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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.

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Saturday, January 24, 2009 - "And this makes it 3 for 3 with unexpected Q4 profits...."

http://mast-economy.blogspot.com/2009/01/q4-trifecta-pays-62b.html

posted in General at Sat, 24 Jan 2009 04:16:01 -0800



Saturday, January 24, 2009 - "More good news, this time from IBM" read on

The Good News EconomistBig Blue Charges into 2009Posted: 20 Jan 2009 10:16 PM PSTSo last week you heard the good news from Intel.And this week it is Big Blue (IBM) leading the technology earnings charge into the new year.You?ll remember last week Intel suggesting that despite earlier (and eager press) reports, they were *not* going to layoff any workers. And that they fully expected healthy margin levels later in 2009.Similiarly today, IBM announced that it sees a strong profit outlook in 2009. ... Full Article...

posted in General at Sat, 24 Jan 2009 04:12:53 -0800



Saturday, January 24, 2009 - U.S. consumer confidence rise surprises economists by RISING in January

abbotsfordicirealestate.com/siteFiles/File/U%20S%20%20consumer%20confidence%20rises%20surprisingly.pdf

posted in General at Sat, 24 Jan 2009 04:09:56 -0800



Friday, January 23, 2009 -

more at ......http://www.bnn.ca/news/6227.html

posted in General at Fri, 23 Jan 2009 16:57:40 -0800



Sunday, January 18, 2009 - Three more Companies positing GAINS in the first quarter of 2009 more at ....

abbotsfordicirealestate.com/siteFiles/File/Shaw%20Voice%20Mobility%20XM%20Canada%20post%20gains.pdf

posted in General at Sun, 18 Jan 2009 16:02:14 -0800



Sunday, January 18, 2009 - "Retail sales for Dec. 2008 were UP!!! Unlike U.S." for more read.....

http://www.financialpost.com/news/story.html?id=1158766

posted in General at Sun, 18 Jan 2009 15:59:20 -0800



Wednesday, January 14, 2009 - Another web site devoted to positive news. A must read

http://wordpress.com/tag/positive-economic-news/

posted in General at Wed, 14 Jan 2009 23:43:31 -0800



Tuesday, January 13, 2009 - Landcor's 2009 Adjusted Value Profiler

?Since 80% of residential property assessments are capped this year is there a quick tool to determine value??Landcor?s 2009 Adjusted Value ProfilerLandcor.comhttp://www.landcor.com/images/newsletter/landcor_small.jpgWith over 80% of residential property assessments being capped this year, a property?s assessed value can no longer be used to determine market value in 2009.Landcor Data Corporation understands the impact this change is having on businesses. To meet the needs of our clients ...

posted in General at Tue, 13 Jan 2009 16:28:35 -0800



Tuesday, January 13, 2009 - More from the Good News Economist

http://mast-economy.blogspot.com/2009/01/banks-are-no-longer-failing.html     

posted in General at Tue, 13 Jan 2009 14:30:02 -0800



Monday, January 12, 2009 - have you ever heard of a good news economist

If not you should read this economists opinion on some of the leading indicators. Great food for thought here. http://www.mast-economy.blogspot.com/

posted in General at Mon, 12 Jan 2009 01:42:34 -0800



Monday, January 12, 2009 - If you saw POSITIVE economic news bordB.C. would you read it and if your answer is yes then the foll

http://www.gov.bc.ca/keyinitiatives/economic_indicators.html  

posted in General at Mon, 12 Jan 2009 01:39:58 -0800



Monday, January 12, 2009 - Abbotsford Industrial Area Plans for CICP draft July, 2008

http://www.abbotsford.ca/AssetFactory.aspx?did=8352

posted in General at Mon, 12 Jan 2009 01:36:01 -0800



Friday, January 9, 2009 - Yearly MLS Stats now up

Decembers, and 2008 MLS Stats are now availbe on the web site. Look for the big red tab on the front page.

posted in General at Fri, 09 Jan 2009 14:43:26 -0800



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