{"id":12245,"date":"2019-04-08T08:33:14","date_gmt":"2019-04-08T15:33:14","guid":{"rendered":"http:\/\/www.roryc.ca\/blog\/?p=12245"},"modified":"2019-04-08T08:53:12","modified_gmt":"2019-04-08T15:53:12","slug":"fvreb-sees-typical-spring-increase-in-sales","status":"publish","type":"post","link":"https:\/\/www.roryc.ca\/blog\/2019\/04\/fvreb-sees-typical-spring-increase-in-sales\/","title":{"rendered":"FVREB Sees Typical Spring Increase in Sales"},"content":{"rendered":"<p style=\"text-align: justify;\">SURREY, BC \u2013 Last month, buyers in the Fraser Valley took advantage of the continued stability in home prices and the highest inventory levels for March since 2015.<\/p>\n<p style=\"text-align: justify;\">The Fraser Valley Real Estate Board processed 1,221 sales of all property types on its Multiple Listing Service\u00ae (MLS\u00ae) in March, a 24.3% increase compared to sales in February 2019, and a 26.6% decrease compared to the 1,664 sales in March of last year. Of the 1,221 total sales, 462 were residential detached homes, 300 were townhouses, and 346 were apartments. This was the lowest sales total for the Board during March since 2013.<\/p>\n<p style=\"text-align: justify;\">Darin Germyn, President of the Board, said of the market : \u201cFrom a buyer\u2019s perspective, there are more opportunities available as we move deeper into spring. Many of our communities are seeing higher inventory levels, especially in the attached market with the number of available townhomes almost doubling and Fraser Valley condos more than doubling compared to last year.\u201d<\/p>\n<p style=\"text-align: justify;\">There were 7,011 active listings available in the Fraser Valley at the end of March, an increase of 9.4 per cent compared to February 2019\u2019s inventory and an increase of 46.2 per cent year-over-year.<\/p>\n<p style=\"text-align: justify;\">The Board received 2,872 new listings during the month, a 29.6% increase compared to February 2019\u2019s intake of 2,216 new listings and a 0.2% increase compared year-over-year.<\/p>\n<p style=\"text-align: justify;\">\u201cOne of the reasons our market has remained stable is simply due to affordability. Although prices have increased dramatically over the last ten years, during the last twelve months we\u2019ve seen prices for all major residential property types in the Fraser Valley decrease between four and five per cent. This is good news for buyers,\u201d continued Germyn.<\/p>\n<p style=\"text-align: justify;\">For the Fraser Valley region, the average number of days to sell an apartment in March was 38, and 29 for townhomes. Single family detached homes remained on the market for an average of 38 days before selling.<\/p>\n<p style=\"text-align: justify;\">\u00a0 <a href=\"https:\/\/www.roryc.ca\/blog\/2019\/04\/fvreb-sees-typical-spring-increase-in-sales\/fvreb-blog\/\" rel=\"attachment wp-att-12246\"><img loading=\"lazy\" decoding=\"async\" class=\"alignnone  wp-image-12246\" src=\"https:\/\/www.roryc.ca\/blog\/wp-content\/uploads\/2019\/04\/FVREB-blog-288x171.jpg\" alt=\"\" width=\"600\" height=\"356\" srcset=\"https:\/\/www.roryc.ca\/blog\/wp-content\/uploads\/2019\/04\/FVREB-blog-288x171.jpg 288w, https:\/\/www.roryc.ca\/blog\/wp-content\/uploads\/2019\/04\/FVREB-blog.jpg 688w\" sizes=\"auto, (max-width: 600px) 100vw, 600px\" \/><\/a><\/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 $963,100, the Benchmark price for a single family detached home in the Fraser Valley increased 0.4% compared to February 2019 and decreased 4.2% compared to March 2018.<br \/>\n\u2022 Townhomes : At $517,300, the Benchmark price for a townhome in the Fraser Valley in the Fraser Valley increased 0.3% compared to February 2019 and decreased 4.5% compared to March 2018.<br \/>\n\u2022 Apartments : At $418,000, the Benchmark price for apartments\/condos in the Fraser Valley increased 2% compared to February 2019 and decreased 5.1% compared to March 2018.<\/p>\n<p style=\"text-align: justify;\"><a href=\"http:\/\/fvreb.bc.ca\/statistics\/Package201903.pdf\" target=\"_blank\" rel=\"noopener noreferrer\">Click here<\/a> to view the March Statistics Package.<\/p>\n<p style=\"text-align: justify;\"><a href=\"https:\/\/www.fvreb.bc.ca\/statistics\/fraser-valley-market-sees-typical-spring-increase-in-march-sales\/\" target=\"_blank\" rel=\"noopener noreferrer\">Fraser Valley Market Sees Typical Spring Increase in March Sales<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>SURREY, BC \u2013 Last month, buyers in the Fraser Valley took advantage of the continued stability in home prices and the highest inventory levels for March since 2015. The Fraser &hellip; [<a href=\"https:\/\/www.roryc.ca\/blog\/2019\/04\/fvreb-sees-typical-spring-increase-in-sales\/\">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-12245","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>FVREB Sees Typical Spring Increase in Sales &#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\/04\/fvreb-sees-typical-spring-increase-in-sales\/\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:title\" content=\"FVREB Sees Typical Spring Increase in Sales &#8226; Rory C Real Estate | Oakwyn Realty\" \/>\n<meta name=\"twitter:description\" content=\"SURREY, BC \u2013 Last month, buyers in the Fraser Valley took advantage of the continued stability in home prices and the highest inventory levels for March since 2015. 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