{"id":15103,"date":"2020-03-04T10:10:00","date_gmt":"2020-03-04T18:10:00","guid":{"rendered":"http:\/\/www.roryc.ca\/blog\/?p=15103"},"modified":"2020-03-03T14:13:54","modified_gmt":"2020-03-03T22:13:54","slug":"fvreb-february-home-sales-outpace-new-listings","status":"publish","type":"post","link":"https:\/\/www.roryc.ca\/blog\/2020\/03\/fvreb-february-home-sales-outpace-new-listings\/","title":{"rendered":"FVREB February Home Sales Outpace New Listings"},"content":{"rendered":"<p style=\"text-align: justify;\">SURREY, BC \u2013 In February, property sales in the Fraser Valley finished slightly above the 10-year average for the month, while new listings came in 3% below, keeping overall inventory at historically below-average levels.<\/p>\n<p style=\"text-align: justify;\">The Fraser Valley Real Estate Board processed 1,352 sales of all property types on its Multiple Listing Service\u00ae (MLS\u00ae) in February, a 39% increase compared to sales in January 2020, and a 38% increase compared to the 982 sales in February of last year.<\/p>\n<p style=\"text-align: justify;\">Of the 1,352 total MLS\u00ae sales of residential and commercial combined in the Fraser Valley, 534 were single family detached homes, 341 were townhouses, and 315 were apartments.<\/p>\n<p style=\"text-align: justify;\">\u201cSupply is a challenge currently in some areas and for certain property types. In February, in Langley for example, for every 10 active townhomes, six sold. In Cloverdale, there were 26 active condo listings last month; and 20 sold,\u201d said Darin Germyn, President of the Board.<\/p>\n<p style=\"text-align: justify;\">There were 5,741 active listings available in the Fraser Valley at the end of February, an increase of 12% compared to January\u2019s inventory and a decrease of 10 per cent year-over-year.<\/p>\n<p style=\"text-align: justify;\">Additionally, 2,557 new listings were received by the Board for the month, a 15% increase compared to January\u2019s intake of 2,216 new listings and a 15% decrease compared to February of last year.<\/p>\n<p style=\"text-align: justify;\">\u201cWe are seeing more traffic at open houses, more multiple offers and a slight increase in year-over-year prices, so if you\u2019ve been thinking about selling, talk to your local REALTOR\u00ae to find out if it\u2019s the right time for you,\u201d observed Germyn. \u201cAnother indicator we look at is how long it takes to sell a home and in February, the three main residential property types sold on average six days faster than last year.\u201d<\/p>\n<p style=\"text-align: justify;\">For the Fraser Valley region, the average number of days to sell an apartment in February was 35, and 33 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>MLS\u00ae HPI Benchmark Price Activity<\/strong><\/p>\n<p style=\"text-align: justify;\">\u2022 Single Family Detached : At $971,300, the Benchmark price for a single-family detached home in the Fraser Valley increased 1.1% compared to January and, also increased 1.3% compared to February 2019.<br \/>\n\u2022 Townhomes : At $523,200*, the Benchmark price for a townhome in the Fraser Valley increased 1.0% compared to January and increased 1.4% compared to February 2019.<br \/>\n\u2022 Apartments : At $414,500, the Benchmark price for apartments\/condos in the Fraser Valley increased 1.5% compared to January and increased 1.2% compared to February 2019.<\/p>\n<p style=\"text-align: justify;\"><a href=\"http:\/\/fvreb.bc.ca\/statistics\/Package202002.pdf\" target=\"_blank\" rel=\"noopener noreferrer\">Click here<\/a> to view the February Statistics Package.<\/p>\n<p><a href=\"https:\/\/www.fvreb.bc.ca\/statistics\/february-home-sales-outpace-new-listings-in-fraser-valley\/\" target=\"_blank\" rel=\"noopener noreferrer\">February Home Sales Outpace New Listings in Fraser Valley<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>SURREY, BC \u2013 In February, property sales in the Fraser Valley finished slightly above the 10-year average for the month, while new listings came in 3% below, keeping overall inventory &hellip; [<a href=\"https:\/\/www.roryc.ca\/blog\/2020\/03\/fvreb-february-home-sales-outpace-new-listings\/\">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-15103","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 February Home Sales Outpace New Listings &#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\/2020\/03\/fvreb-february-home-sales-outpace-new-listings\/\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:title\" content=\"FVREB February Home Sales Outpace New Listings &#8226; Rory C Real Estate | Oakwyn Realty\" \/>\n<meta name=\"twitter:description\" content=\"SURREY, BC \u2013 In February, property sales in the Fraser Valley finished slightly above the 10-year average for the month, while new listings came in 3% below, keeping overall inventory &hellip; [read more]\" \/>\n<meta name=\"twitter:creator\" content=\"@RoryClipsham\" \/>\n<meta name=\"twitter:site\" content=\"@RoryClipsham\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Rory Clipsham\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"2 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\\\/\\\/www.roryc.ca\\\/blog\\\/2020\\\/03\\\/fvreb-february-home-sales-outpace-new-listings\\\/#article\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/www.roryc.ca\\\/blog\\\/2020\\\/03\\\/fvreb-february-home-sales-outpace-new-listings\\\/\"},\"author\":{\"name\":\"Rory Clipsham\",\"@id\":\"https:\\\/\\\/www.roryc.ca\\\/blog\\\/#\\\/schema\\\/person\\\/0672b9777e67473b9bd9247df49499c7\"},\"headline\":\"FVREB February Home Sales Outpace New Listings\",\"datePublished\":\"2020-03-04T18:10:00+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\\\/\\\/www.roryc.ca\\\/blog\\\/2020\\\/03\\\/fvreb-february-home-sales-outpace-new-listings\\\/\"},\"wordCount\":405,\"commentCount\":0,\"publisher\":{\"@id\":\"https:\\\/\\\/www.roryc.ca\\\/blog\\\/#\\\/schema\\\/person\\\/0672b9777e67473b9bd9247df49499c7\"},\"articleSection\":[\"Market Updates\"],\"inLanguage\":\"en-CA\",\"potentialAction\":[{\"@type\":\"CommentAction\",\"name\":\"Comment\",\"target\":[\"https:\\\/\\\/www.roryc.ca\\\/blog\\\/2020\\\/03\\\/fvreb-february-home-sales-outpace-new-listings\\\/#respond\"]}]},{\"@type\":\"WebPage\",\"@id\":\"https:\\\/\\\/www.roryc.ca\\\/blog\\\/2020\\\/03\\\/fvreb-february-home-sales-outpace-new-listings\\\/\",\"url\":\"https:\\\/\\\/www.roryc.ca\\\/blog\\\/2020\\\/03\\\/fvreb-february-home-sales-outpace-new-listings\\\/\",\"name\":\"FVREB February Home Sales Outpace New Listings &#8226; 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