Get up-to-date with the key stats listed in the newly released Fraser Valley Real Estate Board (FVREB) October Statistics Report. Below is an overview of from the report on the current housing market situation is the Fraser Valley region.
Consistent with 10-year Average
- Typical levels of activity of October remain on par with the 10-year average – increase in sales, decrease in new listings
- Posted sales totaled 1,249, an increase of 19% compared to the same month last year
- FVREB’s listing inventory totaled 9,047 this month, a decrease of 10% compared to the 10,551 available properties in October 2012
The benchmark prices reported for October:
- Single family detached homes: $551,400, a 0.8% increase from October 2012
- Townhouses: $295,500, a 0.5% drop from October 2012
- Apartments: $199,500, a 2.2% decrease from October 2012
Ron Todson, President of the Fraser Valley Real Estate Board, states in the press release, “We’ve had a great summer and good early fall, but it’s important to remind everyone of the context. The last four months of 2012 we’re amongst the slowest for our real estate market in the last 15 years. What we’re witnessing is a return to a balanced residential market indicated by prices remaining unchanged or down slightly compared to a year ago, stable inventory levels and the average length of time to sell a home is about two months.”
To view the full FVREB October Statistics Report, click here.
If you have any questions, please give us a call at 604-588-4466 or email us at email@example.com
For more blog posts on the real estate industry, click here.