FVREB April Statistics
The Fraser Valley housing market was reported to have a healthy balance this past month. The Fraser Valley Real Estate Board (FVREB) have released the April Statistics report.
Key Stats:
- Total Sales Volume reported a 17.0% increase compared to March 2014
- Active Listings: 9,400 – a 7.0% decrease compared to April 2013
- New Listings: 3,153 – an increase of 6.8% compared to April 2013
Benchmark Prices:
- Detached Homes: $566,000 – an increase of 3.4% compared to April 2013
- Townhouses: $298,700 – a consistent price compared to April 2013
- Apartments: $196,300 – a decrease of 3.7% compared to April 2013
The President of FVREB, Ray Werger says, “There’s a lot of optimism right now. It will take a few more months of numbers, but our 2014 market is already on track to outperform last year. A measurement we rely on to gauge the health of the housing market is the ratio between sales and active listings and in April that number was the highest it’s been in our region in three years. Last month, that ratio for both single family detached homes and townhomes was 21 per cent, meaning for every 100 homes available, 21 sold. That’s a strong, balanced market.”
Werger adds, “In some of our areas we have an oversupply of condos and you’ll see that reflected in prices. Generally, prices of benchmark or typical apartments have decreased over the past year. However, both buyers and sellers need to be aware that it depends on the community and the age and quality of the condo.”
To see the full FVREB April Statistics Report, click here.
All statistics are from the Multiple Listing Service® (MLS®)
If you have any questions regarding the above, please give us a call at 604-588-4466 or email us at info@brokersmart.ca