Courtesy of Wes Jamison & Brandon Hennessy

FRASER VALLEY STATS

Slower Than Normal Market Still Attracting Buyers in the Fraser Valley The Fraser Valley Real Estate Board processed 1,383 sales of all property types on its Multiple Listing Service ® (MLS ® ) in April. Of the 1,383 total sales of residential and commercial combined, 489 were residential detached homes, 379 were townhouses, and 374 were apartments. Darin Germyn, President of the Board, said of the market: “Consumers may not have the purchasing power that they did prior to January 2018, but the desire for home ownership is still there and we’re seeing that reflected in our MLS ® data. There were 7,870 active listings available in the Fraser Valley at the end of April. The Board received 3,391 new listings during the month. “A slower, stable market has had a positive impact on affordability in our region. Prices of typical residential homes in the Fraser Valley have decreased between 5 and 6 per cent in the last year. In the last three months, benchmark prices have either plateaued or have experienced a small recovery,” added Germyn. For the Fraser Valley region, single family detached homes remained on the market for an average of 37 days before selling. - Source: Fraser Valley Real Estate Board

1,361

AVERAGE SALE PRICES

$991,756 detached DOWN 8.2% year-over-year

764

717

$582,979 townhouse DOWN 5.5% year-over-year

$391,492 apartment DOWN 6.3% year-over-year

single family detached NEW LISTINGS apartment townhouse

SOLD LISTINGS 1,383

3,391 7,870

NEW LISTINGS

ACTIVE LISTINGS (residential inventory)

Stats are reflective of April 2019 Source: Fraser Valley Real Estate Board

Market values stated are of the average of Langley and surrounding region. Individual home market values will vary and are affected by factors such as location, size, interior and exterior condition. Please call to get an up-to-date evaluation of your home.

HAVE A REAL ESTATE QUESTION? CALL OR TEXT US!

WES JAMISON Associate Broker, Real Estate Professional, CNE, CRB 604-857-4880 wes@wesjamison.com

BRANDON HENNESSY Real Estate Professional, Mentor, CNE 604-862-8063 brandon@macrealty.com

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