Wondering just what the Real Estate Market is doing these days? Is it really a Buyer’s market? Let’s dive in and I will walk you through the stats.
“With foreign buyer taxes slowing the luxury home market lower end luxury condo sales are up as Millennials use inheritances and baby boomers downsize” ~
The market speed for the Fraser Valley is 18 percent indicating it’s a balanced market. Starting with sales, the total sales last month were 1036 which is 37 percent less year over year and a 15 percent increase over the previous month.
The median sale price was $687,000 making it a three percent increase over this time last year and 3 percent decrease month over month.
There were5795 active listings last month which is a 58 percent increase over this time last year, and no change from the previous month.
These are Fraser Valley wide stats and not specific to one particular area–interested in getting stats for your neighborhood? Send me an email and I would be happy to send them your way!
September flew by and as we draw into the fall market, the numbers are starting to show the “fall spike” that we typically see in the market is happening!
The downturn in the market that we initially saw when the stress testing came out has since balanced out as is evident by the stats below:
BY THE NUMBERS
To give you an idea of what the market is doing compared to 2017 and last month here are the stats for Sales, Sale Price and Number of Listings.
There were a total of 900 sales in the Fraser Valley in the month of September. This is down by 39% year over year and down by 14% month over month.
2. Sale Price
The average sale price for September 2018 was listed at $712,000. This is a 4% increase year over year and no change month over month.
3. Number of Listings
There were a total of 5778 listings in the month of September. This was a 42% increase year over year and a 7% increase month over month.
Overall, the market speed is 16% leaving the Fraser Valley in a ‘balanced market’. Different areas of the Fraser Vally have different sales numbers and average sales prices though, with each having its own unique market speed. If you would like to chat more about the stats in your area or talk about placing your home on the market, give me a call, 604-533-3491.
Summer is just about over and signs of Fall have started to appear everywhere…the kids are back in school, everyone is settling back into a routine, and the leaves are even starting to change.
With, Fall also comes an influx of inventory of listings too! The market is at a perfect point to sell or buy with balanced conditions lending itself to fair prices on real estate for both buyers and sellers.
To give you a more in-depth view of the Real Estate Market, here is a month over month comparison:
Sales: 1044 total in August 1152 in July
Sale Price: $715,000 average in August, $740,000 in July
Active Listings: 5380 actives listings in August, 5490 active listings in July.
The overall market speed came in at 19% which is a balanced market. Are you interested in seeing the statistics for your specific area? Get in contact with me and I will happily send you a report! I would also love to sit down and grab coffee with you if you have any further questions, just give me a call at 604-533-3491
Back to school is right around the corner and we want to give you the chance to stock up at Staples. From August 1-August 31, if you refer a friend or family member to us by phone or email we will automatically enter you to win a $100 Staples Gift Card!
To refer someone to us, contact us at:
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The referral of the people you care about is so appreciated. Thank you. Good luck in teh draw!
Summer is officially in full swing! With the shift towards people being on vacation, the ‘summer slowdown’ and changes in routine the real estate market tends to drop off slightly too. This month’s stats have shown that with most markets across the Fraser Valley transitioning into a “Balanced Market”.
*stats taken from the Fraser Valley SnapStats report
In addition to the above stats, a few other things to keep in mind include the year over year comparison.
Total listings were up from last with 5,490 homes on the market compared to 4,087 in 2017. However, the total sales were down with July 2018 coming in at 1,152 and July 2017 at 1,174. One interesting note (and good news for sellers) was the prices continue to be up from last year. The average home price was up 8% year over year, giving sellers a boost within the market.
If you have questions or would just like to get together and find out the stats for your area, please give me an email–it would be my pleasure to meet with you!
There is a variety of different markets within the Fraser Valley this month. Certain areas like Surrey, White Rock and Delta are classified as a ‘buyers market’ or like North Delta, a ‘balanced market’. Langley, Abbotsford, Mission and Cloverdale still remain a ‘seller’s market’.
Statistically, the stats for this month are:
- Total Listings: 5,244 listings
- Total Sales: 1,283 Total Sales
- Sales Price: 6% variance year over year average sale price
We are in a Seller’s market with a market speed indicator of 24%. The market has seen a rise in borrowing costs which will weigh on the activity and prices, coupled with low unemployment, rising wages and healthy population growth the housing market should improve.
Interested in learning more about the stats in your area? Send me an email and I would be happy to send them your way; firstname.lastname@example.org
April was an interesting month in Real Estate! As the CMHC Chief Economist pointed out:
“The local economy has been very strong with jobs attracting people and increasing demand but without the supply, that demand goes into house price increases.” -CMHC Chief Economist
The increase in demand without the necessary supply leads to an increase in home prices. With that in mind, let’s look at this month’s stats!
The market remained as a Seller’s Market for the Fraser Valley. Total listings came in at 4014 an increase from last year which was 3169.
Total sales this month totaled 1512, a drop from last year’s record of 1989.
However, due to the increase in demand but a decrease in supply the sale price reached 20% above last year’s. The median sale price was at $751,000. An increase from last month’s $719,000.
Interested in seeing more detailed statistics about your area? Send me an email or call me and I will get you a copy delivered right to your inbox.