Demand for Fraser Valley properties persisted through November, once again bolstered by strong attached sales across the region.
The Fraser Valley Real Estate Board processed 1,743 sales of all property types on its Multiple Listing Service® (MLS®) in November, an increase of 39.8 per cent compared to the 1,247 sales in November of last year, and a 3.1 per cent decrease compared to the 1,799 sales in October 2017. This will mark the second highest sales total for a November in the Board’s history.
Attached sales represented 53% of all market activity for the month, with apartment sales totaling 496 and townhomes at 426.
Last month the total active inventory for the Fraser Valley was 5,129 listings. Active inventory decreased by 6.5 per cent month-over-month, and decreased 8.4 per cent when compared to November 2016.
The Board received 2,324 new listings in November, a 6.3 per cent decrease from October 2017, and a 29.7 per cent increase compared to November 2016’s 1,792 new listings.
For the Fraser Valley region the average number of days to sell an apartment in November was 17, and 21 for townhomes. Single family detached homes remained on the market for an average of 31 days before selling.
HPI® Benchmark Price Activity
Find the November Statistics Package here.
Fraser Valley Real Estate Board Dec 4 2017