Looking To Buy a Home and Move In Before Christmas?

It's not too late! Currently, there's almost 300 vacant houses, condo's and townhomes for sale in the Abbotsford market alone! If you would like to receive this list - or a specified price range of homes that are available immediately, email Tibor for more info. tbogdan41@hotmail.com

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Real Estate Statistics

News Release: November 2, 2011
Advantage buyers in Fraser Valleys housing market. SURREY, BC - Below average home sales combined with a regular influx of new listings continue to give buyers the upper hand in communities south of the Fraser River, including Mission. However, according to the president of the Fraser Valley Real Estate Board, Sukh Sidhu, There is action when the property is competitively priced. It is not a quiet market. Priced]right properties are selling thanks to the continuation of low interest rates. Sidhu adds, Whats happening is that there is a large amount of inventory available in the Fraser Valley, in particular with condos and townhomes, and thats whats holding prices in check. The Fraser Valley Real Estate Board processed 1,139 sales in October on its Multiple Listing Service (MLS), an increase of 12 per cent compared to the 1,014 sales during the same month last year and a decrease of 2 per cent compared to 1,165 sales in September. In terms of listings, the board posted 2,511 new properties in October, an increase of 18 per cent compared to October of last year and a decrease of 5 per cent compared to September. The number of active listings in the Fraser Valley dipped in October, going from 10,096 in September to 10,005. Sidhu says, The good news for sellers is that although inventory is high, its not near record highs and sales remain steady. This is why the overall benchmark price for residential properties has remained unchanged for six months. The benchmark price (the price of homes with characteristics typical to that area) of a single family detached home in the Fraser Valley in October was $530,335, an increase of 4.9 per cent compared to $505,759 in October 2010 and on par with the price in September. For townhouses, the benchmark price in October was $325,482, an increase of 2 per cent compared to the same month last year when it was $319,058 and down 0.6 per cent compared to September. The benchmark price of apartments in October was $243,725, an increase of 1.3 per cent compared to October 2010 and on par with the price in September. The average number of days to sell a Fraser Valley home varies depending on the property type. Sidhu says the average of 45 days to sell a single family detached home has been constant for three months. In October, townhomes took on average 55 days to sell and apartments 75 days.

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Real Estate Statistics

News Release: May 3, 2011

APRIL HOME SALES RETURN TO BALANCE IN FRASER VALLEY

(Surrey, BC) The Fraser Valley Real Estate Board processed 1,516 property sales on its Multiple Listing Service (MLS) in April, a decrease of 15 per cent compared to 1,793 sold during April of last year, and a decrease of 17 per cent compared to Marchs 1,818 sales.

Sukh Sidhu, president of the Board, explains, Aprils sales are pretty typical for that month over the last two decades with the 20-year average being 1,580, but softer than what we saw earlier this year.

The Fraser Valley market was busier than normal in February and March due in part to the tighter credit conditions that kicked in on March 18, plus you add into the mix a focus on the federal election and you get an April that trends back to normal conditions.

However, Sidhu says certain individual markets within Fraser Valley have remained active. For the third month in a row, sales of single detached homes in White Rock/South Surrey have accounted for almost a quarter of all detached sales in the region compared to the 15 per cent share that area typically garners.

Benchmark prices of detached homes in that area have increased by 11 per cent in the last three months compared to 3.9 per cent across the Fraser Valley as a whole, emphasizing the need for local expertise no matter where youre thinking of buying or selling.

April finished with 5 per cent more active listings on the MLS than it had in March 9,697 compared to 9,228 however, 9 per cent fewer than the 10,635 listings that were active during April of 2010. The Board received 2,918 new listings in April, a decrease of 14 per cent compared to March and a decrease of 22 per cent compared to the 3,760 new listings received in April 2010.

Regarding prices, in April, the benchmark price for Fraser Valley detached homes was $525,510, an increase of 1 per cent from the April 2010 price of $520,423. The benchmark price of townhomes was $332,992 in April, an increase of 2 per cent compared to $326,367 in April 2010. The benchmark price of apartments was $252,689 in April, a 1.3 per cent increase compared to $249,453 in April 2010.

Information and photos of all Fraser Valley Real Estate Board listings can be found on the national, public web site www.REALTOR.ca. Further market statistics can be found on the Boards web page at www.fvreb.bc.ca. The Fraser Valley Real Estate Board is an association of 2,924 real estate professionals who live and work in the communities of North Delta, Surrey, White Rock, Langley, Abbotsford, and Mission.

Full package:
http://www.fvreb.bc.ca/statistics/Package%20201104.pdf

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News Release: December 2, 2010

CONSISTENT HOME SALES IN THE FRASER VALLEY SPEAK TO CONSUMER CONFIDENCE

(Surrey, BC) For the fifth consecutive month, sales processed on the Fraser Valley Real Estate Boards Multiple Listing Service (MLS) have remained stable with Novembers figures showing a modest increase over October.

Consumers are responding to how prices have moderated in the last six months, in addition to the double dip in mortgage rates, says Deanna Horn, Board president.

Buyers are optimistic because of the improved economic conditions, which is why were seeing consistency in homes sales in the Fraser Valley.

A total of 1,084 sales were processed on the Boards MLS in November, an increase of 7 per cent compared to 1,014 sales in October and a decrease of 29 per cent compared to 1,522 sales in November of last year.

The Board received the fewest number of new listings this year to date with 1,773 new properties coming on stream in November, a 17 per cent decrease from October and a 15 per cent decrease compared to November 2009. The Board finished November with 9,049 active listings, 5 per cent fewer than in October and an increase of 9 per cent compared to the 8,334 properties available in November 2009.

Horn says, Its not unusual to see a dip in new listings at this time of year, however the level of home-buying interest, in particular for homes priced competitively, is stronger than we expected given were approaching the holiday season. That combination continues to have a stabilizing effect on home prices in the Fraser Valley.

The benchmark price for Fraser Valley detached homes in November was $504,848, down 0.2 per cent compared to October and 1.4 per cent higher compared to $497,697 in November 2009.

The benchmark price of Fraser Valley townhouses in November was $319,623, a 0.2 per cent increase compared to October and a 1.2 per cent increase compared to November 2009 when it was $315,890.

Year-over-year, the benchmark price of apartments increased 2.7 per cent going from $235,842 in November 2009 to $242,276 last month and 0.7 per cent higher compared to October 2010.

Information and photos of all Fraser Valley Real Estate Board listings can be found on the national, public web site www.REALTOR.ca. Further market statistics can be found on the Boards web page at www.fvreb.bc.ca. The Fraser Valley Real Estate Board is an association of 2,918 real estate professionals who live and work in the communities of North Delta, Surrey, White Rock, Langley, Abbotsford, and Mission.

Full package:

http://www.fvreb.bc.ca/statistics/Package%20201011.pdf