FVREB January Statistics
The Fraser Valley Real Estate Board (FVREB) have released their January Statistics Report. The Fraser Valley housing market is seeing a record high activity of an increase of sales and new listings for the start of 2014.
Source: Getty Images
Key Stats:
- Total Sales: 772, an increase of 25% compared to January 2013
- Total Listings: 2,676, an increase of 1% compared to January 2013
- New listings in January 2014 were 7% higher than the 10-year average for January
- Detached Home Benchmark Price: %552,500, an increase of 2.2% compared to January 2013
- Townhouses Benchmark Price: $297,600, an increase of 1.3% from January 2013
- Apartment Benchmark Price: $192,300, a decrease of 4% from January 2013
The President of FVREB says, “Starting early in the year, we typically see a ‘restocking of our shelves’ in advance of the spring market, which is a positive trend for buyers in that it creates new opportunities for them. With higher inventory they have greater freedom to comparison shop.”
“Generally, values of ground-oriented homes in Fraser Valley have been stable or increasing while condo values have been flat or decreasing. This is why it’s important to talk to your local REALTOR® because we’re seeing different market trends dependent on property type and location.”
*All statistics are from the Multiple Listing Service® (MLS®)
To see the full FVREB January Statistics Report, 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