{"id":3257,"date":"2017-11-04T19:47:04","date_gmt":"2017-11-04T19:47:04","guid":{"rendered":"https:\/\/schreders.ca\/?p=3257"},"modified":"2022-11-16T14:05:49","modified_gmt":"2022-11-16T19:05:49","slug":"demand-strong-october-langley-fraser-valley","status":"publish","type":"post","link":"https:\/\/www.schreders.ca\/blog\/demand-strong-october-langley-fraser-valley\/","title":{"rendered":"Demand Strong in October for Langley and The Fraser Valley"},"content":{"rendered":"

Strong October Demand for Townhomes and Condos in Langley & The Fraser Valley<\/h1>\n

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

Langley Real Estate Report<\/strong><\/p>\n

Those expecting the Langley and Fraser Valley<\/strong> market to cool down along with the temperature in October, will be disappointed. Ongoing demand for properties in the Fraser Valley saw overall sales reach the second highest point for an October in the Board\u2019s history. The Fraser Valley Real Estate Board saw sales of all property types on its Multiple Listing Service\u00ae (MLS\u00ae) increase 23% compared to the sales in October of last year, and an increase of 11.1% compared to the sales in September 2017.<\/u><\/u><\/p>\n

See Listed Properties in Langley BC<\/a><\/span><\/p>\n

Attached sales represented 56% of all market activity for the month, with apartment\/condo sales totaling 591 and townhomes at 418<\/strong>. Apartment activity continues to be strong with a sales-to-actives ratio of 105%, meaning that apartments are selling as fast as they can be listed<\/strong>. Combine this with active inventory decreasing by 6.3% month-over-month and you still have a very strong seller\u2019s market when it comes to attached homes. The gap between attached and detached housing continues to widen.<\/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>.<\/p>\n

See last months statistics –>> https:\/\/schreders.ca\/langley-real-estate-sees-boost-townhouse-sales-september\/<\/a><\/span><\/strong><\/span><\/p>\n

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

Abbotsford – Mission – White Rock – Langley – Delta\/North – Surrey Central – Cloverdale – Surrey\/North<\/strong><\/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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What Does FVREB Have To Say?<\/h2>\n

October fails to scare away home buyers in the Fraser Valley<\/h2>\n
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SURREY, BC \u2013 Ongoing demand for properties in the Fraser Valley saw overall sales reach the second highest point for an October in the Board\u2019s history.<\/p>\n

The Fraser Valley Real Estate Board processed 1,799 sales of all property types on its Multiple Listing Service\u00ae (MLS\u00ae) in October, an increase of 23 per cent compared to the 1,463 sales in October of last year, and an 11.1 per cent increase compared to the 1,619 sales in September 2017.<\/p>\n

Attached sales represented 56% of all market activity for the month, with apartment sales totaling 591 and townhomes at 418.<\/p>\n

\u201cThe divide between our attached and detached markets continues to widen,\u201d Gopal Sahota, Fraser Valley Real Estate Board president said. \u201cApartment activity was notably strong in October with a sales-to-actives ratio of 105 per cent, meaning that apartments are selling as fast as we can list them.\u201d<\/p><\/blockquote>\n

Last month the total active inventory for the Fraser Valley was 5,483 listings. Active inventory decreased by 6.3 per cent month-over-month, and decreased 9.1 per cent when compared to October 2016.<\/p>\n

The Board received 2,479 new listings in October, a 13 per cent decrease from September 2017, and a 12.8 per cent increase compared to October 2016\u2019s 2,197 new listings.<\/p>\n

\u201cYour real estate experience in the Valley is going to be very different depending on what you\u2019re looking for or selling,\u201d continued Sahota. \u201cRegardless, with the help of a professional REALTOR\u00ae you can understand exactly what\u2019s happening in your market and find success.\u201d<\/p><\/blockquote>\n

For the Fraser Valley region the average number of days to sell an apartment in October was 18 days, and 19 days for townhomes. Single family detached homes remained on market for an average of 31 days before selling.<\/p>\n

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