{"id":3640,"date":"2018-03-04T00:57:25","date_gmt":"2018-03-04T00:57:25","guid":{"rendered":"https:\/\/schreders.ca\/?p=3640"},"modified":"2022-11-16T14:05:48","modified_gmt":"2022-11-16T19:05:48","slug":"february-remained-well-ten-year-average","status":"publish","type":"post","link":"https:\/\/www.schreders.ca\/blog\/february-remained-well-ten-year-average\/","title":{"rendered":"Supply in February Remained Well Below The Ten-Year Average"},"content":{"rendered":"

Overall, supply in February remained well below the ten-year average for the month, historically<\/h1>\n

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February 2018 STATISTICS REPORT<\/span><\/h2>\n

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

Overall supply in February remained well below the ten-year average for the month historically, despite slight increases to both active and new inventory in the Valley. The Fraser Valley Real Estate Board processed 1,385 sales of all property types on its Multiple Listing Service\u00ae (MLS\u00ae) in February, a decrease of 0.8% compared to the 1,396 sales in February of last year, and a 14.5% increase compared to the 1,210 sales in January 2018.<\/p>\n

The attached inventory (apartments and townhomes) are still experiencing a very hot market, with limited supply, perpetuating a strong sellers market. Of the 1,385 sales processed last month 336 were townhouses and 379 were apartments, together representing 52% of all transactions in February.<\/p>\n

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

For the Fraser Valley region the average number of days to sell an apartment in February was 13, and 16 for townhomes, reaffirming how quickly buyers must act when searching for this type of housing in this market. In comparison, single family detached homes remained on the market for an average of 38 days before selling.<\/p>\n

If you are considering selling, buying 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\/january-2018-third-highest-sales-fvreb-history\/<\/span><\/a><\/strong><\/span><\/p>\n

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All Fraser Valley Areas Combined<\/h2>\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 The Fraser Valley Real Estate Board Have To Say?<\/h2>\n
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Lack of supply continues to command Fraser Valley housing market<\/h2>\n
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SURREY, BC \u2013 Despite slight increases in both active and new inventory in the Valley, overall supply in February remained well below the ten-year average for the month historically.<\/p>\n

The Fraser Valley Real Estate Board processed 1,385 sales of all property types on its Multiple Listing Service\u00ae (MLS\u00ae) in February, a decrease of 0.8 per cent compared to the 1,396 sales in February of last year, and a 14.5 per cent increase compared to the 1,210 sales in January 2018.<\/p>\n

Of the 1,385 sales processed last month, 336 were townhouses and 379 were apartments, together representing 52 per cent of all transactions in February.<\/p>\n

\u201cAttached apartment inventory, in particular, has struggled to keep up with the shift in demand we saw prominently throughout last year,\u201d said John Barbisan, Board President. \u201cWithout sufficient supply, it has become increasingly challenging for buyers looking to enter the market at that level.\u201d<\/p><\/blockquote>\n

Active inventory for the Fraser Valley finished at 4,340 listings last month, increasing 9.5 per cent month-over-month, and decreasing 6.6 per cent when compared to February 2017. The 10-year average for February active inventory is 7,487 units.<\/p>\n

The Board received 2,293 new listings in February, a 9.6 per cent increase from January 2018\u2019s 2,092 new listings, and a 5.6 per cent increase compared to February 2017.<\/p>\n

\u201cWith the sales-to-actives ratio for townhomes and apartments at 67 per cent and 75 per cent respectively, sellers can expect interest if they price their homes effectively. Talk to your REALTOR\u00ae who can evaluate your local market and find the right price point for success.\u201d<\/p><\/blockquote>\n

For the Fraser Valley region the average number of days to sell an apartment in February was 13, and 16 for townhomes. Single family detached homes remained on the market for an average of 38 days before selling.<\/p>\n

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