According to the Fraser Valley Real Estate Board the housing market activity reaches historic levels in September.
The Fraser Valley Real Estate Board processed 2,231 sales on its Multiple Listing Service® (MLS®) in September, an increase of 66.1% compared to the same month last year and an increase of 9.4%t compared to August
2020. This is the highest recorded sales for September in the history of FVREB.
Fraser Valley Real Estate Board reported that in the last three months, Fraser Valley has seen a defined shift in demand towards single-family detached homes with sales in July through to September garnering 47% of the three main residential types, compared to 43% during the same period last year.
Chris Shields, President of the Board, observes, “Our homes have never been more important. Across the Fraser Valley,
we’re seeing a trend towards buyers looking for more space and livability in both single‐family homes and townhomes.
“For many existing homeowners and first‐time buyers, their buying power is greater than it’s been in a long time.
Interest rates are very low, people have saved money over the last few months, and they’re choosing to invest it in their
most important asset. Sellers are also recognizing that with lower than normal inventory, this is a smart time to list.”
Find all the infographics related to the May Market Statistics by visiting the Facebook Album.
Abbotsford
Cloverdale
Langley
Mission
North Delta
North Surrey
Surrey Centra
White Rock / South Surrey
Looking for more information about the real estate market in specific neighbourhoods in Surrey, Langley and Fraser Valley?
Macdonald Realty has offices in North Delta, White Rock/South Surrey, and Langley. Please email [email protected] or call 1-877-278-3888 to be matched with a REALTOR® working in your area.
MLS® Home Price Index (HPI) Benchmark Price
Average and median home prices are often misinterpreted, are affected by change in the mix of homes sold, and can swing dramatically from month to month (based on the types and prices of properties that sold in a given month). The MLS® HPI overcomes these shortcomings and uses the concept of a benchmark home, a notional home with common attributes of typical homes in a defined area. Visit www.housepriceindex.ca for more information.
This blog post is based on market data provided by the Fraser Valley Real Estate Board (FVREB) www.fvreb.bc.ca
