Fraser Valley apartment sales reach all-time high in June

Fraser Valley Real Estate Board

SURREY, BC – While overall market activity slowed slightly in June, apartment sales reached record-breaking levels at 683 transactions for the month.

The Fraser Valley Real Estate Board processed 2,571 sales of all property types on its Multiple Listing Service® (MLS®) in June, a decrease of 10.2 per cent compared to the 2,864 sales in June of last year, and a 5 per cent decrease compared to the 2,707 sales in May 2017.

At 683 sales, apartment transactions represented 27 per cent of all sales activity in the Fraser Valley in June, increasing 13.1 per cent compared to apartment sales in June 2016 and 12.2 per cent compared to May 2017. The average number of days to sell an apartment in June was 15 days, compared to 32 at this time last year.

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Maple Ridge, Coquitlam, Port Moody and Port Coquitlam thriving with the new Evergreen Expansion line

RIDING PROFILE: Tri-Cities, Pitt Meadows and Maple Ridge

Maple Ridge, Coquitlam, Port Moody and Port Coquitlam are major municipalities in the Lower Mainland that will be the driving force grow of the economy in BC. The Evergreen Line SkyTrain extension line which joins the Downtown core to the suburbs like the many Maple Ridge allows commuters a better alternative to the usual slow car based grind.

Read more about how Maple Ridge, Coquitlam, Port Moody and Port Coquitlam are the main benefactors of the Evergreen Line Expansion at News 1130!

http://www.news1130.com/2017/05/03/riding-profile-tri-cities-pitt-meadows-maple-ridge/

BCREA Housing Market Update – June 2017

BC Real Estate Association (BCREA) Chief Economist Cameron Muir discusses the May 2017 statistics.

Taking a look into the May 2017 Real Estate Statistics including Maple Ridge, Port Coquitlam and Coquitlam. The BC Real Estate Association (BCREA) takes a closer look into the trends in Lower Mainland, Fraser Valley and other areas in BC and compares the trends.

Market activity picks up in May

News Release – June 2, 2017

Vancouver, B.C. – June 2, 2017 - Home buyer activity returned to near record levels across the Metro Vancouver housing market in May.

Residential property sales in the region totalled 4,364 in May 2017, a decrease of 8.5 per cent from the 4,769 sales in May 2016, an all-time record, and an increase of 22.8 per cent compared to April 2017 when 3,553 homes sold.

Last month’s sales were 23.7 per cent above the 10-year May sales average and is the third-highest selling May on record.

"Demand for condominiums and townhomes is driving today’s activity," Jill Oudil, Real Estate Board of Greater Vancouver (REBGV) president said. “First-time buyers and people looking to downsize from their single-family homes are both competing for these two types of housing.”

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Fraser Valley Real Estate Board Monthly Statistics Package May 2017

News Release

Fraser Valley Real Estate Board

For Immediate Release: June 2, 2017

Growing sales in Fraser Valley met with bump in new inventory

SURREY, BC – The Fraser Valley saw a much-needed increase to new housing inventory entering the market in May, supporting growing demand for residential properties in the region. Last month marked the highest level of sales for the Fraser Valley since June of last year, and the second-highest level for a May historically.

The Fraser Valley Real Estate Board processed 2,707 sales of all property types on its Multiple Listing Service® (MLS®) in May, a decrease of 7 per cent compared to the 2,911 sales in May of last year, and a 21.4 per cent increase compared to the 2,230 sales in April 2017.

Of the 2,707 sales processed last month, 620 were townhouses and 609 were apartments. Attached home sales combined continued the 10-month trend of surpassing detached sales in the region.

“The further we get into this year’s market, the less 2016 looks like an anomaly in terms of demand and sales activity. If it wasn’t clear before, the Fraser Valley is now a prime, highly sought-after destination for home owners of all types," said Gopal Sahota, Board President.

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Real Estate Sales in the Fraser Valley Strong Again in April

Fraser Valley Real Estate Board Releases April Sales Stats

The Fraser Valley Real Estate Board processed 2,230 sales of all property types on its Multiple Listing Service® (MLS®) in April, a decrease of 24.9 per cent compared to the 2,969 sales this time last year and a 0.8 per cent increase compared to the 2,213 sales in March 2017.

Of the 2,230 sales processed in April, 438 were townhouses and 567 were apartments.

Read More at Fraser Valley Real Estate Board

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