{"id":4356,"date":"2018-09-06T04:53:17","date_gmt":"2018-09-06T04:53:17","guid":{"rendered":"https:\/\/schreders.ca\/?p=4356"},"modified":"2022-11-16T14:05:47","modified_gmt":"2022-11-16T19:05:47","slug":"fraser-valley-real-estate-market-august-2018","status":"publish","type":"post","link":"https:\/\/www.schreders.ca\/blog\/fraser-valley-real-estate-market-august-2018\/","title":{"rendered":"Fraser Valley Real Estate Market August 2018"},"content":{"rendered":"

Buyers have a great selection to choose from in a slower paced Fraser Valley market<\/h1>\n

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

Fraser Valley Real Estate Report<\/strong><\/p>\n

Active inventory for the Fraser Valley in July finished at 7,339 listings, decreasing 0.8 per cent month-over-month and increasing 28.5 per cent year-over-year. This shows that there are many homes available for purchase, giving buyers a great selection to choose from in a slower paced market.<\/p>\n

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

Sales continued to decline and reached their lowest level this year. The Fraser Valley Real Estate Board processed 1,155 sales of all property types on its Multiple Listing Service\u00ae (MLS\u00ae) in August, a decrease of 38.5 per cent compared to the 1,879 sales in August of last year, and a 10.5 per cent decrease compared to the 1,290 sales in July 2018.<\/p>\n

With affordability being a concern and increased mortgage rates, it is no surprise that sales in the attached market (townhomes and apartments) represent 53% of all activity in the Fraser Valley this month. 294 sales were townhouses and 318 sales were apartments.<\/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\/fraser-valley-real-estate-market-july-2018\/<\/a><\/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 \/ South Surrey<\/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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Fraser Valley sees further decline in activity in August<\/h2>\n
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SURREY, BC \u2013 Market activity declined further in August with sales dropping to their lowest level this year.<\/p>\n

The Fraser Valley Real Estate Board processed 1,155 sales of all property types on its Multiple Listing Service\u00ae (MLS\u00ae) in August, a decrease of 38.5 per cent compared to the 1,879 sales in August of last year, and a 10.5 per cent decrease compared to the 1,290 sales in July 2018.<\/p>\n

Sales of attached homes continued to represent over fifty per cent of all activity in the Fraser Valley this month, with 294 townhouses and 318 apartments selling in August.<\/p>\n

\u201cWith demand slowing down and prices staying put, both buyers and sellers can expect to see an easing of competition with less multiple offer situations,\u201d said John Barbisan, President of the Board. \u201cRight now, effective pricing is key and will be the determining factor for a successful transaction.\u201d<\/p><\/blockquote>\n

Active inventory for the Fraser Valley in July finished at 7,339 listings, decreasing 0.8 per cent month-over-month and increasing 28.5 per cent year-over-year.<\/p>\n

2,575 new listings were received by the Board in August, an 11.8 per cent decrease from July 2018\u2019s 2,921 new listings, and a 2.2 per cent decrease compared to August 2017\u2019s intake.<\/p>\n

\u201cOur market continues to open up the further we get into the year, and that means you can make more considered, informed decisions if you\u2019re looking to jump in,\u201d continued Barbisan. \u201cThe best first step you can take is talking to a local REALTOR\u00ae who can help you determine your options and a plan forward.\u201d<\/p><\/blockquote>\n

For the Fraser Valley region, the average number of days to sell an apartment and a townhome in August was 27. Single family detached homes remained on the market for an average of 35 days before selling.<\/p>\n

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