FVREB October Statistics

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This past month the demand for townhouses and single family homes have increased. What does this mean for the Fraser Valley housing market? The key stats from the Fraser Valley Real Estate Board FVREB October Statistics Report are outlined below.

Key Stats: 

  • Total Sales: 1,448 – an increase of 16% compared to October 2013
  • New Listings: 2,395 – an increase of 3% compared to October 2013
  • Active Listings: 8, 807 – a decrease of 3% compared to October 2013

President of the Fraser Valley Real Estate Board, Ray Werger, says, “Sales overall continue to outperform last year and as we’ve seen for a number of months now are the best they’ve been in five years. Demand remains steady in our region for single family detached homes and townhomes. Last month, the market share of sales of single family homes increased by almost five per cent compared to last year; while the share of condo sales decreased by the same amount and we’re seeing that preference reflected in prices.”

Benchmark Prices: 

  • Detached Homes: $573,500 – an increase of 4% compared to October 2013
  • Townhouses: $298,500 – an increase of 1% compared to October 2013
  • Apartments: $192,600 – a decrease of 3.5% compared to October 2013

Werger adds, “With the influx of new developments and a steady supply of resale units, we’ve never had a better selection of condos than we do right now at prices the lowest they’ve been in years. For those that say housing isn’t affordable in Metro Vancouver, you need to check out the opportunities currently for condo buyers in the Valley.”

To view the full FVREB October Statistics Report, please click here.

If you have any questions regarding the above, please give us a call at 604-588-4466 or email us at info@brokersmart.ca

REBGV October Statistics

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The Greater Vancouver market continues to be on the rise as we end the month of October. The housing market will enter November with statistics above the long-term averages. Below outlines the key stats from the REBGV October Statistics Report from the Real Estate Board of Greater Vancouver.

Key Stats: 

  • Residential Property Sales: 3,057 – an increase of 14.9% compared to October 2013. Sales were 16.6% above the 10 year sales average for the month of October.
  • New Listings: 4,487 – an increase of 4% compared to October 2013
  • Total Properties Listed: 13,851 – a decrease of 9.2% compared to October 2013 and a 6.6% decrease of September 2014

Benchmark Prices: 

  • All Properties: $637,00 – an increase of 6% compared to October 2013
  • Detached Properties: $995,100 – an increase of 7.9% compared to October 2013
  • Apartment Properties: $380,200 – an increase of 4% compared to October 2013
  • Attached Properties: $479,500 – an increase of 4.7% compared to October 2013

The President of the Real Estate Board of Greater Vancouver, Ray Harris, says, “We’ve seen strong and consistent demand from home buyers in Metro Vancouver throughout this year. This has led to steady increases in home prices of between four and eight per cent depending on the property. “Detached homes continue to increase in price more than condominium and townhome properties. This is largely a function of supply and demand as the supply of condominium and townhome properties are more abundant than detached homes in our region.”

To view the full REBGV October Statistics Report, please click here.

If you have any questions regarding the above, please give us a call at 604-588-4466 or email us at info@brokersmart.ca