{"id":11367,"date":"2019-01-04T10:10:47","date_gmt":"2019-01-04T18:10:47","guid":{"rendered":"http:\/\/www.roryc.ca\/blog\/?p=11367"},"modified":"2019-01-03T16:32:04","modified_gmt":"2019-01-04T00:32:04","slug":"fraser-valley-housing-market-slows-down-in-2018","status":"publish","type":"post","link":"https:\/\/www.roryc.ca\/blog\/2019\/01\/fraser-valley-housing-market-slows-down-in-2018\/","title":{"rendered":"Fraser Valley Housing Market Slows Down in 2018"},"content":{"rendered":"<p style=\"text-align: justify;\">SURREY, BC \u2013 After three consecutive years of total annual sales surpassing 20,000 units, 2018 saw the Fraser Valley real estate market return to more typical levels for both sales and inventory.<\/p>\n<p style=\"text-align: justify;\">The Board\u2019s Multiple Listing Service\u00ae (MLS\u00ae) processed 15,586 sales in 2018, a 30.2% decrease compared to 2017\u2019s 22,338 sales and the lowest total sales for the Fraser Valley since 2013. The total dollar volume of MLS\u00ae transactions for the year was $11.8 billion, dropping from $15.7 billion sold during the year prior.<\/p>\n<p style=\"text-align: justify;\">Of the total transactions that took place in 2018, 3,866 were townhouses and 4,296 were apartments. Each of those property types saw a significant decrease in sales compared to 2017, with total townhouse sales dropping 25.6% year-over-year and apartments dropping 30.5%.<\/p>\n<p style=\"text-align: justify;\">\u201cIn terms of demand, this is around what we\u2019re used to seeing for our region,\u201d said John Barbisan, President of the Board. \u201cThere is still a great deal of interest for Fraser Valley real estate, but with prices moving slowly and more inventory becoming available, many consumers are taking a deliberate approach now that they can afford to.\u201d<\/p>\n<p style=\"text-align: justify;\">For inventory, a total of 32,058 new listings were received by the Board\u2019s MLS\u00ae system in 2018. This was the fourth highest total for new inventory in the Board\u2019s history.<\/p>\n<p style=\"text-align: justify;\">In December the Board processed a total of 800 sales, the lowest for the month since 2012. Inventory in December finished at 5,454 active units, with a total of 978 new listings entering the market throughout the month.<\/p>\n<p style=\"text-align: justify;\">Barbisan adds, \u201cWith buyers shifting into the driver\u2019s seat and able to navigate the market more comfortably, it has become key for sellers to price effectively and leverage their home\u2019s appeal to stand out and find success.\u201d<\/p>\n<p style=\"text-align: justify;\">\u201cIf you\u2019re looking to enter the market in 2019, buying or selling, contact a local REALTOR\u00ae who can help you accomplish your goals in the new year.\u201d<\/p>\n<p style=\"text-align: justify;\"><strong>HPI\u00ae Benchmark Price Activity.<\/strong><\/p>\n<p style=\"text-align: justify;\">\u2022 Single Family Detached : At $965,300, the Benchmark price for a single family detached home in the Fraser Valley decreased 1.1% compared to November 2018 and decreased 1.5% compared to December 2017.<br \/>\n\u2022 Townhomes : At $531,900, the Benchmark price for a townhome in the Fraser Valley in the Fraser Valley decreased 0.2% compared to November 2018 and increased 3.7% compared to December 2017.<br \/>\n\u2022 Apartments : At $418,300, the Benchmark price for apartments\/condos in the Fraser Valley decreased 1% compared to November 2018 and increased 7.6% compared to December 2017.<\/p>\n<p style=\"text-align: justify;\"><a href=\"http:\/\/www.fvreb.bc.ca\/statistics\/Package201812.pdf\">Click here<\/a> to view the December statistics package.<\/p>\n<p style=\"text-align: justify;\"><a href=\"http:\/\/www.fvreb.bc.ca\/statistics\/fraser-valley-housing-market-slows-down-in-2018\/\">Fraser Valley Housing Market Slows Down in 2018<\/a> by FVREB<\/p>\n","protected":false},"excerpt":{"rendered":"<p>SURREY, BC \u2013 After three consecutive years of total annual sales surpassing 20,000 units, 2018 saw the Fraser Valley real estate market return to more typical levels for both sales &hellip; [<a href=\"https:\/\/www.roryc.ca\/blog\/2019\/01\/fraser-valley-housing-market-slows-down-in-2018\/\">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":[8],"tags":[],"class_list":["post-11367","post","type-post","status-publish","format-standard","hentry","category-market-updates"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.7 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>Fraser Valley Housing Market Slows Down in 2018 &#8226; Rory C Real Estate | Oakwyn Realty<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.roryc.ca\/blog\/2019\/01\/fraser-valley-housing-market-slows-down-in-2018\/\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:title\" content=\"Fraser Valley Housing Market Slows Down in 2018 &#8226; 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