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The Fraser Valley Real Estate Board is an association of more than 2,800 real estate professionals who live and work in the communities of North Delta, Surrey, White Rock, Langley, Abbotsford, and Mission.

FVREB NEWS

Strongest June in four years for Fraser Valley real estate market

SURREY, BC The Fraser Valley Real Estate Boards Multiple Listing Service (MLS) processed 1,668 sales in June, an increase of 26 per cent compared to the 1,327 sales in June of last year and 2 per cent higher than sales in May. In terms of historical comparison, last months sales finished 7 per cent below the 10-year average for June with the previous best June occurring in 2010.

Ray Werger, President of the Board, says, Recent news reports indicate that consumer optimism about real estate is at its highest level in a number of years and were experiencing that at the ground level.

Over the last three months, weve seen a surge in demand specifically for single family homes and townhomes in most of our communities. Our number one buyer is families with children and theyre taking advantage of ultra-low interest rates combined with more affordable, stable prices in the Fraser Valley.



Market strength solidifies in the Fraser Valley

SURREY, BC Mays property sales in the Fraser Valley reached the highest theyve been in seven years with the Fraser Valley Real Estate Board posting 1,633 sales on its Multiple Listing Service (MLS), an increase of 18 per cent compared to May 2013 and 11 per cent more than in April.

Previous record-setting Mays were in the mid-2000s during the market peak, with last months sales coming in just below the 10-year average.

Ray Werger, President of the Board, says, For the second month in a row, were experiencing healthy sales volumes with the most popular choice being single family detached homes followed by townhouses. For single family homes, that market is at the upper-end of a balanced market with certain areas in a sellers market where over 30 per cent of available inventory is selling.



Balanced market conditions in the Fraser Valley

SURREY, BC The growth in sales on Fraser Valleys Multiple Listing Service (MLS) outpaced the growth in new inventory in April, propelling the market into solid balanced conditions.

In April, the Fraser Valley Real Estate Boards total sales volume increased by 8 per cent year over year and 17 per cent compared to March while new listings saw a 7 per cent increase compared to April 2013 and a 13 per cent increase compared to the previous month.

Ray Werger, president of the Board, says, Theres a lot of optimism right now. It will take a few more months of numbers, but our 2014 market is already on track to outperform last year.



Buyers see value in single family detached homes in the Fraser Valley

SURREY, BC In March, the Fraser Valley Real Estate Board (FVREB) processed 1,259 sales on its Multiple Listing Service (MLS), an increase of 12 per cent compared to the 1,128 sales during March of last year, and a 14 per cent increase compared to Februarys 1,102 sales.

Ray Werger, President of the Board, says, We did see activity pick up last month with an increase in demand in particular for single family detached homes. Sales were noticeably higher in North Delta, Mission and Langley compared to last year.

Last March, sales of detached homes accounted for 55 per cent of sales of our three main residential property types and this year that increased to 58 per cent. It may not sound like much, but that translated into over 100 more sales. The property type that lost ground was townhouses. Werger explains, Our main buyers are families looking for the best value possible by taking advantage of continuing low interest rates and stable home prices.



Fraser Valley market showing signs of spring

SURREY, BC The Fraser Valley Real Estate Boards Multiple Listing Service (MLS) recorded 1,102 sales in February, an increase of 43 per cent over Januarys sales and an increase of 21 per cent over the 913 sales during February of last year.

Ray Werger, President of the Board, says, The last time we saw an improvement in the market this early in the year was two years ago when we ended up having a solid, steady market from February through to mid-summer. Its too early to predict whether this year will be similar, but for now sales are up and the average number of days to sell a detached home is one week faster than it was in January.

Werger adds, Although sales have picked up, its important to mention that theyre still hovering about 10 per cent below our 10-year average and the increases in activity are specific to property type and location, so be sure to ask your REALTOR how your home and neighbourhood compare.




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