The Fraser Valley real estate market continued to show strength in April, reaching the highest sales level for the region in the past ten months.
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.
Gopal Sahota, President of the Board, on the pace of the market in April,
Total active inventory for the Fraser Valley last month was 4,913 listings, the lowest seen for an April in ten years. Inventory levels decreased 13.8 per cent when compared to April 2016, but did increase slightly by 2.2 per cent month-over-month.
The Board received 2,950 new listings in April, a 4 per cent decrease from March 2017, and a 25.2 per cent decrease compared to April 2016’s 3,942 incoming listings.
For the Fraser Valley region, the average number of days to sell a single family detached home in April 2017 was 26 days, compared to 15 days in April of last year.
HPI® Benchmark Price Activity
Single Family Detached:
Find the April Statistics Package here.
Fraser Valley Real Estate Board May 2 2017