Market activity declined further in August with sales dropping to their lowest level this year.
The Fraser Valley Real Estate Board processed 1,155 sales of all property types on its Multiple Listing Service® (MLS®) in August, a decrease of 38.5 per cent compared to the 1,879 sales in August of last year, and a 10.5 per cent decrease compared to the 1,290 sales in July 2018.
Sales of attached homes continued to represent over fifty per cent of all activity in the Fraser Valley this month, with 294 townhouses and 318 apartments selling in August.
Active inventory for the Fraser Valley in July finished at 7,339 listings, decreasing 0.8 per cent month-over-month and increasing 28.5 per cent year-over-year.
2,575 new listings were received by the Board in August, an 11.8 per cent decrease from July 2018’s 2,921 new listings, and a 2.2 per cent decrease compared to August 2017’s intake.
For the Fraser Valley region, the average number of days to sell an apartment and a townhome in August was 27. Single family detached homes remained on the market for an average of 35 days before selling.
HPI® Benchmark Price Activity
Find the August Statistics Package here.
Fraser Valley Real Estate Board Sep 4 2018