Strength of the Fraser Valley housing market from the summer season continues as we entered fall this past month. The Fraser Valley Real Estate Board (FVREB) has released their September Statistics, reporting this is the busiest September for the market since September 2009.
- Total Sales: 1,419 – an increase of 25% compared to September 2013
- New Listings: 2,758 – an increase of 16% compared to September 2013
- Total Number of Active Listings: 9,156 – a decrease of 7% compared to September 2013
Ray Werger, President of the FVREB says, “Similar to this past summer, this is the busiest September we’ve had since 2009 with sales of all property types combined out‐performing the 10‐year average by 13 per cent. Residentially, the single family detached home remains the preferred property type. From North Delta to Mission, sales increased in every Fraser Valley community compared to last year with the price range of $400,000 to $699,999 garnering almost sixty per cent of our total detached market.”
- Detached Home: $569,800 – an increase of 3.1% compared to September 2013
- Townhouses: $299,600 – an increase of 1.1% compared to September 2013
- Apartments: $203,100 – a decrease of 4.7% compared to September 2013
Werger adds, ” An important factor underlying the housing market is consumer confidence and in our region that confidence has been bolstered by the stability of home prices. Since March, the benchmark price of our three main residential property types combined has remained flat, increasing by only 0.6 per cent. Long‐term, the value of single family detached homes has increased at a faster pace than it has for attached properties, particularly in areas such as Surrey, White Rock, Langley and Abbotsford where we’ve seen many new townhome and condo developments. The supply of new inventory has affected the price of resale product.”
For more information and data on the FVREB September Statistics Report, please click here.
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