Abbotsford, Mission, Surrey and Fraser Valley Real Estate Market Statistics – February

Abbotsford, Mission, Surrey and Fraser Valley Real Estate Market Statistics – February

According to the Fraser Valley Real Estate Board for the sixth consecutive month, Fraser Valley’s real estate market experienced property sales at
levels are never seen before in the 100‐year history of the Fraser Valley Real Estate Board (FVREB).

As released by the FVREB “In February, the FVREB processed a total of 2,815 sales on its Multiple Listing Service® (MLS®), an increase of 108 per cent compared to February 2020 and 64 per cent more than were processed in January 2021. To provide a historical perspective, sales in February were 88 per cent above the 10‐year average for that month; and 18 per cent higher than the previous record of 2,387 sales in February 2016.”

Chris Shields, President of the Board said of this month’s record numbers, “This is new territory for us. We have never seen such consistent and persistent demand for housing in the Fraser Valley.
“What’s fueling the demand is the combination of record‐low interest rates and the response to the pandemic. It’s not something that could have been predicted and it has created a very complex market for buyers that requires the knowledge and expertise of a professional. For family‐sized homes, prices climbed 3 to 5 per cent in February alone and sold on average in three weeks. We understand the stress and frustration with the market currently and we’re here to help guide and protect home buyers.”

Find all the infographics related to the May Market Statistics by visiting the Facebook Album.

Abbotsford

Cloverdale

Langley

Mission

North Delta

North Surrey

Surrey Central

 

White Rock / South Surrey

 

Looking for more information about the real estate market in specific neighbourhoods in Surrey, Langley and Fraser Valley

Macdonald Realty has offices in North Delta, White Rock/South Surrey, and Langley.  Please email macrealty@macrealty.com or call 1-877-278-3888 to be matched with a REALTOR® working in your area.

MLS® Home Price Index (HPI) Benchmark Price

Average and median home prices are often misinterpreted, are affected by change in the mix of homes sold, and can swing dramatically from month to month (based on the types and prices of properties that sold in a given month). The MLS® HPI overcomes these shortcomings and uses the concept of a benchmark home, a notional home with common attributes of typical homes in a defined area. Visit www.housepriceindex.ca for more information.

This blog post is based on market data provided by the Fraser Valley Real Estate Board (FVREB) www.fvreb.bc.ca

Abbotsford, Mission, Surrey and Fraser Valley Real Estate Market Statistics – January 2021

Abbotsford, Mission, Surrey and Fraser Valley Real Estate Market Statistics – January 2021

According to the Fraser Valley Real Estate Board they have registered another record‐setter for property sales.

As released by the FVREB “In a month that is usually one of the quietest in real estate, Fraser Valley’s market continued at a breakneck pace, producing the strongest January sales on record as well as a modest uptick in new listings. The Fraser Valley Real Estate Board processed a total of 1,718 sales of all property types on its Multiple Listing Service® (MLS®) in January 2021, an increase of 76%compared to January 2020 and 18% fewer than were processed in December 2020. Sales in January set a new, record high for the month; 72% above the 10‐year average, and 28% higher than the previous record of 1,338 sales set in January 2016.”

“Buyers are very motivated right now,” said Chris Shields, President of the Board, “Lending rates are the lowest they’ve ever been, your housing dollar goes further in the Fraser Valley and we’ve seen a societal shift in the last
year in how people value their homes. People are asking us to find them more space. “I am working with a young couple who want and are able to move up – from a condo to a townhome – due to interest rates and the equity they’ve gained over the last couple of years. The challenge is supply. It improved slightly in January, but we’ve got a long way to go to replenish our housing stock. It remains a seller’s market.”

Find all the infographics related to the May Market Statistics by visiting the Facebook Album.

Abbotsford

Cloverdale

Langley

Mission

North Delta

North Surrey

Surrey Central

 

White Rock / South Surrey

 

Looking for more information about the real estate market in specific neighbourhoods in Surrey, Langley and Fraser Valley

Macdonald Realty has offices in North Delta, White Rock/South Surrey, and Langley.  Please email macrealty@macrealty.com or call 1-877-278-3888 to be matched with a REALTOR® working in your area.

MLS® Home Price Index (HPI) Benchmark Price

Average and median home prices are often misinterpreted, are affected by change in the mix of homes sold, and can swing dramatically from month to month (based on the types and prices of properties that sold in a given month). The MLS® HPI overcomes these shortcomings and uses the concept of a benchmark home, a notional home with common attributes of typical homes in a defined area. Visit www.housepriceindex.ca for more information.

This blog post is based on market data provided by the Fraser Valley Real Estate Board (FVREB) www.fvreb.bc.ca

Abbotsford, Mission, Surrey and Fraser Valley Real Estate Market Statistics – December 2020

Abbotsford, Mission, Surrey and Fraser Valley Real Estate Market Statistics – December 2020

According to the Fraser Valley Real Estate Board record‐shattering December caps an unexpected year in Fraser Valley real estate.

As released by the FVREB this January “in a year when the real estate market was at a standstill for months due to COVID‐19, total annual sales in the Fraser Valley still finished 12.4% above the 10‐year average due to unrelenting, pent‐up consumer demand during the second half of 2020.  In December, the Board’s Multiple Listing Service® (MLS®) processed a staggering 2,086 sales, the strongest December on record and 81.2% above normal for the month. New listings in December, were the second-highest on record at 1,502. By month’s end, active inventory finished below typical levels, at 3,949 units.

Fraser Valley Real Estate Board reported the total sales volume for the year in Fraser Valley was 19,926; an increase of 28.7% compared to 2019’s 15,487 sales and placing it fourth-highest for annual sales since 2011.

Chris Shields, President of the Board, observes, “The pandemic upended everything in 2020 and how the real estate market responded to it was nothing short of remarkable. No one could have anticipated a six‐month stretch like we’ve just experienced. Typical seasonal cycles did not apply, how we conduct business had to change to keep the public safe; and most unexpected, has been the unwavering demand for family‐sized homes in our region and so far, there is no sign of it slowing down.”

Find all the infographics related to the May Market Statistics by visiting the Facebook Album.

Abbotsford

Cloverdale

Langley

Mission

North Delta

North Surrey

Surrey Central

White Rock / South Surrey

 

Looking for more information about the real estate market in specific neighbourhoods in Surrey, Langley and Fraser Valley

Macdonald Realty has offices in North Delta, White Rock/South Surrey, and Langley.  Please email macrealty@macrealty.com or call 1-877-278-3888 to be matched with a REALTOR® working in your area.

MLS® Home Price Index (HPI) Benchmark Price

Average and median home prices are often misinterpreted, are affected by change in the mix of homes sold, and can swing dramatically from month to month (based on the types and prices of properties that sold in a given month). The MLS® HPI overcomes these shortcomings and uses the concept of a benchmark home, a notional home with common attributes of typical homes in a defined area. Visit www.housepriceindex.ca for more information.

This blog post is based on market data provided by the Fraser Valley Real Estate Board (FVREB) www.fvreb.bc.ca

Abbotsford, Mission, Surrey and Fraser Valley Real Estate Market Statistics – November 2020

Abbotsford, Mission, Surrey and Fraser Valley Real Estate Market Statistics – November 2020

According to the Fraser Valley Real Estate Board the housing market activity reaches historic levels in November.

The Fraser Valley Real Estate Board processed 2,173 sales of all property types on its Multiple Listing Service® (MLS®) in November, an increase of 54.7% compared to the 1,405 sales in November of last year, and an 8.3% decrease month‐over‐month compared to 2,370 sales in October.

Fraser Valley Real Estate Board reported that they received 2,217 new listings in November, a 28.0% decrease compared to October’s intake and an 18.1% increase compared to the 1,877 new listings received during the same month last year. For November, it was the second-highest volume of new inventory in the last decade.

Chris Shields, President of the Board, observes, “We’re running out of superlatives. We expected November activity to moderate due to the season, but the desire for family‐sized homes and their benefits continues to dominate. Since the summer, we’ve seen the strongest demand in our Board’s 99‐year history specifically for single‐family detached and townhomes.

Find all the infographics related to the May Market Statistics by visiting the Facebook Album.

Abbotsford

Cloverdale

Langley

Mission

North Delta

North Surrey

Surrey Central

White Rock / South Surrey

 

Looking for more information about the real estate market in specific neighbourhoods in Surrey, Langley and Fraser Valley

Macdonald Realty has offices in North Delta, White Rock/South Surrey, and Langley.  Please email macrealty@macrealty.com or call 1-877-278-3888 to be matched with a REALTOR® working in your area.

MLS® Home Price Index (HPI) Benchmark Price

Average and median home prices are often misinterpreted, are affected by change in the mix of homes sold, and can swing dramatically from month to month (based on the types and prices of properties that sold in a given month). The MLS® HPI overcomes these shortcomings and uses the concept of a benchmark home, a notional home with common attributes of typical homes in a defined area. Visit www.housepriceindex.ca for more information.

This blog post is based on market data provided by the Fraser Valley Real Estate Board (FVREB) www.fvreb.bc.ca

Abbotsford, Mission, Surrey and Fraser Valley Real Estate Market Statistics – October 2020

Abbotsford, Mission, Surrey and Fraser Valley Real Estate Market Statistics – October 2020

According to the Fraser Valley Real Estate Board the housing market activity reaches historic levels in October.

The Fraser Valley Real Estate Board processed 2,370 sales of all property types on its Multiple Listing Service® (MLS®) in October, an increase of 48.9% compared to the 1,592 sales in October of last year, and a 6.2% increase month-over-month compared to the 2,231 sales in September.

Fraser Valley Real Estate Board reported that in October the board finished with 6,872 active listings, a decrease of 6.8% compared to September and a decrease of 7.1% year-over-year. Last month’s active listings were 11.9%  below the ten-year average for October.

Chris Shields, President of the Board, observes, “The situation is unprecedented. We are in the middle of a pandemic and in many of our communities we are seeing a strong seller’s market for townhomes and single-family homes priced correctly. For example, in Langley, our current supply of detached homes would sell in 1.4 months if no new listings became available. And for Mission townhomes, we have zero months of inventory.

Find all the infographics related to the May Market Statistics by visiting the Facebook Album.

Abbotsford

Cloverdale

Langley

Mission

North Delta

North Surrey

Surrey Central

White Rock / South Surrey

 

Looking for more information about the real estate market in specific neighbourhoods in Surrey, Langley and Fraser Valley

Macdonald Realty has offices in North Delta, White Rock/South Surrey, and Langley.  Please email macrealty@macrealty.com or call 1-877-278-3888 to be matched with a REALTOR® working in your area.

MLS® Home Price Index (HPI) Benchmark Price

Average and median home prices are often misinterpreted, are affected by change in the mix of homes sold, and can swing dramatically from month to month (based on the types and prices of properties that sold in a given month). The MLS® HPI overcomes these shortcomings and uses the concept of a benchmark home, a notional home with common attributes of typical homes in a defined area. Visit www.housepriceindex.ca for more information.

This blog post is based on market data provided by the Fraser Valley Real Estate Board (FVREB) www.fvreb.bc.ca

Abbotsford, Mission, Surrey and Fraser Valley Real Estate Market Statistics – September 2020

Abbotsford, Mission, Surrey and Fraser Valley Real Estate Market Statistics – September 2020

According to the Fraser Valley Real Estate Board the housing market activity reaches historic levels in September.

The Fraser Valley Real Estate Board processed 2,231 sales on its Multiple Listing Service® (MLS®) in September, an increase of 66.1% compared to the same month last year and an increase of 9.4%t compared to August
2020. This is the highest recorded sales for September in the history of FVREB.

Fraser Valley Real Estate Board reported that in the last three months, Fraser Valley has seen a defined shift in demand towards single-family detached homes with sales in July through to September garnering 47% of the three main residential types, compared to 43% during the same period last year.

Chris Shields, President of the Board, observes, “Our homes have never been more important. Across the Fraser Valley,
we’re seeing a trend towards buyers looking for more space and livability in both single‐family homes and townhomes.
“For many existing homeowners and first‐time buyers, their buying power is greater than it’s been in a long time.
Interest rates are very low, people have saved money over the last few months, and they’re choosing to invest it in their
most important asset. Sellers are also recognizing that with lower than normal inventory, this is a smart time to list.”

Find all the infographics related to the May Market Statistics by visiting the Facebook Album.

Abbotsford

Cloverdale

Langley

Mission

North Delta

North Surrey

Surrey Centra

 

White Rock / South Surrey

 

Looking for more information about the real estate market in specific neighbourhoods in Surrey, Langley and Fraser Valley

Macdonald Realty has offices in North Delta, White Rock/South Surrey, and Langley.  Please email macrealty@macrealty.com or call 1-877-278-3888 to be matched with a REALTOR® working in your area.

MLS® Home Price Index (HPI) Benchmark Price

Average and median home prices are often misinterpreted, are affected by change in the mix of homes sold, and can swing dramatically from month to month (based on the types and prices of properties that sold in a given month). The MLS® HPI overcomes these shortcomings and uses the concept of a benchmark home, a notional home with common attributes of typical homes in a defined area. Visit www.housepriceindex.ca for more information.

This blog post is based on market data provided by the Fraser Valley Real Estate Board (FVREB) www.fvreb.bc.ca