{"id":2582,"date":"2017-06-05T19:12:41","date_gmt":"2017-06-05T19:12:41","guid":{"rendered":"https:\/\/schreders.ca\/?p=2582"},"modified":"2022-11-16T14:05:50","modified_gmt":"2022-11-16T19:05:50","slug":"langley-housing-inventory-may","status":"publish","type":"post","link":"https:\/\/www.schreders.ca\/blog\/langley-housing-inventory-may\/","title":{"rendered":"Langley Saw New Housing Inventory Entering The Market in May"},"content":{"rendered":"

Langley & the Fraser Valley saw a much-needed increase to new housing inventory entering the market in May<\/h1>\n

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May 2017 STATISTICS REPORT<\/span><\/h2>\n

Inventory levels rose in May and strong sales volumes continued in the Fraser Valley in all areas of the market (single family, townhomes & condos).  Many people thought that last year\u2019s crazy activity was an anomaly and could not continue, but a very strong first five months of 2017 is proving this to be wrong.  The Fraser Valley Real Estate market is booming.<\/strong><\/p>\n

If you are considering selling or just have questions about the market<\/strong>, please give us a call today and let\u2019s chat<\/a>.<\/span><\/span><\/p>\n

Click These Buttons To Jump To That Areas Summary<\/strong><\/span>
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\"Schreder-Brothers-Real-Estate-Group---Langley-BC---Fraser-Valley-Real-Estate-Board-Statistic-Package---May-2017---Infographic\"<\/p>\n

All Fraser Valley Areas Combined<\/h2>\n

Abbotsford – Mission – White Rock – Langley – Delta\/North – Surrey Central – Cloverdale – Surrey\/North<\/p>\n

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Abbotsford<\/h2>\n

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Mission<\/h2>\n

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White Rock<\/h2>\n

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Langley<\/h2>\n

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Delta – North<\/h2>\n

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Surrey – Central<\/h2>\n

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Surrey – Cloverdale<\/h2>\n

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Surrey – North<\/h2>\n

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[ngg_images source=”galleries” display_type=”photocrati-nextgen_basic_thumbnails” override_thumbnail_settings=”1″ thumbnail_width=”150″ thumbnail_height=”150″ thumbnail_crop=”1″ images_per_page=”20″ number_of_columns=”5″ ajax_pagination=”0″ show_all_in_lightbox=”0″ use_imagebrowser_effect=”0″ show_slideshow_link=”1″ slideshow_link_text=”Statistics Graphs” order_by=”sortorder” order_direction=”ASC” returns=”included” maximum_entity_count=”500″]<\/p>\n

What Does FVREB Have To Say?<\/span><\/h2>\n

Growing sales in Fraser Valley met with bump in new inventory<\/h2>\n
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SURREY, BC \u2013 The Fraser Valley saw a much-needed increase to new housing inventory entering the market in May, supporting growing demand for residential properties in the region. Last month marked the highest level of sales for the Fraser Valley since June of last year, and the second-highest level for a May historically.<\/p>\n

The Fraser Valley Real Estate Board processed 2,707 sales of all property types on its Multiple Listing Service\u00ae (MLS\u00ae) in May, a decrease of 7 % compared to the 2,911 sales in May of last year, and a 21.4%  increase compared to the 2,230 sales in April 2017.<\/p>\n

Of the 2,707 sales processed last month, 620 were townhouses and 609 were apartments. Attached home sales combined continued the 10-month trend of surpassing detached sales in the region.<\/p>\n

\u201cThe further we get into this year\u2019s market, the less 2016 looks like an anomaly in terms of demand and sales activity. If it wasn\u2019t clear before, the Fraser Valley is now a prime, highly sought-after destination for home owners of all types,\u201d said Gopal Sahota, Board President.<\/p><\/blockquote>\n

In May the total active inventory for the Fraser Valley was 5,203 listings, a decrease of 9.5% year-over-year, and an increase of 5.9% compared to the available inventory in April 2017.<\/p>\n

The Board received 3,712 new listings in May; a 1% increase from last year\u2019s 3,674 new listing for the month, and a 25.8% increase compared to April 2017\u2019s incoming listings.<\/p>\n

\u201cWe\u2019re very happy to see the bump inventory we were looking for in April. I think sellers will certainly be glad that demand hasn\u2019t let-up since the start of the spring market and more options for potential buyers is always a good thing.\u201d<\/p><\/blockquote>\n

For the Fraser Valley region, the average number of days to sell a single family detached home in May 2017 was 23 days, compared to 16 days in May 2016.<\/p>\n

HPI\u00ae Benchmark Price Activity<\/strong><\/p>\n