The Fraser Valley Real Estate Board is an association of more than 2,900 real estate professionals who live and work in the communities of North Delta, Surrey, White Rock, Langley, Abbotsford, and Mission.

FRASER VALLEY REAL ESTATE MARKET PICKS UP IN JUNE

Sales processed on the Fraser Valley Real Estate Board’s Multiple Listing Service (MLS®) increased by 23 per cent in one month going from 1,477 sales in May to 1,815 in June. June’s numbers represent an 8 per cent decrease compared to the 1,982 sales during the same month last year.

Deanna Horn, president of the Board, says, “Historically, it’s not unusual for June sales to outperform May in the Fraser Valley. This has happened in nine of the last twenty years.

MAJORITY OF ATTACHED HOMES IN FRASER VALLEY FALL UNDER HST THRESHOLD

The Fraser Valley will offer buyers of new homes noticeable savings after July 1 when the Harmonized Sales Tax (HST) comes into effect, according to the Fraser Valley Real Estate Board.

Deanna Horn, President of the board explains, “Since the majority of new townhomes, apartments, as well as select, new single family homes in our region sell for less than $525,000, the BC new housing rebate threshold in BC, the impact of the new HST will be lessened.”

FRASER VALLEY BUYERS ENJOY ABUNDANT SELECTION

Property buyers continued to see an increase in selection while sellers faced more competition as listings grew and sales decreased on Fraser Valley’s Multiple Listing Service® (MLS®) in May. 

The Fraser Valley Real Estate Board posted 1,477 sales in May, a decrease of 2 per cent compared to the 1,501 sales processed on the MLS® during May 2009. At the same time, the Board received 3,457 new listings, taking the number of active listings to 11,411, an increase of 14 per cent compared to the 10,047 listings available during May of last year.  

Deanna Horn, president of the Board, puts the numbers into context. “May’s sales were 16 per cent below our ten-year average, 1,760 sales for that month. Considering how busy the market has been in the last decade that represents solid sales activity, slower yes, but steady. " 

BUSY HOUSING MARKET MEANS MORE CHOICE FOR FRASER VALLEY BUYERS

The Fraser Valley Real Estate Board's Multiple Listing Service (MLS®) saw close to record levels of listings in April, in addition to strong sales and prices.

Deanna Horn, president of the Board, says, "This is a typical, healthy spring market for the Fraser Valley. We received an abundance of new listings in all price categories giving buyers tremendous opportunity, while sellers saw a typical detached home sell in an average of 40 days for 13 per cent more than in April of last year."

BUYER’S MARKET CONTINUES IN FRASER VALLEY

With plenty of selection and relatively modest price increases, buyers are enjoying a healthy spring market in the Fraser Valley. The Board’s Multiple Listing Service® (MLS®) recorded 1,565 sales in March, an increase of 30 per cent over February’s sales and an increase of 56 per cent over the 1,006 sales processed March of last year.

Deanna Horn, president of the Board says, “March sales volumes can fluctuate as much as the weather, and this year’s reached the mid-point between the highs and lows seen over the last decade."