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.
Spring market bolsters MLS® activity in Fraser Valley
Home sales increased in April, with the Fraser Valley Real Estate Board reporting 1,366 sales processed through its Multiple Listing Service® (MLS®), an increase of 21.1 per cent compared to March’s 1,128 sales, but still lagging behind April 2012’s 1,435 sales.
“Historically, sales and listings activity noticeably increases during the spring months and April was no exception,” explains Ron Todson, President of the Board. “What’s different this year is that a number of external factors, such as tighter credit rules and the government’s spotlight on consumer debt have made some consumers more cautious about buying or selling a property. However, for those who need to move to a bigger or smaller home or to another community before summer hits, its business as usual because when you need a home, you need a home.”
Undecided? Fraser valley REALTORS® invite voters to all-candidates’ meetings
The Fraser Valley Real Estate Board (FVREB) is sponsoring nine all-candidates’ meetings across the region in advance of BC’s provincial election on May 14.
Organized by local chambers of commerce and the Surrey Board of Trade, the events are taking place in Abbotsford, Mission, Langley City and Township, Surrey, North Delta and White Rock and cover 15 electoral ridings.
Ron Todson is president of the FVREB. “This is a seminal election with many new candidates in every riding. For many citizens, these meetings may be their only opportunity to see and hear people who will be their representatives in the legislature after May 14.”
Lower inventory keeps home prices in check as ‘slow but steady’ market continues
In March, the Fraser Valley Real Estate Board processed 1,128 sales on its Multiple Listing Service® (MLS®), a 20 per cent decrease compared to the 1,412 sales during the same month last year, and a 24 per cent increase compared to February’s 913 sales.
The Board also received 11 per cent fewer new listings in March compared to last year – 2,736 compared to 3,066 – keeping inventory in check. March finished with 9,503 active listings, 1.5 per cent fewer than March of last year and 3.5 per cent fewer than the 9,832 available during March of 2009; the highest volume of active listings for that month in the last decade.
Ron Todson, President of the Board, explains, “Although we saw a typical spring uptick in activity from February to March, our sales remained at about 70 per cent of the norm for March and our new listings came in at 90 per cent of what the Board would typically receive.
Positive signs Fraser Valley housing market is starting to move
Sales on Fraser Valley’s Multiple Listing Service® (MLS®) in February experienced a typical ‘early spring’ surge, increasing by 48 per cent in one month going from 617 sales in January to 913 last month. However year-over-year, they reflect a decrease of 28 per cent compared to the 1,269 sales processed in February 2012. Since last September, home sales have idled at levels last seen in the early 2000s.
Based on February’s increase in activity, Ron Todson, President of the Board, is guardedly optimistic, “We’re seeing signals that the stand-off between buyers and sellers over the last six months is coming to an end.
“Business has picked up in the last month with increased traffic at open houses, sellers quicker to accept offers and homes selling on average two weeks faster than they did in January.”
‘Neighbourly’ REALTORS® abound in Surrey
The Fraser Valley Real Estate Board (FVREB) presented its highest honours for community giving at its Annual General Meeting, February 20 at the Coast Hotel & Convention Centre in Langley.
For the first time, the individual and corporate REALTORS® Make Good Neighbours awards recipients were from the same office. The individual award went to REALTOR® Lucky Gill with her brokerage Sutton Group – West Coast Realty, Surrey receiving recognition for being the most community-minded office in the Fraser Valley.
Board president Scott Olson explains how important these awards are, “REALTORS® not only help people realize the dream of home ownership, an average of 65 per cent also volunteer their time and skills to help improve their communities.