{"id":13379,"date":"2019-08-08T08:55:05","date_gmt":"2019-08-08T15:55:05","guid":{"rendered":"http:\/\/www.roryc.ca\/blog\/?p=13379"},"modified":"2019-08-07T12:55:40","modified_gmt":"2019-08-07T19:55:40","slug":"fvreb-home-sales-rebound","status":"publish","type":"post","link":"https:\/\/www.roryc.ca\/blog\/2019\/08\/fvreb-home-sales-rebound\/","title":{"rendered":"FVREB Home Sales Rebound"},"content":{"rendered":"<p style=\"text-align: justify;\">SURREY, BC \u2013 A noticeable lift in home sales and slight decrease in new listings bolstered the Fraser Valley housing market in July.<\/p>\n<p style=\"text-align: justify;\">The Fraser Valley Real Estate Board processed 1,458 sales of all property types on its Multiple Listing Service\u00ae (MLS\u00ae) in July, a 11.6% increase compared to sales in June 2019, and a 13% increase compared to the 1,290 sales in July of last year.<\/p>\n<p style=\"text-align: justify;\">Chris Shields, President-Elect of the Board, observed, \u201cWe\u2019ve been expecting market improvement, but didn\u2019t quite anticipate July\u2019s momentum. We\u2019ve gone from the worst June in almost 20 years to a July that\u2019s only slightly below the 10-year average. For both buyers and sellers, a return to an active, more balanced market is welcome news.\u201d<\/p>\n<p style=\"text-align: justify;\">\u201cWe attribute the change in July to pent-up demand and an increase in consumer confidence. REALTORS\u00ae in our market saw more activity at open houses and an increase in the number of first-time buyers. Data from our informal member market poll in July showed the highest level of first-time buyer purchases in the Fraser Valley since early 2016.\u201d<\/p>\n<p style=\"text-align: justify;\">There were 8,340 active listings available in the Fraser Valley at the end of July, an increase of 12.7% compared to July of last year and a decrease of 2.1% compared to June 2019. The Board received 2,797 new listings in July, a 0.5% decrease compared to June 2019\u2019s intake of 2,810 new listings and a 4.2% decrease compared to July of last year.<\/p>\n<p style=\"text-align: justify;\">\u201cSales of single family detached in our region increased by over 18% in July compared to last year,\u201d added Shields. \u201cSellers are now recognizing that although listing prices are down, it\u2019s also now more affordable to buy.\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 $957,400, the Benchmark price for a single-family detached home in the Fraser Valley decreased 0.3% compared to June 2019 and decreased 6.3% compared to July 2018.<br \/>\n\u2022 Townhomes : At $520,700, the Benchmark price for a townhome in the Fraser Valley in the Fraser Valley decreased 0.9% compared to June 2019 and decreased 6.6% compared to July 2018.<br \/>\n\u2022 Apartments : At $409,700, the Benchmark price for apartments\/condos in the Fraser Valley remained unchanged compared to June 2019 and decreased 9% compared to July 2018.<\/p>\n<p style=\"text-align: justify;\">For the Fraser Valley region, the average number of days to sell an apartment in July was 37.9, and 31.7 for townhomes. Single family detached homes remained on the market for an average of 38.6 days before selling.<\/p>\n<p style=\"text-align: justify;\"><a href=\"http:\/\/fvreb.bc.ca\/statistics\/Package201907.pdf\" target=\"_blank\" rel=\"noopener noreferrer\">Click here<\/a> to view the July Statistics Package.<\/p>\n<p style=\"text-align: justify;\"><a href=\"http:\/\/www.fvreb.bc.ca\/statistics\/fraser-valley-home-sales-rebound-in-july-after-lackluster-june\/\" target=\"_blank\" rel=\"noopener noreferrer\">Fraser Valley Home Sales Rebound in July After Lackluster June<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>SURREY, BC \u2013 A noticeable lift in home sales and slight decrease in new listings bolstered the Fraser Valley housing market in July. The Fraser Valley Real Estate Board processed &hellip; [<a href=\"https:\/\/www.roryc.ca\/blog\/2019\/08\/fvreb-home-sales-rebound\/\">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-13379","post","type-post","status-publish","format-standard","hentry","category-market-updates"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.5 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>FVREB Home Sales Rebound &#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\/08\/fvreb-home-sales-rebound\/\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:title\" content=\"FVREB Home Sales Rebound &#8226; Rory C Real Estate | Oakwyn Realty\" \/>\n<meta name=\"twitter:description\" content=\"SURREY, BC \u2013 A noticeable lift in home sales and slight decrease in new listings bolstered the Fraser Valley housing market in July. 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