{"id":16517,"date":"2020-09-14T10:10:00","date_gmt":"2020-09-14T17:10:00","guid":{"rendered":"http:\/\/www.roryc.ca\/blog\/?p=16517"},"modified":"2020-09-14T09:06:35","modified_gmt":"2020-09-14T16:06:35","slug":"fvreb-home-sales-new-listings-continue-to-set-records","status":"publish","type":"post","link":"https:\/\/www.roryc.ca\/blog\/2020\/09\/fvreb-home-sales-new-listings-continue-to-set-records\/","title":{"rendered":"FVREB Home Sales &#038; New Listings Continue to Set Records"},"content":{"rendered":"\n<p><\/p>\n\n\n<p style=\"text-align: justify;\">SURREY, BC \u2013 The Fraser Valley Real Estate Board\u2019s Multiple Listing Service\u00ae (MLS\u00ae) saw the second highest number of property sales and the highest number of new listings in August within the last two decades, when 2,298 sales were recorded in August 2005.<\/p>\n<p style=\"text-align: justify;\">The FVREB processed a total of 2,039 sales in August, a decrease of 2.9% compared to sales in July, but an increase of 57.2% compared to the 1,297 sales during August of last year. Last month\u2019s sales were 39% above the ten-year average for August, representing the highest August in the last decade and second only to what was recorded back in August 2005.<\/p>\n<p style=\"text-align: justify;\">Chris Shields, President of the Board, indicated that, \u201cwe are seeing better sales volumes increase month over month because buyers are recognizing that the Fraser Valley offers increased choice and diversified housing opportunities, while offering more value as well.\u201d<\/p>\n<p style=\"text-align: justify;\">\u201cIn an unusual situation given the pandemic, we remain cautiously optimistic and are encouraged by the numbers we are seeing,\u201d added Shields.<\/p>\n<p style=\"text-align: justify;\">The Fraser Valley Board received 3,309 new listings in August, a 6.8% decrease compared to July\u2019s intake of 3,549 new listings and a 40.4% increase compared to August of last year. August\u2019s new listings were 28.9% above the ten-year average for the month, the highest in the last ten years. Last month finished with 7,404 active listings, an increase of 0.9% compared to July\u2019s inventory and a decrease of 7.9% year-over-year.<\/p>\n<p style=\"text-align: justify;\">Baldev Gill, Chief Executive Officer of the Board, adds, \u201cthe highly competitive market with multiple offers and shorter days on market for various properties, provides further indication of the role REALTORS\u00ae are playing in this market. What we hear from our Realtor members is how consumers are seeking their guidance, advice and expertise during these unusual times.\u201d<\/p>\n<p style=\"text-align: justify;\">In August, the average number of days to sell an apartment was 36; 24 for townhomes, and 31 for 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 $1,019,600, the Benchmark price for a single-family detached home in the Fraser Valley increased 1.2% compared to July and, increased 6.9% compared to August 2019.<br \/>\u2022 Townhomes : At $563,900, the Benchmark price for a townhome in the Fraser Valley increased 0.1% compared to July and increased 3% compared to August 2019.<br \/>\u2022 Apartments : At $437,300, the Benchmark price for apartments\/condos in the Fraser Valley remain unchanged compared to July and increased 4% compared to August 2019.<\/p>\n<p style=\"text-align: justify;\"><a href=\"http:\/\/fvreb.bc.ca\/statistics\/Package202008.pdf\" target=\"_blank\" rel=\"noopener noreferrer\">Click here<\/a> to view the August Statistics Package.<\/p>\n<p style=\"text-align: justify;\"><a href=\"https:\/\/www.fvreb.bc.ca\/statistics\/sales-and-new-listings-continue-to-set-records-in-the-fraser-valley\/\" target=\"_blank\" rel=\"noopener noreferrer\">Sales &amp; New Listings Continue to Set Records in The Fraser Valley<\/a><\/p>","protected":false},"excerpt":{"rendered":"<p>SURREY, BC \u2013 The Fraser Valley Real Estate Board\u2019s Multiple Listing Service\u00ae (MLS\u00ae) saw the second highest number of property sales and the highest number of new listings in August &hellip; [<a href=\"https:\/\/www.roryc.ca\/blog\/2020\/09\/fvreb-home-sales-new-listings-continue-to-set-records\/\">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-16517","post","type-post","status-publish","format-standard","hentry","category-market-updates"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.4 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>FVREB Home Sales &amp; New Listings Continue to Set Records &#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\/09\/fvreb-home-sales-new-listings-continue-to-set-records\/\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:title\" content=\"FVREB Home Sales &amp; 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