 16.9 per cent from April's 1,637; and down 53.9 per cent compared to May of 2021.
At the same time, active listings (the number of properties available for sale at a given moment during the month, in this case at the end of May) have more than tripled since ...
posted in General
at Thu, 02 Jun 2022 22:32:13 +0000
As Property sales in the Fraser Valley decreased by over 35 per cent in April 2022 compared to the previous month, and while the figure is still the sixth-highest April on record for the past ten years, it marks the first time monthly sales have fallen below the ten-year average since June 2020.
In April, the Fraser Valley Real Estate Board (FVREB) processed 1,637 sales on its Multiple Listing Service® (MLS®), a decrease of 45.7 per cent compared to April 2021 and a 36.6 per cent decrease ...
posted in General
at Tue, 03 May 2022 19:53:42 +0000
For the third consecutive month, new listings in the Fraser Valley continued to climb in March giving buyers more to choose from, helping to increase overall active inventory to levels not seen since last July.
Property sales remain robust, as Benchmark prices, the price of a 'typical' home, continued to increase month-over-month.
In March, the FVREB processed 2,580 residential and commercial sales on its Multiple Listing Service® (MLS®), a decrease of 22.5 per cent compared to March 2021 and ...
Full Article...
posted in General
at Wed, 06 Apr 2022 23:35:26 +0000
Buyers of Fraser Valley real estate had significantly more inventory to choose from last month due to a record-breaking volume of new listings received for the month of February.
The Fraser Valley Real Estate Board (FVREB) received 3,742 new listings in February, an increase of 75.3 per cent compared to January, and an increase of 14.6 per cent compared to February of last year. The previous highest February for new listings was 3,283 in 2016.
The FVREB processed a total of 1,824 sales ...
Full Article...
posted in General
at Wed, 02 Mar 2022 18:51:40 +0000
On the heels of the busiest year in history for Fraser Valley real estate, January activity saw the beginnings of a market rebalancing. Overall property sales - still the third highest ever for January - cooled compared to December while the volume of new listings improved significantly.
The Fraser Valley Real Estate Board processed a total of 1,310 sales of all property types on its Multiple Listing Service®(MLS®) in January 2022, a decrease of 23.7 per cent compared to January 2021, and ...
Full Article...
posted in General
at Wed, 02 Feb 2022 22:29:48 +0000
Fueled by the consumer response to the COVID-19 pandemic along with historically low interest rates, total property sales in the Fraser Valley in 2021 shattered the previous annual record last set in 2016.
The FVREB processed 27,692 sales its Multiple Listing Service® (MLS®) in 2021, an increase of 39.0 per cent compared 19,926 sales in 2020; and 15.5 per cent higher than 2016's 23,974 sales.
Larry Anderson, President of the Board, said, "No one could have predicted how the pandemic would ...
posted in General
at Wed, 05 Jan 2022 23:57:46 +0000
Robust demand for Fraser Valley real estate continued in November, with the Fraser Valley Real Estate Board (FVREB) recording the region's second-highest volume of sales of all property types for the month - second only to November 2020.
In November, the FVREB processed 1,972 sales of all property types on its Multiple Listing Service® (MLS®), a decrease of 9.2 per cent compared to the 2,173 sales in November of last year, and a 1.8 per cent increase month-over-month compared to the 1,938 sales ...
Full Article...
posted in General
at Thu, 02 Dec 2021 21:32:53 +0000
As Demand for Fraser Valley real estate remained solid in October with overall sales the third highest on record.
The Board processed a total of 1,938 property sales on its Multiple Listing Service® (MLS®) in October, an increase of 3.9 per cent compared to September and a decrease of 18.2 per cent compared to the same month last year.
Larry Anderson, President of the Board, said. "What we're seeing is a combination of above-average sales with below-average new listings which is placing strong ...
Full Article...
posted in General
at Tue, 02 Nov 2021 17:49:43 +0000
Market activity in the Fraser Valley - both sales and new listings - softened in July, however buyers continued to significantly outnumber sellers resulting in inventory reaching the lowest for the month since 1981.
The Board processed a total of 2,006 property sales on its Multiple Listing Service® (MLS®) in July, a decrease of 11 per cent compared to June and a 4.5 per cent decrease compared to the same month last year. Sales continued to remain above normal for July - 15 per cent above the ...
Full Article...
posted in General
at Wed, 04 Aug 2021 21:28:14 +0000
SURREY, BC - Fraser Valley's extraordinary pandemic real estate market continued to break sales records - for the ninth consecutive month - while at the same time, reaching near-historic levels of new listings in May.
In May, the Fraser Valley Real Estate Board (FVREB) processed 2,951 sales on its Multiple Listing Service® (MLS®), an increase of 267 per cent compared to May 2020 and a 2 per cent decrease compared to April. (Note that last year, the market was significantly restricted due to ...
Full Article...
posted in General
at Wed, 02 Jun 2021 17:22:23 +0000
For the eighth consecutive month, Fraser Valley real estate saw record-breaking sales with April topping the previous monthly high set in 2016. The 2020/2021 pandemic seller's market in the Fraser Valley has now surpassed the previous longest stretch of seven consecutive, record-breaking months, last set in 2015/2016.
In April, the Fraser Valley Real Estate Board (FVREB) processed 3,016 sales on its Multiple Listing Service® (MLS®), an increase of 338 per cent compared to April 2020 and a 9 per ...
Full Article...
posted in General
at Tue, 04 May 2021 19:41:57 +0000
Fraser Valley real estate hit two historical highs in March, setting records for both sales and new listings processed in one month since the Fraser Valley Real Estate Board's (FVREB) inception in 1921.
In March, the FVREB processed 3,329 residential and commercial sales on its Multiple Listing Service® (MLS®), an increase of 131 per cent compared to March 2020 and 18 per cent more than were processed in February. The previous record of 3,006 sales was set in March of 2016.
Larry Anderson, ...
posted in General
at Tue, 06 Apr 2021 18:50:35 +0000
For the sixth consecutive month, Fraser Valley's real estate market experienced property sales at levels never seen before in the 100-year history of the Fraser Valley Real Estate Board (FVREB).
In February, the FVREB processed a total of 2,815 sales on its Multiple Listing Service® (MLS®), an increase of 108 per cent compared to February 2020 and 64 per cent more than were processed in January 2021. To provide a historical perspective, sales in February were 88 per cent above the 10-year ...
posted in General
at Tue, 02 Mar 2021 21:39:51 +0000
In a year when the real estate market was at a standstill for months due to COVID-19, total annual sales in the Fraser Valley still finished 12.4 per cent above the 10-year average due to unrelenting, pent-up consumer demand during the second half of 2020.
In December, the Board's Multiple Listing Service® (MLS®) processed a staggering 2,086 sales, the strongest December on record and 81.2 per cent above normal for the month. New listings in December, were the second highest on record at 1,502. ...
Full Article...
posted in General
at Wed, 06 Jan 2021 00:45:56 +0000
November 2020 Fraser Valley Real Estate Market.
Simple quick 1 minute 18 second video of what is going on locally in the Real Estate Market in the Fraser Valley area right now. It's called the Market Speedo!
https://youtu.be/Ee8O4lzVnBk
posted in General
at Sat, 05 Dec 2020 00:29:21 +0000
For the fifth consecutive month, demand for real estate in the Fraser Valley showed no signs of waning. Overall property sales for the month of November again set a new Board record. Sales records were also broken in September and October; and since July, all activity including new listings, has continued to be inordinately high.
The Fraser Valley Real Estate Board processed 2,173 sales of all property types on its Multiple Listing Service® (MLS®) in November, an increase of 54.7 per cent ...
posted in General
at Wed, 02 Dec 2020 23:57:07 +0000
Ongoing demand for Fraser Valley real estate saw overall sales reach the highest point for the month of October in the Board's history. This is the fourth consecutive month of record-breaking or near-record activity for sales and new listings in the region.
The Fraser Valley Real Estate Board processed 2,370 sales of all property types on its Multiple Listing Service® (MLS®) in October, an increase of 48.9 per cent compared to the 1,592 sales in October of last year, and an 6.2 per cent ...
posted in General
at Tue, 03 Nov 2020 18:30:52 +0000
SURREY, BC - The Fraser Valley Real Estate Board's Multiple Listing Service® (MLS®) saw the second highest number of property sales and the highest number of new listings in August within the last two decades, when 2,298 sales were recorded in August 2005.
The FVREB processed a total of 2,039 sales in August, a decrease of 2.9 per cent compared to sales in July, but an increase of 57.2 per cent compared to the 1,297 sales during August of last year. Last month's sales were 39 per cent above the ...
Full Article...
posted in General
at Thu, 03 Sep 2020 18:53:32 +0000
Simple quick 1 minute 17 second video of what is going on locally in the Real Estate market in the Greater Vancouver area. It's called the Market Speedo.
https://www.youtube.com/watch?v=xSSYEyP98CM&feature=youtu.be
posted in General
at Mon, 10 Aug 2020 14:57:21 +0000
Simple quick 1 minute 17 second video of what is going on locally in the Real Estate market in the Fraser Valley. It's called the Market Speedo.
https://youtu.be/gTGJd8MaUb8
posted in General
at Fri, 07 Aug 2020 14:38:37 +0000
The Fraser Valley Real Estate Board's Multiple Listing Service® (MLS®) saw the second-highest number of both property sales and new listings ever recorded in July.
The FVREB processed a total of 2,100 sales in July, an increase of 22.2 per cent compared to sales in June and an increase of 44 per cent compared to the 1,458 sales during July of last year. Last month's sales were 25.5 per cent above the ten-year average for July and second only to July 2015.
Chris Shields, President of the Board, ...
Full Article...
posted in General
at Thu, 06 Aug 2020 16:10:06 +0000
SURREY, BC - The Fraser Valley real estate market saw a resurgence in activity in June as the industry and consumers continue to successfully adapt to doing business during a pandemic.
The Fraser Valley Real Estate Board (FVREB) processed a total of 1,718 sales on its Multiple Listing Service® (MLS®) in June, an increase of 113.4 per cent compared to sales in May and an increase of 31.5 per cent compared to the 1,306 sales during June of last year. Last month's sales were 6.4 per cent below the ...
Full Article...
posted in General
at Fri, 03 Jul 2020 21:28:09 +0000
Vancouver, BC - June 10, 2020. The British Columbia Real Estate Association (BCREA) released its 2020 Second Quarter Housing Forecast today. Multiple Listing Service® (MLS®) residential sales in the province are forecast to decline 21 per cent to approximately 61,000 units this year, after recording 77,347 residential sales in 2019. MLS® residential sales are forecast to increase 45.3 per cent to 88,500 units in 2021."The bright outlook for 2020 home sales has been upended by the COVID-19 ...
posted in General
at Wed, 10 Jun 2020 21:16:09 +0000
If you are concerned about the new CMHC rules and your qualifying criteria contact me and I can help. The important thing to keep in mind here is the new rules will take effect July 1, 2020. If you can find a home and make an offer and it is Accepted & Approved before July 1, 2020 then you can get in under the wire. Contact me if you are concerned as I'm here to help! 604-720-7472
posted in General
at Mon, 08 Jun 2020 20:33:54 +0000
SURREY, BC - In May, Fraser Valley listings and property sales started to bounce back as REALTORS® helped their clients adjust to the new, necessary safety measures required to buy and sell a home during the provincial state of emergency due to COVID-19.
The Fraser Valley Real Estate Board (FVREB) processed a total of 805 sales on its Multiple Listing Service® (MLS®) in May, an increase of 17 per cent compared to sales in April and a decrease of 47 per cent compared to the 1,517 sales during ...
Full Article...
posted in General
at Tue, 02 Jun 2020 22:15:05 +0000
I hope you and your family are staying healthy and safe and taking good care of yourselves.With the Covid-19 pandemic, you may have some questions regarding property values, current housing sales, how we as Realtors have adapted to assist our clients as well as the future of the housing market. While I may not have all of the answers, I would be happy to answer any questions and share my knowledge of the current market or answer any other questions you may have. Please do not hesitate to give ...
Full Article...
posted in General
at Fri, 22 May 2020 23:03:14 +0000
SURREY, BC - As anticipated, real estate activity saw a steep decline last month in response to the pandemic lockdown, resulting in one of the slowest Aprils in Fraser Valley history.
The Fraser Valley Real Estate Board (FVREB) processed a total of 688 sales on its Multiple Listing Service® (MLS®) in April, a decrease of 52 per cent compared to sales in March and a decrease of 50 per cent compared to April of last year. According to FVREB historical data, last month's sales were on par with ...
Full Article...
posted in General
at Mon, 04 May 2020 21:17:53 +0000
SURREY, BC - The most up to date Multiple Listing Service® (MLS®) data from the Fraser Valley Real Estate Board (FVREB) indicates COVID-19 has put the market on pause, as REALTORS® and the public adhere to health authority rules and government guidelines on the pandemic.
By the end of March, the FVREB processed a total of 1,441 sales on its MLS®, a 7 per cent increase compared to sales in February 2020, and an 18 per cent increase compared to the 1,221 sales in March 2019. During the first ...
posted in General
at Thu, 02 Apr 2020 23:31:25 +0000
In February, property sales in the Fraser Valley finished slightly above the 10-year average for the month, while new listings came in 3 per cent below, keeping overall inventory at historically below-average levels.
The Fraser Valley Real Estate Board processed 1,352 sales of all property types on its Multiple Listing Service® (MLS®) in February, a 39 per cent increase compared to sales in January 2020, and a 38 per cent increase compared to the 982 sales in February of last year.
Of the 1,352 ...
Full Article...
posted in General
at Wed, 04 Mar 2020 19:52:07 +0000
After a sluggish first half of the year, property sales in the Fraser Valley started picking up speed in the summer and finished strong in December, but not enough to surpass last year's sales totals.
The Board's Multiple Listing Service® (MLS®) processed 15,487 sales in 2019, a 0.6 per cent decrease compared to 2018's 15,586 sales and the lowest total sales volume for the Fraser Valley since 2013. The total dollar volume of MLS® transactions for the year was $11.2 billion, dropping from $11.8 ...
Full Article...
posted in General
at Fri, 03 Jan 2020 20:28:49 +0000
A combination of unseasonably high demand and declining supply reinforced Fraser Valley's real estate market in November.
The Fraser Valley Real Estate Board processed 1,405 sales of all property types on its Multiple Listing Service® (MLS®) in November, an 11.7 per cent decrease compared to sales in October 2019, and a 36.7 per cent increase compared to the 1,028 sales in November of last year.
Darin Germyn, President of the Board, says, "Some listings are seeing a lot of activity depending ...
Full Article...
posted in General
at Tue, 03 Dec 2019 23:34:11 +0000
SURREY, BC - The demand for Fraser Valley real estate is the strongest it's been since the spring of 2018.
The Fraser Valley Real Estate Board processed 1,592 sales of all property types on its Multiple Listing Service® (MLS®) in October, a 18.5 per cent increase compared to sales in September 2019, and a 37.8 per cent increase compared to the 1,155 sales in October of last year.
Darin Germyn, President of the Board, says, "Our market started to pick up in the summer and we've been steadily ...
Full Article...
posted in General
at Mon, 04 Nov 2019 21:07:26 +0000
SURREY, BC - For the third straight month, home sales in the Fraser Valley surpassed 2018 levels bringing the market back in line with long-term averages.
The Fraser Valley Real Estate Board processed 1,343 sales of all property types on its Multiple Listing Service® (MLS®) in September, a 3.5 per cent increase compared to sales in August 2019, and a 29.8 per cent increase compared to the 1,035 sales in September of last year.
Darin Germyn, President of the Board, says, "The market's return to ...
Full Article...
posted in General
at Wed, 02 Oct 2019 18:28:00 +0000
REBGV October Press Release.
Increased demand helps housing market reach balanced territory.
Home buyer demand has returned to more historically typical levels in Metro Vancouver over the last three months.
The Real Estate Board of Greater Vancouver (REBGV) reports that residential home sales in the region totalled 2,333 in September 2019, a 46.3 per cent increase from the 1,595 sales recorded in September 2018, and a 4.6 per cent increase from the 2,231 homes sold in August ...
posted in General
at Wed, 02 Oct 2019 17:00:45 +0000
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 ...
Full Article...
posted in General
at Thu, 05 Sep 2019 03:37:50 +0000
SURREY, BC - A noticeable lift in home sales and slight decrease in new listings bolstered the Fraser Valley housing market in July.
The Fraser Valley Real Estate Board processed 1,458 sales of all property types on its Multiple Listing Service® (MLS®) in July, a 11.6 per cent increase compared to sales in June 2019, and a 13 per cent increase compared to the 1,290 sales in July of last year.
Chris Shields, President-Elect of the Board, observed, "We've been expecting market improvement, but ...
Full Article...
posted in General
at Wed, 07 Aug 2019 00:05:31 +0000
Last month's property sales in the Fraser Valley were 29.3 per cent below the 10-year sales average for June and were the second lowest total for the month since the year 2000. The number of new listings also decreased in June, coming in at 9.6 per cent below the 10-year average for the number of listings received during that month.
The Fraser Valley Real Estate Board processed 1,306 sales of all property types on its Multiple Listing Service® (MLS®) in June, a 13.9 per cent decrease compared ...
Full Article...
posted in General
at Fri, 05 Jul 2019 19:18:52 +0000
The increase in home sales in the Fraser Valley in May compared to April is thanks to renewed interest in single family detached homes. Although total market activity remained well below historical norms - 18 per cent below the 10-year average - the sale of detached homes increased by 14.9 per cent in one month.
The Fraser Valley Real Estate Board processed 1,517 sales of all property types on its Multiple Listing Service® (MLS®) in May, a 9.7 per cent increase compared to sales in April ...
posted in General
at Thu, 06 Jun 2019 00:21:15 +0000
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 ...
Full Article...
posted in General
at Fri, 03 May 2019 16:51:17 +0000
SURREY, BC - Last month, buyers in the Fraser Valley took advantage of the continued stability in home prices and the highest inventory levels for March since 2015.
The Fraser Valley Real Estate Board processed 1,221 sales of all property types on its Multiple Listing Service® (MLS®) in March, a 24.3 per cent increase compared to sales in February 2019, and a 26.6 per cent decrease compared to the 1,664 sales in March of last year. Of the 1,221 total sales, 462 were residential detached homes, ...
Full Article...
posted in General
at Wed, 03 Apr 2019 15:57:59 +0000
SURREY, BC - Coming off a mild January, the Fraser Valley real estate market saw an increase in sales activity and overall inventory in February along with decreased prices in several of its communities.
The Fraser Valley Real Estate Board processed 982 sales of all property types on its Multiple Listing Service® (MLS®) in February, a 25.3 per cent increase compared to sales in January 2019, and a 29.1 per cent decrease compared to the 1,385 sales in February of last year. Of the 982 total ...
posted in General
at Mon, 04 Mar 2019 20:20:19 +0000
Overall inventory levels continued to recover as market activity remained moderate through January.
The Fraser Valley Real Estate Board processed 784 sales of all property types on its Multiple Listing Service® (MLS®) in January, a 2 per cent decrease compared to sales in December 2018, and a 35.2 per cent decrease compared to the 1,210 sales in January of last year.
Of the 784 total sales, 250 were residential detached homes, 190 were townhouses, and 257 were apartments. This is the first time ...
Full Article...
posted in General
at Wed, 06 Feb 2019 18:39:15 +0000
After three consecutive years of total annual sales surpassing 20,000 units, 2018 saw the Fraser Valley real estate market return to more typical levels for both sales and inventory. The Board's Multiple Listing Service® (MLS®) processed 15,586 sales in 2018, a 30.2 per cent decrease compared to 2017's 22,338 sales and the lowest total sales for the Fraser Valley since 2013. The total dollar volume of MLS® transactions for the year was $11.8 billion, dropping from $15.7 billion sold during the ...
Full Article...
posted in General
at Tue, 08 Jan 2019 19:07:34 +0000
Despite November's market continuing at a slower pace and dropping compared to all-time highs in 2017, sales and inventory levels for the month were on par with historical averages for this time of year.
The Fraser Valley Real Estate Board processed 1,028 sales of all property types on its Multiple Listing Service® (MLS®) in November, a decrease of 41 per cent compared to the 1,743 sales in November of last year, and a 11 per cent decrease compared to sales in October 2018.
Of the 1,028 total ...
Full Article...
posted in General
at Tue, 04 Dec 2018 19:32:53 +0000
The Fraser Valley housing market saw slight increases in both total transactions and overall inventory this month after sales hit their lowest point for the year in September.
The Fraser Valley Real Estate Board processed 1,155 sales of all property types on its Multiple Listing Service® (MLS®) in October, a decrease of 35.8 per cent compared to the 1,779 sales in October of last year, and a 11.6 per cent increase compared to sales in September 2018.
Of the 1,155 sales, 438 were residential ...
Full Article...
posted in General
at Fri, 02 Nov 2018 19:50:29 +0000
The slowing of sales activity and expansion of overall inventory that has defined much of 2018 for the Fraser Valley housing market continued in September, with sales at their lowest point and inventory at its highest for the year.
The Fraser Valley Real Estate Board processed 1,035 sales of all property types on its Multiple Listing Service® (MLS®) in September, a decrease of 36.1 per cent compared to the 1,619 sales in September of last year, and a 10.4 per cent decrease compared to sales in ...
Full Article...
posted in General
at Wed, 03 Oct 2018 18:52:43 +0000
Market activity declined further in August with sales dropping to their lowest level this year.
The Fraser Valley Real Estate Board processed 1,155 sales of all property types on its Multiple Listing Service® (MLS®) in August, a decrease of 38.5 per cent compared to the 1,879 sales in August of last year, and a 10.5 per cent decrease compared to the 1,290 sales in July 2018.
Sales of attached homes continued to represent over fifty per cent of all activity in the Fraser Valley this month, with ...
Full Article...
posted in General
at Fri, 07 Sep 2018 17:06:51 +0000
Overall housing supply continued to grow in July as sales dropped to their lowest point this year since January.
The Fraser Valley Real Estate Board processed 1,290 sales of all property types on its Multiple Listing Service® (MLS®) in July, a decrease of 33.4 per cent compared to the 1,937 sales in July of last year, and a 11.2 per cent decrease compared to the 1,452 sales in June 2018.
Of the 1,290 sales processed last month 346 were townhouses and 337 were apartments, together representing ...
Full Article...
posted in General
at Thu, 02 Aug 2018 20:26:33 +0000
The Fraser Valley housing market kicked-off summer with a further increase to overall inventory and a downturn in sales across all major residential property types.
The Fraser Valley Real Estate Board processed 1,452 sales of all property types on its Multiple Listing Service® (MLS®) in June, a decrease of 43.5 per cent compared to the 2,571 sales in June of last year, and a 17.4 per cent decrease compared to the 1,758 sales in May 2018.
Of the 1,452 sales processed last month 364 were ...
posted in General
at Wed, 18 Jul 2018 17:42:15 +0000
Buyer activity in the Fraser Valley stayed coy throughout April despite a bump in inventory across all three major residential types.
The Fraser Valley Real Estate Board processed 1,708 sales of all property types on its Multiple Listing Service® (MLS®) in April, a decrease of 23.4 per cent compared to the 2,230 sales in April of last year, and a 2.6 per cent increase compared to the 1,664 sales in March 2018.
Of the 1,708 sales processed last month 413 were townhouses and 498 were apartments, ...
Full Article...
posted in General
at Wed, 02 May 2018 18:10:49 +0000
While sales reached slightly above the ten-year average for the month, a lack of sufficient inventory in the Fraser Valley continued to put pressure on homebuyers in March.
The Fraser Valley Real Estate Board processed 1,664 sales of all property types on its Multiple Listing Service® (MLS®) in March, a decrease of 24.8 per cent compared to the 2,213 sales in March of last year, and a 20.1 per cent increase compared to the 1,385 sales in February 2018. The ten-year average for sales in the ...
posted in General
at Thu, 05 Apr 2018 17:34:44 +0000
Despite slight increases to both active and new inventory in the Valley, overall supply in February remained well below the ten-year average for the month historically.
The Fraser Valley Real Estate Board processed 1,385 sales of all property types on its Multiple Listing Service (MLS) in February, a decrease of 0.8 per cent compared to the 1,396 sales in February of last year, and a 14.5 per cent increase compared to the 1,210 sales in January 2018.
Of the 1,385 sales processed last month 336 ...
Full Article...
posted in General
at Sat, 03 Mar 2018 00:34:56 +0000
On behalf of Fraser Valley's 3,500-plus REALTORS, the Fraser Valley Real Estate Board (FVREB) has donated a total of $25,000 to seven food banks across its regional area.
"Fraser Valley Realtors are honoured to once again support our local food banks," said Gopal Sahota, President of the FVREB. "Through their ongoing efforts, these seven organizations provide incalculable support to families and individuals in our communities."
This is the seventh year Fraser Valley Realtors have donated to ...
Full Article...
posted in General
at Fri, 16 Feb 2018 20:46:45 +0000
Fraser Valley housing market activity in January continued on the momentum seen throughout 2017 with year-over-year increases seen for both sales and pricing.
The Fraser Valley Real Estate Board processed 1,210 sales of all property types on its Multiple Listing Service® (MLS®) in January, an increase of 24 per cent compared to the 976 sales in January of last year, and a 10 per cent decrease compared to the 1,344 sales in December 2017. This was the third highest sales total for a January in ...
Full Article...
posted in General
at Thu, 08 Feb 2018 19:49:05 +0000
Demand for Fraser Valley properties persisted through November, once again bolstered by strong attached sales across the region.
The Fraser Valley Real Estate Board processed 1,743 sales of all property types on its Multiple Listing Service® (MLS®) in November, an increase of 39.8 per cent compared to the 1,247 sales in November of last year, and a 3.1 per cent decrease compared to the 1,799 sales in October 2017. This will mark the second highest sales total for a November in the Board's ...
posted in General
at Wed, 06 Dec 2017 19:51:11 +0000
Ongoing demand for properties in the Fraser Valley saw overall sales reach the second highest point for an October in the Board's history.
The Fraser Valley Real Estate Board processed 1,799 sales of all property types on its Multiple Listing Service® (MLS®) in October, an increase of 23 per cent compared to the 1,463 sales in October of last year, and an 11.1 per cent increase compared to the 1,619 sales in September 2017.
Attached sales represented 56% of all market activity for the month, ...
Full Article...
posted in General
at Thu, 02 Nov 2017 19:32:24 +0000
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.As per the Fraser Valley Real estate Board.
posted in General
at Fri, 04 Aug 2017 19:15:56 +0000
The Fraser Valley saw a much-needed increase to new housing inventory entering the market in May, supporting growing demand for residential properties in the region. Last month marked the highest level of sales for the Fraser Valley since June of last year, and the second-highest level for a May historically.
The Fraser Valley Real Estate Board processed 2,707 sales of all property types on its Multiple Listing Service® (MLS®) in May, a decrease of 7 per cent compared to the 2,911 sales in May ...
Full Article...
posted in General
at Wed, 07 Jun 2017 22:25:31 +0000
The Fraser Valley real estate market continued to show strength in April, reaching the highest sales level for the region in the past ten months.
The Fraser Valley Real Estate Board processed 2,230 sales of all property types on its Multiple Listing Service® (MLS®) in April, a decrease of 24.9 per cent compared to the 2,969 sales this time last year and a 0.8 per cent increase compared to the 2,213 sales in March 2017.
Of the 2,230 sales processed in April, 438 were townhouses and 567 were ...
posted in General
at Wed, 03 May 2017 04:02:53 +0000
Propelled by significant activity in attached categories, March housing sales in the Fraser Valley reached their second highest point in ten years, trailing only last year's extraordinary market levels.
The Fraser Valley Real Estate Board processed 2,213 sales of all property types on its Multiple Listing Service® (MLS®) in March, a decrease of 26.4 per cent compared to the 3,006 sales in March of last year, and a 58.5 per cent increase compared to the 1,396 sales in February 2017.
Of the 2,213 ...
Full Article...
posted in General
at Wed, 05 Apr 2017 17:10:30 +0000
"While the pace of the market has returned to more normal levels, pricing is still heavily impacted by the activity and demand seen throughout 2016. Understandably, this can create a challenging environment for consumers. If you're struggling finding the right home or buyer, talk to a REALTOR® who can help guide you towards success in the market."
For the Fraser Valley region, the average number of days to sell a single family detached home in February 2017 was 38 days, compared to 21 days in ...
Full Article...
posted in General
at Thu, 16 Mar 2017 23:54:15 +0000
The Fraser Valley housing market returned to more typical levels in February, with sales and new listing intake on-par with the 10-year average for the month.
The Fraser Valley Real Estate Board processed 1,396 sales of all property types on its Multiple Listing Service® (MLS®) in February, a decrease of 41.5 per cent compared to the record-breaking 2,387 sales in February of last year, and a 43 per cent increase compared to the 976 sales in January 2017. The 10-year average for February sales ...
Full Article...
posted in General
at Thu, 02 Mar 2017 18:51:22 +0000
Surrey, BC - On behalf of Fraser Valley's 3,200-plus REALTORS®, the Fraser Valley Real Estate Board (FVREB) has donated $32,500 to five food banks across its regional area.
"Fraser Valley Realtors are honoured to once again support local food banks and the incredible work they do for our communities," said Charles Wiebe, President of the FVREB.
posted in General
at Fri, 10 Feb 2017 18:43:58 +0000
Fraser Valley real estate kicked-off the New Year strong with sales reaching above the ten-year average for January, and a healthy intake of new inventory.
The Fraser Valley Real Estate Board processed 976 sales of all property types on its Multiple Listing Service® (MLS®) in January, a decrease of 27.1 per cent compared to the 1,338 sales in January of last year, and a 1 per cent increase compared to the 966 sales in December 2016.
Of the 976 sales processed last month, 212 were townhouses and ...
Full Article...
posted in General
at Thu, 02 Feb 2017 19:43:59 +0000
Fraser Valley real estate experienced the strongest year in its history in 2016, with record-setting numbers seen in both total MLS® transactions and overall dollar volume sold.
The Board's Multiple Listing Service® (MLS®) processed 23,974 sales in 2016, 13.6 per cent more than the 21,095 sales in 2015, and 12.6 per cent more than the previous record of 21,282 sales in 2005. The total dollar volume of MLS® sales was a record setting $16.2 billion, four billion more than the previous record set ...
Full Article...
posted in General
at Thu, 12 Jan 2017 17:03:41 +0000
Sales and listing activity in the Fraser Valley decreased once again month-over-month, returning to typical levels for the month of November.
The Fraser Valley Real Estate Board processed 1,247 sales of all property types on its Multiple Listing Service® (MLS®) in November, a decrease of 29.4 per cent compared to November 2015's 1,766 sales, and a 14.8 per cent decrease compared to the 1,463 sales in October 2016. Of the sales processed last month, 291 were townhouses and 348 were apartments, ...
Full Article...
posted in General
at Sat, 03 Dec 2016 20:00:47 +0000
The Fraser Valley real estate market remained active through October, with sales breaking slightly higher than the 10-year historical average for the month.
The Fraser Valley Real Estate Board processed 1,463 sales of all property types on its Multiple Listing Service® (MLS®) in October, a decrease of 17.4 per cent compared to the 1,772 sales in October of last year, and a 12.1 per cent increase compared to the 1,305 sales in September 2016.
Of the 1,463 sales processed last month, 389 were ...
Full Article...
posted in General
at Thu, 10 Nov 2016 17:38:33 +0000
Fraser Valley REALTORS® voted in support of a plan that will transfer a valuable asset owned by their professional association, the Fraser Valley Real Estate Board (FVREB), into a new charitable foundation dedicated to helping those in need in the Fraser Valley.
The asset is 3.5 acres of prime, vacant land situated behind FVREB?s existing office in Guildford, Surrey. In 1969, the land was purchased privately by five visionary past presidents of the Board who sold it to the Board a few years ...
Full Article...
posted in General
at Mon, 17 Oct 2016 21:22:43 +0000
Just signed up for the Peace Arch Hospital Foundation Realtor Challenge to help raise money for the Peace Arch Hospital ER redevelopment and expansion. For the next 12 months I will donate a portion of my Real Estate Commissions for every real estate deal I am involved in.
posted in General
at Fri, 14 Oct 2016 18:32:06 +0000