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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 and I will email you a copy.

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Wednesday, October 29, 2008 - American Dollar

Here is some information a client of mine passed along. I thought it may be interest to you.Institutional investors and hedge funds are having to pay down some of the loans which they have taken out over the past few years. Previously these investors had been rolling over loans in the lower yielding currencies of the yen, swiss franc, and dollar in order to pick up the 'carry' between these low interst loans and their higher yielding investments. Now, due to the credit crunch, the lenders are ... Full Article...

posted in General at Wed, 29 Oct 2008 14:48:15 -0700

Wednesday, October 29, 2008 - Housing in the USA

Its amazing these comedians got it better than the American Government did.

posted in General at Wed, 29 Oct 2008 14:31:35 -0700

Wednesday, October 29, 2008 - New Exclusive Listing

Just added this listing:"Lease for $8.00 per sq ft +NNN. 1,680 sq ft of finished office space, complete with kitchen, reception area, boardroom, and 6 offices."
posted in Listings at Wed, 29 Oct 2008 05:00:00 -0700

Thursday, October 23, 2008 - Some Stats that may surprise you

Here are some stats taken right from the Fraser Valley MLS system for Abbotsford they may surprise you.MLS Housing Stats Report

posted in General at Thu, 23 Oct 2008 12:16:09 -0700

Thursday, October 23, 2008 - According to Donovan Collins, AACI

Here is another interesting Article regarding the current house situation.Donovan Collins article

posted in General at Thu, 23 Oct 2008 12:13:31 -0700

Thursday, October 16, 2008 - Maclure Road Business Park

Maclure Road Business Park would like to welcome all the various business who have chosen Maclure Road Business Park as their home.Allegra Print & Imaging               Fraser Valley EngineeringCalder Wines CellarAggressive Custom MFGBob?s Auto RepairAces RV Repair                           Atlas Roof Maintanence             

posted in General at Thu, 16 Oct 2008 20:37:30 -0700

Wednesday, October 15, 2008 - Airport North Business Park

Airport North Business Park would like to welcome all its Tenants and a special welcome to it?s newest:Vintage Coffee Roasting will be opening soon at 30553 Great Northern Ave. 2707 Progressive WayGuillevin International                  www.guillevin.comTotal Office                          West Coast Machinery                   www.wcmachinery.netStanpro Lighting                     2730 Progressive ...

posted in General at Wed, 15 Oct 2008 14:31:31 -0700

Tuesday, October 14, 2008 - How about some good news on the Canadian economy

A report by Derek Holt and Karen Cordes from the Bank of Nova Scotica explains some of the differances between the Canadian banking system and the American. Please visit this link to see the full report.  Bank of Nova Scotica report

posted in General at Tue, 14 Oct 2008 22:10:25 -0700

Tuesday, October 14, 2008 - Williowbrook

The Willowbrook addition is proceeding as planned. The site located near the Brick is now being cleared and prepared for construction.

posted in General at Tue, 14 Oct 2008 22:07:27 -0700

Tuesday, October 14, 2008 -


posted in News at Tue, 14 Oct 2008 22:05:14 -0700

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