{"id":11115,"date":"2018-12-13T11:11:53","date_gmt":"2018-12-13T19:11:53","guid":{"rendered":"http:\/\/www.roryc.ca\/blog\/?p=11115"},"modified":"2018-12-10T20:10:59","modified_gmt":"2018-12-11T04:10:59","slug":"more-options-purchasing-power-for-fraser-valley-homebuyers","status":"publish","type":"post","link":"https:\/\/www.roryc.ca\/blog\/2018\/12\/more-options-purchasing-power-for-fraser-valley-homebuyers\/","title":{"rendered":"More Options &#038; Purchasing Power for Fraser Valley Homebuyers"},"content":{"rendered":"<p style=\"text-align: justify;\">The southwestern British Columbian market continues to feel the impact of a markedly lower level of demand, according to the Fraser Valley Real Estate Board.<\/p>\n<p style=\"text-align: justify;\">\u201cLessening demand continues to impact our market significantly,\u201d Board president John Barbisan said. \u201cIn turn, that has given purchasing power back to buyers who now have more time and more options when it comes to making a decision.\u201d<\/p>\n<p style=\"text-align: justify;\">Overall sales last month stood at 1,028 completed deals. The Board stated that this was 11% lower compared to October 2018, and 41% compared to November last year.<\/p>\n<p style=\"text-align: justify;\">To compare, last month saw the addition of 2,077 new for-sale listings in the market. Fraser Valley\u2019s total inventory as of the end of November was 7,355 listings, representing a slight 5% decline from October but a notable 43.4% increase from last year.<\/p>\n<p style=\"text-align: justify;\">These factors are keeping prices for all housing types at reasonable levels, according to the Board. Single-family detached median prices dropped by 1.1% compared to October 2018 (down to $976,200), while townhouses experienced a miniscule 1% month-over-month shrinkage (down to $532,800).<\/p>\n<p style=\"text-align: justify;\">Apartment benchmark prices declined by 2.4% from October, settling down at $422,500.<\/p>\n<p style=\"text-align: justify;\">\u201cThe market is shifting, albeit slowly. But while buyers are enjoying a more comfortable real estate environment, sellers will have to pay attention to how these changes will affect their chances at success,\u201d Barbisan explained.<\/p>\n<p style=\"text-align: justify;\"><a href=\"https:\/\/www.canadianrealestatemagazine.ca\/news\/fraser-valleys-buyers-enjoy-more-options-purchasing-power-251629.aspx\">Fraser Valley&#8217;s Buyers Enjoy More Options and Purchasing Power<\/a> by Ephraim Vecina | Canadian Real Estate Wealth<\/p>\n","protected":false},"excerpt":{"rendered":"<p>The southwestern British Columbian market continues to feel the impact of a markedly lower level of demand, according to the Fraser Valley Real Estate Board. \u201cLessening demand continues to impact &hellip; [<a href=\"https:\/\/www.roryc.ca\/blog\/2018\/12\/more-options-purchasing-power-for-fraser-valley-homebuyers\/\">read more<\/a>]<\/p>\n","protected":false},"author":3,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[13],"tags":[],"class_list":["post-11115","post","type-post","status-publish","format-standard","hentry","category-real-estate"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.4 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>More Options &amp; 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