By Bryan Yu, Central 1 Chief Economist As Fraser Valley REALTORS® are aware, your region, along with Metro Vancouver as a whole, has experienced robust demand for housing for much of the past year. The drivers have been well established. A combination of sharp mortgage rate declines and a pandemic shift in household needs propelled [...]
Property sales in the Fraser Valley were solid in August – in fact, the second highest ever for the month – which is remarkable considering buyers didn’t have a lot to choose from. That’s the focus in this edition of Eye on the Market. Board President, Larry Anderson headed to one of the fastest growing [...]
SURREY, BC – Demand for Fraser Valley real estate remained elevated in August reaching the second highest sales ever for the month against a backdrop of decreasing supply. The Board processed a total of 2,087 property sales on its Multiple Listing Service® (MLS®) in August, an increase of 4.0 per cent compared to July [...]
For our July ‘Eye on the Market’, we headed to one of the most famous – and sought-after – communities in the Fraser Valley. Cloverdale is the third largest community within Surrey and is famous for it’s rodeo, railway, and historic charm. As Board President, Larry Anderson, explains, certain housing market trends in Cloverdale reflect [...]
SURREY, BC – Market activity in the Fraser Valley – both sales and new listings – softened in July, however buyers continued to significantly outnumber sellers resulting in inventory reaching the lowest for the month since 1981. The Board processed a total of 2,006 property sales on its Multiple Listing Service® (MLS®) in July, [...]
Our record-breaking sales streak ended in June and it likely wasn’t a surprise to REALTORS®. You see the trends while the data is happening. The market, albeit still busy, is cooling, and the proof is in the numbers. Here’s our Board President at one of the most beautiful – and popular! – spots in all [...]
SURREY, BC – Sales on the Fraser Valley Real Estate Board’s Multiple Listing Service® (MLS®) remained robust in June however, for the first time since last September, monthly sales did not break a historical record. In June, the Board processed 2,247 sales on its MLS®, a decrease of 24 per cent compared to May [...]
Another month. Another property sales record for the Fraser Valley. But, as Larry Anderson points out in May’s ‘Eye on the Market’, there are definitive signs that changes in the market are already underway. Hint: home prices. Our Board President headed to two iconic locations in North Delta to showcase our May market statistics. Run [...]
SURREY, BC – Fraser Valley’s extraordinary pandemic real estate market continued to break sales records – for the ninth consecutive month – while at the same time, reaching near-historic levels of new listings in May. In May, the Fraser Valley Real Estate Board (FVREB) processed 2,951 sales on its Multiple Listing Service® (MLS®), an increase [...]
You know, but how do you convince your sellers?We’re hearing anecdotally from REALTORS® that the market is shifting. Demand remains very high for certain property types in a number of locations, but as more supply comes on stream, it is helping to soften the frenzy. Members are telling us that they’re seeing fewer inquires [...]
