March Real Estate STATS are out for the Fraser Valley

For Immediate Release: April 2, 2008
SPRING BODES WELL FOR FRASER VALLEY BUYERS

(Surrey, BC) – In March, selection reached a 10-year high on the Fraser Valley Real Estate Board’s Multiple Listing Service (MLS®), with the number of active listings reaching 9,361, an increase of 27 per cent compared to the 7,351 listings available during the same month last year. The previous March that offered as much or greater inventory was in 1998, when Fraser Valley had 10,148 active listings. The total number of sales processed through Fraser Valley’s MLS® in March was 1,315, a decrease of 25 percent compared to March 2007 when 1,743 sales were processed.

The number of new listings in March also decreased slightly with the Board receiving 3,277 compared to 3,369 new listings received during the same month last year, a decrease of 3 per cent. In March, average Fraser Valley home prices continued to increase in the strong single digits for detached and townhomes and remained in the double digits for condominiums.
Kelvin Neufeld, president of the Fraser Valley Real Estate Board explains, “With a significant increase in product and properties taking longer to sell, we have a more competitive market for sellers in the Fraser Valley right now, yet enough demand to keep prices trending upwards.

February Real Estate STATS

Keep an eye out for the new STATS Packages being released for February. It should be interesting to see the changes, as we are getting into Spring.

Keep in mind to look at the whole package and not just the average price. Price can be skewed lower by more lower priced houses selling or higher by more higher priced houses selling. Look at sales volume and listings, this will give you an idea if we are in a buyers or sellers market which can put pressure on price in either direction.

LINKS are to your right for the Housing STAT Packages.

Fraser Valley, BC Real Estate STATS are out.

The January 2008 Housing STATS for the Fraser Valley are out. LINK.

"(Surrey, BC) – The Fraser Valley Multiple Listing Service® (MLS®) January 2008 statistics reveal an increase in selection for buyers and continued price increases for sellers in the Fraser Valley."

March Housing STATS Summary

If you haven't seen the latest Real Estate STATS you can follow the links on my sidebar. It looks like Inventory is up (as much as 46% in some areas since last year), Sales are down, but prices are holding, if not increasing in some areas.

The US Housing Market is still showing signs of getting weaker.

Fraser Valley January Housing STATS are out.

"The total number of sales processed in January was 1,001, a decrease of 14 per cent compared to the same month last year when 1,165 sales were processed, however an 18.8 per cent increase compared to the 842 sales processed in January 2005.

New listings in January increased by 14 per cent compared to 2006. As well, the Fraser Valley Multiple Listing Service® saw an increase in the number of expensive properties listed.

“High-end buyers will see that over 75 single family homes listed at one million or more entered the Fraser Valley market in January,” says David Rishel, president of the Fraser Valley Real Estate Board. “There is also a range of choices for average home buyers, with almost 600 homes valued between $250,000 and $500,000 listed last month.”

The Board received 2,425 new listings in January compared to 2,127 during the same period last year, bringing the total active inventory in the Fraser Valley to 6,099, an increase of 29 per cent over last year.

The average price of a single-family detached house in the Fraser Valley in January was $494,177, an increase of just over 11 per cent compared to the same month last year. In January 2006, the average price was $444,771.

Townhouses sold for an average of $302,591 in January, an increase of 16.2 per cent from 2006 when they sold for an average of $260,445. The average apartment price went up 18 per cent in one year, from January 2006’s average of $169,473, to $199,995 in 2007."

Take a look LINK.

Okanagan Real Estate STATS Are Out.

If you are interested the Okanagan Real Estate STATS have finally come out for December. The LINK is on my sidebar.

Residential Stats Are out for December

Residential Stats are now out for Fraser Valley and Calgary. Looks like prices are leveling off and listings are up.

Should be interesting to see how things turn out in the Spring. Here are the links:

Fraser Valley Stats.
Calgary Stats.

They are also on my side bar.