{"id":15396,"date":"2020-04-03T08:55:00","date_gmt":"2020-04-03T15:55:00","guid":{"rendered":"http:\/\/www.roryc.ca\/blog\/?p=15396"},"modified":"2020-04-02T13:10:45","modified_gmt":"2020-04-02T20:10:45","slug":"preliminary-impact-of-covid-19-on-fvreb-housing-market","status":"publish","type":"post","link":"https:\/\/www.roryc.ca\/blog\/2020\/04\/preliminary-impact-of-covid-19-on-fvreb-housing-market\/","title":{"rendered":"Preliminary Impact of COVID-19 on Fraser Valley Housing Market"},"content":{"rendered":"<p style=\"text-align: justify;\">SURREY, BC \u2013 The most up to date Multiple Listing Service\u00ae (MLS\u00ae) data from the Fraser Valley Real Estate Board (FVREB) indicates COVID-19 has put the market on pause, as REALTORS\u00ae and the public adhere to health authority rules and government guidelines on the pandemic.<\/p>\n<p style=\"text-align: justify;\">By the end of March, the FVREB processed a total of 1,441 sales on its MLS\u00ae, a 7% increase compared to sales in February 2020, and an 18% increase compared to the 1,221 sales in March 2019. During the first seven business days of the month, property sales were tracking 60% higher compared to the same period in March of last year, however finished significantly lower.<\/p>\n<p style=\"text-align: justify;\">Chris Shields, President of the Board, observes, \u201cSales were steadily increasing as is typical moving into spring, and then understandably and necessarily, they started to decline. We serve the public and we understand it is very challenging to buy or list a home while maintaining physical distancing, however if you need us, know that we are here for you.\u201d<\/p>\n<p style=\"text-align: justify;\">\u201cWe are grateful that the BC government has designated real estate an essential service, and accordingly, our industry has implemented numerous measures to mitigate and manage risk. We have suspended open houses, restricted showings, pivoted to using technology as much as possible, and are urging Realtors in the middle of completing transactions with their clients to do so electronically.\u201d<\/p>\n<p style=\"text-align: justify;\">The Board received 2,666 new listings in March, a 4% increase compared to February\u2019s intake of 2,557 new listings. In the lead up to March 10, new listings were tracking 3% higher compared to the same period last year.<\/p>\n<p style=\"text-align: justify;\">By month end, new listings finished 7% lower compared to March of last year taking the number of active listings to 6,083, an increase of 6% compared to February\u2019s inventory and a decrease of 13% year-over-year.<\/p>\n<p style=\"text-align: justify;\">Shields adds, \u201cA Realtor\u2019s duty is to protect our clients. Now, as a society, we all have a duty. We are urging consumers to follow all recommended health and government guidelines and are committed to doing our part for as long as necessary.\u201d<\/p>\n<p style=\"text-align: justify;\">In March, the average number of days to sell an apartment was 27; 28 for townhomes and 38 or single family detached.<\/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 $988,500, the Benchmark price for a single-family detached home in the Fraser Valley increased 1.7% compared to February and, also increased 2.6% compared to March 2019.<br \/>\n\u2022 Townhomes : At $549,600*, the Benchmark price for a townhome in the Fraser Valley increased 0.6% compared to February and increased 1.2% compared to March 2019.<br \/>\n*Effective Mar 2020, MLS\u00ae HPI for townhomes updated and revised back to Jan 2005<br \/>\n\u2022 Apartments : At $423,200, the Benchmark price for apartments\/condos in the Fraser Valley increased 2.0% compared to February and increased 1.2% compared to March 2019.<\/p>\n<p style=\"text-align: justify;\"><a href=\"http:\/\/fvreb.bc.ca\/statistics\/Package202003.pdf\" target=\"_blank\" rel=\"noopener noreferrer\">Click here<\/a> to view the March Statistics Package.<\/p>\n<p style=\"text-align: justify;\"><a href=\"http:\/\/www.fvreb.bc.ca\/statistics\/march-sales-and-new-listing-data-show-preliminary-impact-of-covid-19-on-fraser-valley-housing-market\/\" target=\"_blank\" rel=\"noopener noreferrer\">FVREB March Sales and New Listing Data Show Preliminary Impact of COVID-19 on Fraser Valley Housing Market<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>SURREY, BC \u2013 The most up to date Multiple Listing Service\u00ae (MLS\u00ae) data from the Fraser Valley Real Estate Board (FVREB) indicates COVID-19 has put the market on pause, as &hellip; [<a href=\"https:\/\/www.roryc.ca\/blog\/2020\/04\/preliminary-impact-of-covid-19-on-fvreb-housing-market\/\">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-15396","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>Preliminary Impact of COVID-19 on Fraser Valley Housing Market &#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\/04\/preliminary-impact-of-covid-19-on-fvreb-housing-market\/\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:title\" content=\"Preliminary Impact of COVID-19 on Fraser Valley Housing Market &#8226; Rory C Real Estate | Oakwyn Realty\" \/>\n<meta name=\"twitter:description\" content=\"SURREY, BC \u2013 The most up to date Multiple Listing Service\u00ae (MLS\u00ae) data from the Fraser Valley Real Estate Board (FVREB) indicates COVID-19 has put the market on pause, as &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\\\/04\\\/preliminary-impact-of-covid-19-on-fvreb-housing-market\\\/#article\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/www.roryc.ca\\\/blog\\\/2020\\\/04\\\/preliminary-impact-of-covid-19-on-fvreb-housing-market\\\/\"},\"author\":{\"name\":\"Rory Clipsham\",\"@id\":\"https:\\\/\\\/www.roryc.ca\\\/blog\\\/#\\\/schema\\\/person\\\/0672b9777e67473b9bd9247df49499c7\"},\"headline\":\"Preliminary Impact of COVID-19 on Fraser Valley Housing Market\",\"datePublished\":\"2020-04-03T15:55:00+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\\\/\\\/www.roryc.ca\\\/blog\\\/2020\\\/04\\\/preliminary-impact-of-covid-19-on-fvreb-housing-market\\\/\"},\"wordCount\":471,\"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\\\/04\\\/preliminary-impact-of-covid-19-on-fvreb-housing-market\\\/#respond\"]}]},{\"@type\":\"WebPage\",\"@id\":\"https:\\\/\\\/www.roryc.ca\\\/blog\\\/2020\\\/04\\\/preliminary-impact-of-covid-19-on-fvreb-housing-market\\\/\",\"url\":\"https:\\\/\\\/www.roryc.ca\\\/blog\\\/2020\\\/04\\\/preliminary-impact-of-covid-19-on-fvreb-housing-market\\\/\",\"name\":\"Preliminary Impact of COVID-19 on Fraser Valley Housing Market &#8226; Rory C Real Estate | Oakwyn Realty\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/www.roryc.ca\\\/blog\\\/#website\"},\"datePublished\":\"2020-04-03T15:55:00+00:00\",\"breadcrumb\":{\"@id\":\"https:\\\/\\\/www.roryc.ca\\\/blog\\\/2020\\\/04\\\/preliminary-impact-of-covid-19-on-fvreb-housing-market\\\/#breadcrumb\"},\"inLanguage\":\"en-CA\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\\\/\\\/www.roryc.ca\\\/blog\\\/2020\\\/04\\\/preliminary-impact-of-covid-19-on-fvreb-housing-market\\\/\"]}]},{\"@type\":\"BreadcrumbList\",\"@id\":\"https:\\\/\\\/www.roryc.ca\\\/blog\\\/2020\\\/04\\\/preliminary-impact-of-covid-19-on-fvreb-housing-market\\\/#breadcrumb\",\"itemListElement\":[{\"@type\":\"ListItem\",\"position\":1,\"name\":\"Home\",\"item\":\"https:\\\/\\\/www.roryc.ca\\\/blog\\\/\"},{\"@type\":\"ListItem\",\"position\":2,\"name\":\"Preliminary Impact of COVID-19 on Fraser Valley Housing Market\"}]},{\"@type\":\"WebSite\",\"@id\":\"https:\\\/\\\/www.roryc.ca\\\/blog\\\/#website\",\"url\":\"https:\\\/\\\/www.roryc.ca\\\/blog\\\/\",\"name\":\"Rory C Real Estate | Oakwyn Realty\",\"description\":\"Rory C Real Estate Updates | Home Selling &amp; Buying\",\"publisher\":{\"@id\":\"https:\\\/\\\/www.roryc.ca\\\/blog\\\/#\\\/schema\\\/person\\\/0672b9777e67473b9bd9247df49499c7\"},\"potentialAction\":[{\"@type\":\"SearchAction\",\"target\":{\"@type\":\"EntryPoint\",\"urlTemplate\":\"https:\\\/\\\/www.roryc.ca\\\/blog\\\/?s={search_term_string}\"},\"query-input\":{\"@type\":\"PropertyValueSpecification\",\"valueRequired\":true,\"valueName\":\"search_term_string\"}}],\"inLanguage\":\"en-CA\"},{\"@type\":[\"Person\",\"Organization\"],\"@id\":\"https:\\\/\\\/www.roryc.ca\\\/blog\\\/#\\\/schema\\\/person\\\/0672b9777e67473b9bd9247df49499c7\",\"name\":\"Rory Clipsham\",\"image\":{\"@type\":\"ImageObject\",\"inLanguage\":\"en-CA\",\"@id\":\"https:\\\/\\\/www.roryc.ca\\\/blog\\\/wp-content\\\/uploads\\\/2019\\\/10\\\/RoryC-white-w-tagline.jpg\",\"url\":\"https:\\\/\\\/www.roryc.ca\\\/blog\\\/wp-content\\\/uploads\\\/2019\\\/10\\\/RoryC-white-w-tagline.jpg\",\"contentUrl\":\"https:\\\/\\\/www.roryc.ca\\\/blog\\\/wp-content\\\/uploads\\\/2019\\\/10\\\/RoryC-white-w-tagline.jpg\",\"width\":504,\"height\":504,\"caption\":\"Rory Clipsham\"},\"logo\":{\"@id\":\"https:\\\/\\\/www.roryc.ca\\\/blog\\\/wp-content\\\/uploads\\\/2019\\\/10\\\/RoryC-white-w-tagline.jpg\"},\"sameAs\":[\"http:\\\/\\\/www.roryc.ca\\\/\",\"https:\\\/\\\/www.facebook.com\\\/pg\\\/BurnabyandCoquitlamHomes\\\/about\\\/?ref=page_internal\",\"https:\\\/\\\/www.instagram.com\\\/roryclipshamhomes\\\/\",\"https:\\\/\\\/x.com\\\/RoryClipsham\"]}]}<\/script>\n<!-- \/ Yoast SEO plugin. -->","yoast_head_json":{"title":"Preliminary Impact of COVID-19 on Fraser Valley Housing Market &#8226; Rory C Real Estate | Oakwyn Realty","robots":{"index":"index","follow":"follow","max-snippet":"max-snippet:-1","max-image-preview":"max-image-preview:large","max-video-preview":"max-video-preview:-1"},"canonical":"https:\/\/www.roryc.ca\/blog\/2020\/04\/preliminary-impact-of-covid-19-on-fvreb-housing-market\/","twitter_card":"summary_large_image","twitter_title":"Preliminary Impact of COVID-19 on Fraser Valley Housing Market &#8226; Rory C Real Estate | Oakwyn Realty","twitter_description":"SURREY, BC \u2013 The most up to date Multiple Listing Service\u00ae (MLS\u00ae) data from the Fraser Valley Real Estate Board (FVREB) indicates COVID-19 has put the market on pause, as &hellip; [read more]","twitter_creator":"@RoryClipsham","twitter_site":"@RoryClipsham","twitter_misc":{"Written by":"Rory Clipsham","Est. reading time":"2 minutes"},"schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"Article","@id":"https:\/\/www.roryc.ca\/blog\/2020\/04\/preliminary-impact-of-covid-19-on-fvreb-housing-market\/#article","isPartOf":{"@id":"https:\/\/www.roryc.ca\/blog\/2020\/04\/preliminary-impact-of-covid-19-on-fvreb-housing-market\/"},"author":{"name":"Rory Clipsham","@id":"https:\/\/www.roryc.ca\/blog\/#\/schema\/person\/0672b9777e67473b9bd9247df49499c7"},"headline":"Preliminary Impact of COVID-19 on Fraser Valley Housing Market","datePublished":"2020-04-03T15:55:00+00:00","mainEntityOfPage":{"@id":"https:\/\/www.roryc.ca\/blog\/2020\/04\/preliminary-impact-of-covid-19-on-fvreb-housing-market\/"},"wordCount":471,"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\/04\/preliminary-impact-of-covid-19-on-fvreb-housing-market\/#respond"]}]},{"@type":"WebPage","@id":"https:\/\/www.roryc.ca\/blog\/2020\/04\/preliminary-impact-of-covid-19-on-fvreb-housing-market\/","url":"https:\/\/www.roryc.ca\/blog\/2020\/04\/preliminary-impact-of-covid-19-on-fvreb-housing-market\/","name":"Preliminary Impact of COVID-19 on Fraser Valley Housing Market &#8226; Rory C Real Estate | Oakwyn Realty","isPartOf":{"@id":"https:\/\/www.roryc.ca\/blog\/#website"},"datePublished":"2020-04-03T15:55:00+00:00","breadcrumb":{"@id":"https:\/\/www.roryc.ca\/blog\/2020\/04\/preliminary-impact-of-covid-19-on-fvreb-housing-market\/#breadcrumb"},"inLanguage":"en-CA","potentialAction":[{"@type":"ReadAction","target":["https:\/\/www.roryc.ca\/blog\/2020\/04\/preliminary-impact-of-covid-19-on-fvreb-housing-market\/"]}]},{"@type":"BreadcrumbList","@id":"https:\/\/www.roryc.ca\/blog\/2020\/04\/preliminary-impact-of-covid-19-on-fvreb-housing-market\/#breadcrumb","itemListElement":[{"@type":"ListItem","position":1,"name":"Home","item":"https:\/\/www.roryc.ca\/blog\/"},{"@type":"ListItem","position":2,"name":"Preliminary Impact of COVID-19 on Fraser Valley Housing Market"}]},{"@type":"WebSite","@id":"https:\/\/www.roryc.ca\/blog\/#website","url":"https:\/\/www.roryc.ca\/blog\/","name":"Rory C Real Estate | Oakwyn Realty","description":"Rory C Real Estate Updates | Home Selling &amp; Buying","publisher":{"@id":"https:\/\/www.roryc.ca\/blog\/#\/schema\/person\/0672b9777e67473b9bd9247df49499c7"},"potentialAction":[{"@type":"SearchAction","target":{"@type":"EntryPoint","urlTemplate":"https:\/\/www.roryc.ca\/blog\/?s={search_term_string}"},"query-input":{"@type":"PropertyValueSpecification","valueRequired":true,"valueName":"search_term_string"}}],"inLanguage":"en-CA"},{"@type":["Person","Organization"],"@id":"https:\/\/www.roryc.ca\/blog\/#\/schema\/person\/0672b9777e67473b9bd9247df49499c7","name":"Rory Clipsham","image":{"@type":"ImageObject","inLanguage":"en-CA","@id":"https:\/\/www.roryc.ca\/blog\/wp-content\/uploads\/2019\/10\/RoryC-white-w-tagline.jpg","url":"https:\/\/www.roryc.ca\/blog\/wp-content\/uploads\/2019\/10\/RoryC-white-w-tagline.jpg","contentUrl":"https:\/\/www.roryc.ca\/blog\/wp-content\/uploads\/2019\/10\/RoryC-white-w-tagline.jpg","width":504,"height":504,"caption":"Rory Clipsham"},"logo":{"@id":"https:\/\/www.roryc.ca\/blog\/wp-content\/uploads\/2019\/10\/RoryC-white-w-tagline.jpg"},"sameAs":["http:\/\/www.roryc.ca\/","https:\/\/www.facebook.com\/pg\/BurnabyandCoquitlamHomes\/about\/?ref=page_internal","https:\/\/www.instagram.com\/roryclipshamhomes\/","https:\/\/x.com\/RoryClipsham"]}]}},"_links":{"self":[{"href":"https:\/\/www.roryc.ca\/blog\/wp-json\/wp\/v2\/posts\/15396","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.roryc.ca\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.roryc.ca\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.roryc.ca\/blog\/wp-json\/wp\/v2\/users\/3"}],"replies":[{"embeddable":true,"href":"https:\/\/www.roryc.ca\/blog\/wp-json\/wp\/v2\/comments?post=15396"}],"version-history":[{"count":2,"href":"https:\/\/www.roryc.ca\/blog\/wp-json\/wp\/v2\/posts\/15396\/revisions"}],"predecessor-version":[{"id":15399,"href":"https:\/\/www.roryc.ca\/blog\/wp-json\/wp\/v2\/posts\/15396\/revisions\/15399"}],"wp:attachment":[{"href":"https:\/\/www.roryc.ca\/blog\/wp-json\/wp\/v2\/media?parent=15396"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.roryc.ca\/blog\/wp-json\/wp\/v2\/categories?post=15396"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.roryc.ca\/blog\/wp-json\/wp\/v2\/tags?post=15396"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}