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Increased demand for Fraser Valley townhouses and single family homes

November, 03 2014 04:11:20 pm, by FVREB
Categories: Statistics

SURREY, BC – The Fraser Valley Real Estate Board processed 1,448 sales on its Multiple Listing Service (MLS®) in October, an increase of 16 per cent compared to the 1,249 sales during the same month last year and 2 per cent more than in September.

Ray Werger, the Board’s president, 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.”

The MLS® Home Price Index (MLS® HPI) benchmark price of a detached home in October was $573,500 an increase of 4 per cent compared to October 2013, when it was $551,400.

The MLS® HPI benchmark price of townhouses increased 1 per cent from $295,500 in October 2013 to $298,500 last month. The benchmark price of apartments decreased year-over-year by 3.5 per cent, going from $199,500 in October of last year to $192,600 in October 2014.

In the last five years, the MLS® HPI benchmark price of a detached home in the Fraser Valley has increased by 16.6 per cent. For townhouses, the price is flat having increased by 0.5 per cent and for apartments; the price has decreased by 6 per cent.

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.”

In October, new listings in the Fraser Valley increased by 3 per cent, going from 2,336 last year to 2,395 last month taking the number of active listings to 8,807, a decrease of 3 per cent compared to the 9,047 active listings in October of 2013. “Inventory is edging down, which is typical for this time of year,” says Werger. “The result is we’re seeing good quality homes that are priced right moving quickly.”

I have Just Listed a great new Industrial opportunity in the Clearbrook Industrial area. It is a former school complex, the Simpson Elementary School, and it sits on 4.6 acres buildable land which is a portion of a 13.5 acre site bounded by a creek on the west and north boundaries. It includes 24,000 square feet of classrooms, offices, and lunchroom, gym and meeting room facilities. The land is flat, cleared and has covered and surface parking with outstanding exposure on Simpson Rd. The 2010 traffic count was about 7,500 cars per 24 hour period. Uses include a Trade School, all general Industrial applications and possibly assembly use, catering or banquet hall use. A full info package is available just contact me at kenneufeld@telus.net and I will email you a copy.

1 - 7 of 7

Wednesday, July 25, 2007 - Just Sold - F3700974

Just sold this listing:"1.21 acres of A1 zoned land NOT IN THE ALR. Potential for rezoning to industrial use. Prime location just minutes from Highway 1 and Abbotsford Airport. Seller will consider trade to review producing properties ie: mobile home parks."
  
posted in Listings at Wed, 25 Jul 2007 05:00:00 -0700



Tuesday, July 10, 2007 - New Listing - F3700974

Just added this listing:"1.21 acres of A1 zoned land NOT IN THE ALR. Potential for rezoning to industrial use. Prime location just minutes from Highway 1 and Abbotsford Airport. Seller will consider trade to review producing properties ie: mobile home parks."
  
posted in Listings at Tue, 10 Jul 2007 05:00:00 -0700



Tuesday, July 10, 2007 - Just Sold - H2702319

Just sold this listing as buyer agent:"You deserve the best! Retriever Ridge is your reward. Located off Old Orchard ab ove Copper Ridge, you will love morning coffee or evening entertaining basking i n a warm sunset from your large decks and windows. 3 levels of living to helpmaximize the R1C zoning and all this surrounded by the Fraser and lush mountains"
  
posted in Listings at Tue, 10 Jul 2007 05:00:00 -0700



Monday, July 9, 2007 - Just Sold - F3700246

Just sold this listing:"Make your clients next address Aiport North Business Park, Abbotsford's newest Industrial Park. Outstanding location only 3 mins. from Hwy 1 and Abbotsford's Airport. Attractive modern architecture, lots of parking & excellent frontage."
  
posted in Listings at Mon, 09 Jul 2007 05:00:00 -0700



Monday, July 9, 2007 - Just Sold - F3700248

Just sold this listing:"Make your clients next address Aiport North Business Park, Abbotsford's newest Industrial Park. Outstanding location only 3 mins. from Hwy 1 and Abbotsford's Airport. Attractive modern architecture, lots of parking & excellent frontage."
  
posted in Listings at Mon, 09 Jul 2007 05:00:00 -0700



Monday, July 9, 2007 - Just Sold - F3700246

Just sold this listing as buyer agent:"Make your clients next address Aiport North Business Park, Abbotsford's newest Industrial Park. Outstanding location only 3 mins. from Hwy 1 and Abbotsford's Airport. Attractive modern architecture, lots of parking & excellent frontage."
  
posted in Listings at Mon, 09 Jul 2007 05:00:00 -0700



Monday, July 9, 2007 - Just Sold - F3700248

Just sold this listing as buyer agent:"Make your clients next address Aiport North Business Park, Abbotsford's newest Industrial Park. Outstanding location only 3 mins. from Hwy 1 and Abbotsford's Airport. Attractive modern architecture, lots of parking & excellent frontage."
  
posted in Listings at Mon, 09 Jul 2007 05:00:00 -0700



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