{"id":5454,"date":"2019-02-05T03:36:49","date_gmt":"2019-02-05T03:36:49","guid":{"rendered":"https:\/\/schreders.ca\/?p=5454"},"modified":"2022-11-16T14:05:47","modified_gmt":"2022-11-16T19:05:47","slug":"fraser-valley-real-estate-market-january-2019","status":"publish","type":"post","link":"https:\/\/www.schreders.ca\/blog\/fraser-valley-real-estate-market-january-2019\/","title":{"rendered":"Fraser Valley Real Estate Market January 2019"},"content":{"rendered":"

The Fraser Valley real estate market overall inventory levels continued to recover as market activity remained moderate through January.<\/h1>\n

[alert type=”info” dismiss=””]This article is optimized for Accelerated Mobile Pages<\/span><\/a> (AMP)<\/strong>[\/alert]<\/p>\n

JANUARY 2019 STATISTICS REPORT<\/span><\/h2>\n

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

The month of January tends to start slowly and this January was no different. There were 5,995 active listings available in the Fraser Valley at the end of January, an increase of 9.9 per cent compared to December 2018\u2019s inventory and an increase of 51.3 per cent year-over-year. Of those 5,995 active listings, 2,609 were added in January. There is a lot of inventory to choose from out there.<\/p>\n

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

The Fraser Valley Real Estate Board processed 784 sales of all property types on its Multiple Listing Service\u00ae (MLS\u00ae) in January, a 2 per cent decrease compared to sales in December 2018, and a 35.2 per cent decrease compared to the 1,210 sales in January of last year. Of the 784 total sales, 250 were residential detached homes, 190 were townhouses, and 257 were apartments. This is the first time in the Board\u2019s history that apartments have outsold residential detached homes during a month.<\/p>\n

High levels of inventory means more options for buyers. However, we are noticing many accepted offers and multiple offers still occurring on accurately priced inventory. Buyers who are hesitating are seeing themselves miss out on great opportunities.<\/p>\n

Inventory is taking longer to sell with apartments taking an average of 45 days and townhomes taking 44 days. Detached homes remain on market for an average of 55 days before selling.<\/p>\n

In Langley, a sellers best bet is 5 to 6 bedroom detached homes in Aldergrove & Fort Langley. Walnut Grove is still seeing a sellers market as well. Campbell Valley and Langley City are currently in a buyers market.<\/p>\n

When it comes to the attached market, a sellers best bet is a 3 bedroom property in Walnut Grove or Willoughby Heights. Fort Langley and Langley City are also in a sellers market. Aldergrove is currently in a buyers market with 4 bedroom homes between $600,000 \u2013 700,000 being the best bet for purchasers.<\/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-december-2018\/<\/a><\/strong><\/span><\/p>\n

Click These Buttons To Jump To That Areas Summary<\/strong><\/span>
\n

<\/a><\/div><\/a> – 
<\/a><\/div><\/a> – 
<\/a><\/div> <\/a>– 
<\/a><\/div><\/a> – 
<\/a><\/div><\/a> – 
<\/a><\/div><\/a> – 
<\/a><\/div><\/a> – 
<\/a><\/div><\/a> – 
<\/a><\/div><\/a><\/p>\n

\"Schreder-Brothers-Real-Estate-The-Fraser-Valley-Real-Estate-Board-Report-Infographic---January-2019\"<\/a>.<\/span><\/p>\n

<\/h2>\n

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

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

\"Schreder-Brothers-Real-Estate-Group---Langley-BC---Fraser-Valley-Real-Estate-Board-Statistic-Package---January<\/a><\/p>\n

Click These Buttons To Jump To That Areas Summary<\/strong><\/span><\/p>\n

<\/a><\/div><\/a> – 
<\/a><\/div><\/a> – 
<\/a><\/div> <\/a>– 
<\/a><\/div><\/a> – 
<\/a><\/div><\/a> – 
<\/a><\/div><\/a> – 
<\/a><\/div><\/a> – 
<\/a><\/div><\/a> – 
<\/a><\/div><\/a><\/p>\n

Abbotsford<\/h2>\n

\"Schreder-Brothers-Real-Estate-Group---Langley-BC---Fraser-Valley-Real-Estate-Board-Statistic-Package---January<\/a><\/p>\n

Click These Buttons To Jump To That Areas Summary<\/strong><\/span><\/p>\n

<\/a><\/div><\/a> – 
<\/a><\/div><\/a> – 
<\/a><\/div> <\/a>– 
<\/a><\/div><\/a> – 
<\/a><\/div><\/a> – 
<\/a><\/div><\/a> – 
<\/a><\/div><\/a> – 
<\/a><\/div><\/a> – 
<\/a><\/div><\/a><\/p>\n

Mission<\/h2>\n

\"Schreder-Brothers-Real-Estate-Group---Langley-BC---Fraser-Valley-Real-Estate-Board-Statistic-Package---January<\/a><\/p>\n

Click These Buttons To Jump To That Areas Summary<\/strong><\/span><\/p>\n

<\/a><\/div><\/a> – 
<\/a><\/div><\/a> – 
<\/a><\/div> <\/a>– 
<\/a><\/div><\/a> – 
<\/a><\/div><\/a> – 
<\/a><\/div><\/a> – 
<\/a><\/div><\/a> – 
<\/a><\/div><\/a> – 
<\/a><\/div><\/a><\/p>\n

White Rock \/ South Surrey<\/h2>\n

\"Schreder-Brothers-Real-Estate-Group---Langley-BC---Fraser-Valley-Real-Estate-Board-Statistic-Package---January<\/a><\/p>\n

Click These Buttons To Jump To That Areas Summary<\/strong><\/span><\/p>\n

<\/a><\/div><\/a> – 
<\/a><\/div><\/a> – 
<\/a><\/div> <\/a>– 
<\/a><\/div><\/a> – 
<\/a><\/div><\/a> – 
<\/a><\/div><\/a> – 
<\/a><\/div><\/a> – 
<\/a><\/div><\/a> – 
<\/a><\/div><\/a><\/p>\n

Langley<\/h2>\n

\"Schreder-Brothers-Real-Estate-Group---Langley-BC---Fraser-Valley-Real-Estate-Board-Statistic-Package---January<\/a><\/p>\n

Click These Buttons To Jump To That Areas Summary<\/strong><\/span><\/p>\n

<\/a><\/div><\/a> – 
<\/a><\/div><\/a> – 
<\/a><\/div> <\/a>– 
<\/a><\/div><\/a> – 
<\/a><\/div><\/a> – 
<\/a><\/div><\/a> – 
<\/a><\/div><\/a> – 
<\/a><\/div><\/a> – 
<\/a><\/div><\/a><\/p>\n

Delta – North<\/h2>\n

\"Schreder-Brothers-Real-Estate-Group---Langley-BC---Fraser-Valley-Real-Estate-Board-Statistic-Package---January<\/a><\/p>\n

Click These Buttons To Jump To That Areas Summary<\/strong><\/span><\/p>\n

<\/a><\/div><\/a> – 
<\/a><\/div><\/a> – 
<\/a><\/div> <\/a>– 
<\/a><\/div><\/a> – 
<\/a><\/div><\/a> – 
<\/a><\/div><\/a> – 
<\/a><\/div><\/a> – 
<\/a><\/div><\/a> – 
<\/a><\/div><\/a><\/p>\n

Surrey – Central<\/h2>\n

\"Schreder-Brothers-Real-Estate-Group---Langley-BC---Fraser-Valley-Real-Estate-Board-Statistic-Package---January<\/a><\/p>\n

Click These Buttons To Jump To That Areas Summary<\/strong><\/span><\/p>\n

<\/a><\/div><\/a> – 
<\/a><\/div><\/a> – 
<\/a><\/div> <\/a>– 
<\/a><\/div><\/a> – 
<\/a><\/div><\/a> – 
<\/a><\/div><\/a> – 
<\/a><\/div><\/a> – 
<\/a><\/div><\/a> – 
<\/a><\/div><\/a><\/p>\n

Surrey – Cloverdale<\/h2>\n

\"Schreder-Brothers-Real-Estate-Group---Langley-BC---Fraser-Valley-Real-Estate-Board-Statistic-Package---January<\/a><\/p>\n

Click These Buttons To Jump To That Areas Summary<\/strong><\/span><\/p>\n

<\/a><\/div><\/a> – 
<\/a><\/div><\/a> – 
<\/a><\/div> <\/a>– 
<\/a><\/div><\/a> – 
<\/a><\/div><\/a> – 
<\/a><\/div><\/a> – 
<\/a><\/div><\/a> – 
<\/a><\/div><\/a> – 
<\/a><\/div><\/a><\/p>\n

Surrey – North<\/h2>\n

\"Schreder-Brothers-Real-Estate-Group---Langley-BC---Fraser-Valley-Real-Estate-Board-Statistic-Package---January<\/a><\/p>\n

<\/h2>\n

What Does The Fraser Valley Real Estate Board Have To Say?<\/h2>\n

Inventory rises and apartment sales take lead during modest January market<\/h1>\n
\n
\n
\n
\n
\n
\n

SURREY, BC \u2013 Overall inventory levels continued to recover as market activity remained moderate through January.<\/p>\n

The Fraser Valley Real Estate Board processed 784 sales of all property types on its Multiple Listing Service\u00ae (MLS\u00ae) in January, a 2 per cent decrease compared to sales in December 2018, and a 35.2 per cent decrease compared to the 1,210 sales in January of last year.<\/p>\n

Of the 784 total sales, 250 were residential detached homes, 190 were townhouses, and 257 were apartments. This is the first time in the Board\u2019s history that apartments have outsold residential detached homes during a month.<\/p>\n

\u201cThis remains a challenging environment for buyers and sellers alike,\u201d said John Barbisan, President of the Board. \u201cFactors such as reduced buying power, changing expectations for pricing, and a recovering inventory are all having an impact.\u201d<\/p>\n

There were 5,995 active listings available in the Fraser Valley at the end of January, an increase of 9.9 per cent compared to December 2018\u2019s inventory and an increase of 51.3 per cent year-over-year.<\/p>\n

Additionally, 2,609 new listings were received by the Board for the month, a significant increase compared to December 2018\u2019s intake of 978 new listings and a 24.7 per cent increase compared year-over-year.<\/p>\n

\u201cHistorically, January months start slowly, and 2019 is following that trend,\u201d explained Barbisan. \u201cPricing for each of our major residential property types remains either stable or decreased in most areas. This isn\u2019t necessarily indicative of what\u2019s to come in 2019, but it reinforces the need to be aware of what\u2019s happening in your local market in order to be effective.\u201d<\/p>\n

For the Fraser Valley region, the average number of days to sell an apartment in January was 45, and 44 for townhomes. Single family detached homes remained on the market for an average of 55 days before selling.<\/p>\n

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