Housing has become a valued asset in an investment portfolio. Greater Vancouver has become viewed as a hotspot for global investors. This month, statistics explain why adding real estate to your portfolio just might be the way to go.
The market speed for the Fraser Valley is 36% which officially makes it a seller’s market. This is due to a number of factors, but let’s start with sales. Total sales last month were 1464 which is 26% greater year over year and 14% last month over month.
Next up, sale price. The median sale price was $682,000 which is a 15% increase over this time last year and a 1 percent increase over the previous month.
Finally, active listings. There were 4060 active listings last month which is a 9% decrease over this time last year and a 5% increase month over month. A property was on the market for 16 days before selling which is no change from one year ago and 23% more than the previous month.
If you would like to see what the market stats for you specific area are, or would like to talk about listing your home please do not hesitate to contact us.