{"id":25047,"date":"2024-12-09T10:10:00","date_gmt":"2024-12-09T18:10:00","guid":{"rendered":"https:\/\/www.roryc.ca\/blog\/?p=25047"},"modified":"2024-12-03T16:15:24","modified_gmt":"2024-12-04T00:15:24","slug":"overall-activity-is-picking-up-in-the-fraser-valley-in-amid-balanced-market-conditions","status":"publish","type":"post","link":"https:\/\/www.roryc.ca\/blog\/2024\/12\/overall-activity-is-picking-up-in-the-fraser-valley-in-amid-balanced-market-conditions\/","title":{"rendered":"Overall Activity is Picking Up in The Fraser Valley in Amid Balanced Market Conditions"},"content":{"rendered":"<p style=\"text-align: justify;\">SURREY, BC \u2013 Following a healthy boost in sales in October, Fraser Valley home sales dropped in November as slower seasonal buying trends set in amid balanced market conditions.<\/p>\n<p style=\"text-align: justify;\">The Fraser Valley Real Estate Board recorded 1,136 sales in November, down 15% from October, but 28% above November 2023 sales.<\/p>\n<p style=\"text-align: justify;\">\u201cBuying and selling activity is typically quiet at this time of year,\u201d said Jeff Chadha, Chair of the Fraser Valley Real Estate Board. \u201cBut it\u2019s worth noting that November 2024 sales are higher than they\u2019ve been compared to the past two Novembers \u2014 a sign that overall activity is picking up in the Fraser Valley and with it, growing buyer confidence.\u201d<\/p>\n<p style=\"text-align: justify;\">A decline in new listings chipped away at overall inventory in November, with active listings declining eight per cent to 8,125. Overall inventory, however, remains at a 10-year seasonal high and 30% above November 2023 levels. New listings dropped 26% in November to 2,367, but remain above the 10-year seasonal average and above levels from November 2023. The Fraser Valley remains in a balanced market with a sales-to-active ratio of 14%. The market is considered to be balanced when the ratio is between 12% and 20%.<\/p>\n<p style=\"text-align: justify;\">\u201cWith seasonality expected to slow sales activity towards year-end, we are optimistic that the new mortgage lending guidelines, which come into effect on December 15, will slowly start to work their way into the market,\u201d said Baldev Gill, CEO of the Fraser Valley Real Estate Board. \u201cLonger amortization periods and lower minimum down payments should help more buyers who want to get into the market in 2025.\u201d<\/p>\n<p style=\"text-align: justify;\">Across the Fraser Valley in November, the average number of days to sell a single-family detached home was 43, while for a condo it was 36. Townhomes took, on average, 33 days to sell.<\/p>\n<p style=\"text-align: justify;\">Benchmark prices in the Fraser Valley dipped for the eighth straight month in November, with the composite Benchmark price down 0.2% to $969,500.<\/p>\n<p style=\"text-align: justify;\"><strong>MLS\u00ae HPI Benchmark Price Activity<\/strong><\/p>\n<p>\u2022 Single Family Detached : At $1,482,600, the Benchmark price for an FVREB single-family detached home decreased 0.4% compared to October 2024 and decreased 0.1 per cent compared to<br \/>\nNovember 2023.<br \/>\n\u2022 Townhomes : At $835,100, the Benchmark price for an FVREB townhome increased 0.3% compared to October 2024 and decreased 0.2% compared to November 2023.<br \/>\n\u2022 Apartments : At $536,100, the Benchmark price for an FVREB apartment\/condo decreased 1.3 % compared to October 2024 and decreased 1.2% compared to November 2023.<\/p>\n<p style=\"text-align: justify;\"><a href=\"https:\/\/www.fvreb.bc.ca\/statistics\/Package202411.pdf\" target=\"_blank\" rel=\"noopener\">Click here<\/a> to view the full statistics package.<\/p>\n<p><a href=\"https:\/\/www.fvreb.bc.ca\/statistics\/fraser-valley-home-sales-returning-to-seasonal-norms-in-november-after-october-surge\/\" target=\"_blank\" rel=\"noopener\">Fraser Valley Home Sales Returning to Seasonal Norms in November After October Surge<\/a> by FVREB<\/p>\n","protected":false},"excerpt":{"rendered":"<p>SURREY, BC \u2013 Following a healthy boost in sales in October, Fraser Valley home sales dropped in November as slower seasonal buying trends set in amid balanced market conditions. The &hellip; [<a href=\"https:\/\/www.roryc.ca\/blog\/2024\/12\/overall-activity-is-picking-up-in-the-fraser-valley-in-amid-balanced-market-conditions\/\">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":[8,13],"tags":[],"class_list":["post-25047","post","type-post","status-publish","format-standard","hentry","category-market-updates","category-real-estate"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.7 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>Overall Activity is Picking Up in The Fraser Valley in Amid Balanced Market Conditions &#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\/2024\/12\/overall-activity-is-picking-up-in-the-fraser-valley-in-amid-balanced-market-conditions\/\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:title\" content=\"Overall Activity is Picking Up in The Fraser Valley in Amid Balanced Market Conditions &#8226; Rory C Real Estate | Oakwyn Realty\" \/>\n<meta name=\"twitter:description\" content=\"SURREY, BC \u2013 Following a healthy boost in sales in October, Fraser Valley home sales dropped in November as slower seasonal buying trends set in amid balanced market conditions. The &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\\\/2024\\\/12\\\/overall-activity-is-picking-up-in-the-fraser-valley-in-amid-balanced-market-conditions\\\/#article\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/www.roryc.ca\\\/blog\\\/2024\\\/12\\\/overall-activity-is-picking-up-in-the-fraser-valley-in-amid-balanced-market-conditions\\\/\"},\"author\":{\"name\":\"Rory Clipsham\",\"@id\":\"https:\\\/\\\/www.roryc.ca\\\/blog\\\/#\\\/schema\\\/person\\\/0672b9777e67473b9bd9247df49499c7\"},\"headline\":\"Overall Activity is Picking Up in The Fraser Valley in Amid Balanced Market Conditions\",\"datePublished\":\"2024-12-09T18:10:00+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\\\/\\\/www.roryc.ca\\\/blog\\\/2024\\\/12\\\/overall-activity-is-picking-up-in-the-fraser-valley-in-amid-balanced-market-conditions\\\/\"},\"wordCount\":403,\"commentCount\":0,\"publisher\":{\"@id\":\"https:\\\/\\\/www.roryc.ca\\\/blog\\\/#\\\/schema\\\/person\\\/0672b9777e67473b9bd9247df49499c7\"},\"articleSection\":[\"Market Updates\",\"Real Estate\"],\"inLanguage\":\"en-CA\",\"potentialAction\":[{\"@type\":\"CommentAction\",\"name\":\"Comment\",\"target\":[\"https:\\\/\\\/www.roryc.ca\\\/blog\\\/2024\\\/12\\\/overall-activity-is-picking-up-in-the-fraser-valley-in-amid-balanced-market-conditions\\\/#respond\"]}]},{\"@type\":\"WebPage\",\"@id\":\"https:\\\/\\\/www.roryc.ca\\\/blog\\\/2024\\\/12\\\/overall-activity-is-picking-up-in-the-fraser-valley-in-amid-balanced-market-conditions\\\/\",\"url\":\"https:\\\/\\\/www.roryc.ca\\\/blog\\\/2024\\\/12\\\/overall-activity-is-picking-up-in-the-fraser-valley-in-amid-balanced-market-conditions\\\/\",\"name\":\"Overall Activity is Picking Up in The Fraser Valley in Amid Balanced Market Conditions &#8226; Rory C Real Estate | Oakwyn Realty\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/www.roryc.ca\\\/blog\\\/#website\"},\"datePublished\":\"2024-12-09T18:10:00+00:00\",\"breadcrumb\":{\"@id\":\"https:\\\/\\\/www.roryc.ca\\\/blog\\\/2024\\\/12\\\/overall-activity-is-picking-up-in-the-fraser-valley-in-amid-balanced-market-conditions\\\/#breadcrumb\"},\"inLanguage\":\"en-CA\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\\\/\\\/www.roryc.ca\\\/blog\\\/2024\\\/12\\\/overall-activity-is-picking-up-in-the-fraser-valley-in-amid-balanced-market-conditions\\\/\"]}]},{\"@type\":\"BreadcrumbList\",\"@id\":\"https:\\\/\\\/www.roryc.ca\\\/blog\\\/2024\\\/12\\\/overall-activity-is-picking-up-in-the-fraser-valley-in-amid-balanced-market-conditions\\\/#breadcrumb\",\"itemListElement\":[{\"@type\":\"ListItem\",\"position\":1,\"name\":\"Home\",\"item\":\"https:\\\/\\\/www.roryc.ca\\\/blog\\\/\"},{\"@type\":\"ListItem\",\"position\":2,\"name\":\"Overall Activity is Picking Up in The Fraser Valley in Amid Balanced Market Conditions\"}]},{\"@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":"Overall Activity is Picking Up in The Fraser Valley in Amid Balanced Market Conditions &#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\/2024\/12\/overall-activity-is-picking-up-in-the-fraser-valley-in-amid-balanced-market-conditions\/","twitter_card":"summary_large_image","twitter_title":"Overall Activity is Picking Up in The Fraser Valley in Amid Balanced Market Conditions &#8226; Rory C Real Estate | Oakwyn Realty","twitter_description":"SURREY, BC \u2013 Following a healthy boost in sales in October, Fraser Valley home sales dropped in November as slower seasonal buying trends set in amid balanced market conditions. The &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\/2024\/12\/overall-activity-is-picking-up-in-the-fraser-valley-in-amid-balanced-market-conditions\/#article","isPartOf":{"@id":"https:\/\/www.roryc.ca\/blog\/2024\/12\/overall-activity-is-picking-up-in-the-fraser-valley-in-amid-balanced-market-conditions\/"},"author":{"name":"Rory Clipsham","@id":"https:\/\/www.roryc.ca\/blog\/#\/schema\/person\/0672b9777e67473b9bd9247df49499c7"},"headline":"Overall Activity is Picking Up in The Fraser Valley in Amid Balanced Market Conditions","datePublished":"2024-12-09T18:10:00+00:00","mainEntityOfPage":{"@id":"https:\/\/www.roryc.ca\/blog\/2024\/12\/overall-activity-is-picking-up-in-the-fraser-valley-in-amid-balanced-market-conditions\/"},"wordCount":403,"commentCount":0,"publisher":{"@id":"https:\/\/www.roryc.ca\/blog\/#\/schema\/person\/0672b9777e67473b9bd9247df49499c7"},"articleSection":["Market Updates","Real Estate"],"inLanguage":"en-CA","potentialAction":[{"@type":"CommentAction","name":"Comment","target":["https:\/\/www.roryc.ca\/blog\/2024\/12\/overall-activity-is-picking-up-in-the-fraser-valley-in-amid-balanced-market-conditions\/#respond"]}]},{"@type":"WebPage","@id":"https:\/\/www.roryc.ca\/blog\/2024\/12\/overall-activity-is-picking-up-in-the-fraser-valley-in-amid-balanced-market-conditions\/","url":"https:\/\/www.roryc.ca\/blog\/2024\/12\/overall-activity-is-picking-up-in-the-fraser-valley-in-amid-balanced-market-conditions\/","name":"Overall Activity is Picking Up in The Fraser Valley in Amid Balanced Market Conditions &#8226; Rory C Real Estate | Oakwyn Realty","isPartOf":{"@id":"https:\/\/www.roryc.ca\/blog\/#website"},"datePublished":"2024-12-09T18:10:00+00:00","breadcrumb":{"@id":"https:\/\/www.roryc.ca\/blog\/2024\/12\/overall-activity-is-picking-up-in-the-fraser-valley-in-amid-balanced-market-conditions\/#breadcrumb"},"inLanguage":"en-CA","potentialAction":[{"@type":"ReadAction","target":["https:\/\/www.roryc.ca\/blog\/2024\/12\/overall-activity-is-picking-up-in-the-fraser-valley-in-amid-balanced-market-conditions\/"]}]},{"@type":"BreadcrumbList","@id":"https:\/\/www.roryc.ca\/blog\/2024\/12\/overall-activity-is-picking-up-in-the-fraser-valley-in-amid-balanced-market-conditions\/#breadcrumb","itemListElement":[{"@type":"ListItem","position":1,"name":"Home","item":"https:\/\/www.roryc.ca\/blog\/"},{"@type":"ListItem","position":2,"name":"Overall Activity is Picking Up in The Fraser Valley in Amid Balanced Market Conditions"}]},{"@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\/25047","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=25047"}],"version-history":[{"count":1,"href":"https:\/\/www.roryc.ca\/blog\/wp-json\/wp\/v2\/posts\/25047\/revisions"}],"predecessor-version":[{"id":25049,"href":"https:\/\/www.roryc.ca\/blog\/wp-json\/wp\/v2\/posts\/25047\/revisions\/25049"}],"wp:attachment":[{"href":"https:\/\/www.roryc.ca\/blog\/wp-json\/wp\/v2\/media?parent=25047"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.roryc.ca\/blog\/wp-json\/wp\/v2\/categories?post=25047"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.roryc.ca\/blog\/wp-json\/wp\/v2\/tags?post=25047"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}