{"id":12495,"date":"2019-05-03T08:33:20","date_gmt":"2019-05-03T15:33:20","guid":{"rendered":"http:\/\/www.roryc.ca\/blog\/?p=12495"},"modified":"2019-05-02T13:13:52","modified_gmt":"2019-05-02T20:13:52","slug":"slower-than-normal-market-still-attracting-buyers-in-the-fraser-valley","status":"publish","type":"post","link":"https:\/\/www.roryc.ca\/blog\/2019\/05\/slower-than-normal-market-still-attracting-buyers-in-the-fraser-valley\/","title":{"rendered":"Slower Than Normal Market Still Attracting Buyers in The Fraser Valley"},"content":{"rendered":"<p style=\"text-align: justify;\">SURREY, BC \u2013 The Fraser Valley real estate market experienced its second slowest April in ten years and yet sales of certain property types and price ranges remain solid.<\/p>\n<p style=\"text-align: justify;\">The Fraser Valley Real Estate Board processed 1,383 sales of all property types on its Multiple Listing Service\u00ae (MLS\u00ae) in April, a 13.3% increase compared to sales in March 2019, and a 19% decrease compared to the 1,708 sales in April of last year. Of the 1,383 total sales of residential and commercial combined, 489 were residential detached homes, 379 were townhouses, and 374 were apartments.<\/p>\n<p style=\"text-align: justify;\">Darin Germyn, President of the Board, said of the market: \u201cConsumers may not have the purchasing power that they did prior to January 2018, but the desire for home ownership is still there and we\u2019re seeing that reflected in our MLS\u00ae data.<\/p>\n<p style=\"text-align: justify;\">\u201cDetached homes under one million dollars and attached homes \u2013 ranging from $400,000 to $700,000 \u2013 continue to attract buyers in the Fraser Valley. Townhome sales in Abbotsford increased by almost 60% compared to March and were on par with last year\u2019s April sales.\u201d<\/p>\n<p style=\"text-align: justify;\">There were 7,870 active listings available in the Fraser Valley at the end of April, an increase of 12.3% compared to March 2019\u2019s inventory and an increase of 38.9% year-over-year.<\/p>\n<p style=\"text-align: justify;\">The Board received 3,391 new listings during the month, an 18.1% increase compared to March 2019\u2019s intake of 2,872 new listings and a decrease of 1.1% compared to April of last year.<\/p>\n<p style=\"text-align: justify;\">\u201cA slower, stable market has had a positive impact on affordability in our region. Prices of typical residential homes in the Fraser Valley have decreased between 5% and 6% in the last year. In the last three months, benchmark prices have either plateaued or have experienced a small recovery,\u201d added Germyn.<\/p>\n<p style=\"text-align: justify;\">For the Fraser Valley region, the average number of days to sell an apartment in April was 37, and 31 for townhomes. Single family detached homes remained on the market for an average of 37 days before selling.<\/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 $964,600, the Benchmark price for a single family detached home in the Fraser Valley increased 0.2% compared to March 2019 and decreased 4.8% compared to April 2018.<br \/>\n\u2022 Townhomes : At $521,800 the Benchmark price for a townhome in the Fraser Valley in the Fraser Valley increased 0.9% compared to March 2019 and decreased 5.1% compared to April 2018.<br \/>\n\u2022 Apartments : At $420,700, the Benchmark price for apartments\/condos in the Fraser Valley increased 0.6% compared to March 2019 and decreased 6% compared to April 2018.<\/p>\n<p style=\"text-align: justify;\"><a href=\"http:\/\/fvreb.bc.ca\/statistics\/Package201904.pdf\" target=\"_blank\" rel=\"noopener noreferrer\">Click here<\/a> to view the April Statistics Package.<\/p>\n<p style=\"text-align: justify;\"><a href=\"https:\/\/www.fvreb.bc.ca\/statistics\/slower-than-normal-market-still-attracting-buyers-in-the-fraser-valley\/\" target=\"_blank\" rel=\"noopener noreferrer\">Slower Than Normal Market Still Attracting Buyers in The Fraser Valley<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>SURREY, BC \u2013 The Fraser Valley real estate market experienced its second slowest April in ten years and yet sales of certain property types and price ranges remain solid. The &hellip; [<a href=\"https:\/\/www.roryc.ca\/blog\/2019\/05\/slower-than-normal-market-still-attracting-buyers-in-the-fraser-valley\/\">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-12495","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>Slower Than Normal Market Still Attracting Buyers in The Fraser Valley &#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\/05\/slower-than-normal-market-still-attracting-buyers-in-the-fraser-valley\/\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:title\" content=\"Slower Than Normal Market Still Attracting Buyers in The Fraser Valley &#8226; Rory C Real Estate | Oakwyn Realty\" \/>\n<meta name=\"twitter:description\" content=\"SURREY, BC \u2013 The Fraser Valley real estate market experienced its second slowest April in ten years and yet sales of certain property types and price ranges remain solid. 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