Reece Falk

RE/MAX Treeland Realty

Cell 604-312-9313

Office 604-533-3491

Email: reecefalk@gmail.com

Fraser Valley Market Report Infographics

Friday, May 15, 2020 6:51:29 PM UTC
INFOGRAPHICS: April 2020 FVREB Fraser Valley, South Surrey, Etc. Market Reports
INFOGRAPHICS: April 2020 FVREB Fraser Valley, South Surrey, Etc. Market Reports

Fraser Valley real estate market contracts and adapts in response to public health measures to mitigate COVID-19.

As anticipated, real estate activity saw a steep decline last month in response to the pandemic lockdown, resulting in one of the slowest Aprils in Fraser Valley history.

The Fraser Valley Real Estate Board (FVREB) processed a total of 688 sales on its Multiple Listing Service® (MLS®) in April, a decrease of 52% compared to sales in March and a decrease of 50% compared to April of last year. According to FVREB historical data, last month’s sales were on par with April sales in 1983 through to 1985; and new listings are in line with numbers last seen in April 1981.

Read the full report on the FVREB website.

 


 

The following data is a comparison between April 2019 and April 2020 numbers, and is current as of May 2020. For last month’s report, check out our previous infographic!

Or follow this link for all our FVREB Infographics!

These infographics cover current trends in Fraser Valley neighbourhoods that are within the FVREB. Click on the images for a larger view! (Protip: Make sure to grab the printable PDF version, too! It fits best when printed on A4-sized sheets, AND we’ve added an area on the sheet where you can attach your business card! 🙂 )

Download Printable Version – FVREB April 2020 Market Report

 

 

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INFOGRAPHICS: March 2020 FVREB Fraser Valley, South Surrey, Etc. Market Reports
INFOGRAPHICS: March 2020 FVREB Fraser Valley, South Surrey, Etc. Market Reports

The last few weeks have been challenging for just about everyone, and we hope that you are all healthy and well during this time. For now, here are this month’s market updates for the Fraser Valley Real Estate Board (FVREB)!

As indicated in their latest media release, March sales and new listing data is showing the preliminary impact of COVID-19 on Fraser Valley housing market.

The most up to date Multiple Listing Service® (MLS®) data from the FVREB indicates COVID-19 has put the market on pause, as REALTORS® and the public adhere to health authority rules and government guidelines on the pandemic.

By the end of March, the FVREB processed a total of 1,441 sales on its MLS®, a 7% increase compared to sales in February 2020, and an 18% increase compared to the 1,221 sales in March 2019. During the first seven business days of the month, property sales were tracking 60% higher compared to the same period in March of last year, however finished significantly lower.

The Board received 2,666 new listings in March, a 4% increase compared to February’s intake of 2,557 new listings. In the lead up to March 10, new listings were tracking 3% higher compared to the same period last year.

By month end, new listings finished 7% lower compared to March of last year taking the number of active listings to 6,083, an increase of 6% compared to February’s inventory and a decrease of 13% year-over-year.

As noted by Chris Shields, President of the Board,

“Sales were steadily increasing as is typical moving into spring, and then understandably and necessarily, they started to decline. We serve the public and we understand it is very challenging to buy or list a home while maintaining physical distancing, however if you need us, know that we are here for you.

We are grateful that the BC government has designated real estate an essential service, and accordingly, our industry has implemented numerous measures to mitigate and manage risk. We have suspended open houses, restricted showings, pivoted to using technology as much as possible, and are urging Realtors in the middle of completing transactions with their clients to do so electronically.

A Realtor’s duty is to protect our clients. Now, as a society, we all have a duty. We are urging consumers to follow all recommended health and government guidelines and are committed to doing our part for as long as necessary.”

 

(Below) WATCH: FVREB president Chris Shields and Communications Manager Shafiq Jamal join Stuart McNish to discuss housing market projections, how Fraser Valley REALTORS® are leveraging technology, and why nurturing relationships with clients is essential.

 

 


 

The following data is a comparison between March 2019 and March 2020 numbers, and is current as of April 2020. For last month’s report, check out our previous infographic!

Or follow this link for all our FVREB Infographics!

These infographics cover current trends in Fraser Valley neighbourhoods that are within the FVREB.

Click on the images for a larger view!

(Protip: Make sure to grab the printable PDF version, too! It fits best when printed on A4-sized sheets, AND we’ve added an area on the sheet where you can attach your business card! 🙂 )

 

Download Printable Version – FVREB March 2020 Market Report

 

 

 

 

 

 

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INFOGRAPHICS: February 2020 FVREB Fraser Valley, South Surrey, Etc. Market Reports
INFOGRAPHICS: February 2020 FVREB Fraser Valley, South Surrey, Etc. Market Reports

Spring is almost here, and the market that goes along with it. Here are this month’s market updates for the Fraser Valley Real Estate Board (FVREB)!

According to their latest published figures, in February, property sales in the Fraser Valley finished slightly above the 10-year average for the month, while new listings came in 3% below, keeping overall inventory at historically below-average levels.

The Fraser Valley Real Estate Board processed 1,352 sales of all property types on its Multiple Listing Service® (MLS®) in February, a 39% increase compared to sales in January 2020, and a 38% increase compared to the 982 sales in February of last year.

Of the 1,352 total MLS® sales of residential and commercial combined in the Fraser Valley, 534 were single family detached homes, 341 were townhouses, and 315 were apartments.

There were 5,741 active listings available in the Fraser Valley at the end of February, an increase of 12% compared to January’s inventory and a decrease of 10% year-over-year.

Additionally, 2,557 new listings were received by the Board for the month, a 15% increase compared to January’s intake of 2,216 new listings and a 15% decrease compared to February of last year.

As noted by Darin Germyn, President of the Board,

“Supply is a challenge currently in some areas and for certain property types. In February, in Langley for example, for every 10 active townhomes, six sold. In Cloverdale, there were 26 active condo listings last month; and 20 sold.

We are seeing more traffic at open houses, more multiple offers and a slight increase in year-over-year prices, so if you’ve been thinking about selling, talk to your local REALTOR® to find out if it’s the right time for you,” observed Germyn. “Another indicator we look at is how long it takes to sell a home and in February, the three main residential property types sold on average six days faster than last year.”

 


 

The following data is a comparison between February 2019 and February 2020 numbers, and is current as of March 2020. For last month’s report, check out our previous infographic!

Or follow this link for all our FVREB Infographics!

These infographics cover current trends in Fraser Valley neighbourhoods that are within the FVREB.

For this month, FVREB has also released their 2019 Special Housing Report, which you can download below!

Click on the images for a larger view!

(Protip: Make sure to grab the printable PDF version, too! It fits best when printed on A4-sized sheets, AND we’ve added an area on the sheet where you can attach your business card! 🙂 )

 

Download Printable Version – FVREB February 2020 Market Report

Download FVREB Special Housing Report 2019

 

 

 

 

 

 

 

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INFOGRAPHICS: January 2020 FVREB Fraser Valley, South Surrey, Etc. Market Reports
INFOGRAPHICS: January 2020 FVREB Fraser Valley, South Surrey, Etc. Market Reports

Here are this month’s market updates for the Fraser Valley Real Estate Board (FVREB)!

According to FVREB’s latest market report, January’s property sales in the Fraser Valley came in 6% above the 10-year average for the month, while new listings finished 11% below historical norms.

The Fraser Valley Real Estate Board processed 974 sales of all property types on its Multiple Listing Service® (MLS®) in January, a 21.9% decrease compared to sales in December 2019, and a 24.2% increase compared to the 784 sales in January of last year.

Of the 974 total MLS® sales of residential and commercial combined in the Fraser Valley, 363 were single family detached homes, 241 were townhouses, and 248 were apartments.

There were 5,143 active listings available in the Fraser Valley at the end of January, an increase of 9.8% compared to December 2019’s inventory and a decrease of 14.2% year-over-year.

Additionally, 2,216 new listings were received by the Board for the month, a significant increase compared to December 2019’s intake of 948 new listings and a 15.1% decrease compared year-over-year.

For the Fraser Valley region, the average number of days to sell an apartment in January was 49, and 47 for townhomes. Single family detached homes remained on the market for an average of 60 days before selling.

As noted by Darin Germyn, President of the Board,

 

“Considering our record-shattering snow and cold, the pace of home sales remained surprisingly balanced in January. Sales in our region have steadily improved since July of last year and January’s numbers remained consistent with that trend.

Where the weather may have had an impact in January, is on our housing supply. For certain property types, listings in the Fraser Valley are not keeping pace with sales. In areas of Surrey and Langley for example, for every two townhomes listed, one is selling. So, if you’re thinking of buying, talk to your REALTOR® about local market conditions to understand the variances.”

 


 

The following data is a comparison between January 2019 and January 2020 numbers, and is current as of February 2020. For last month’s report, check out our previous infographic!

Or follow this link for all our FVREB Infographics!

These infographics cover current trends in Fraser Valley neighbourhoods that are within the FVREB.

Click on the images for a larger view!

(Protip: Make sure to grab the printable PDF version, too! It fits best when printed on A4-sized sheets, AND we’ve added an area on the sheet where you can attach your business card! 🙂 )

 

Download Printable Version – FVREB January 2020 Market Report

 

 

 

 

 

 

 

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INFOGRAPHICS: December 2019 FVREB Fraser Valley, South Surrey, Etc. Market Reports
INFOGRAPHICS: December 2019 FVREB Fraser Valley, South Surrey, Etc. Market Reports

Starting strong in 2020! Here are this month’s market updates for the Fraser Valley Real Estate Board (FVREB)!

As noted in FVREB’s most recent market update, we’re seeing a strong finish for mediocre year in Fraser Valley real estate.

After a sluggish first half of the year, property sales in the Fraser Valley started picking up speed in the summer and finished strong in December, but not enough to surpass last year’s sales totals.

The Board’s Multiple Listing Service® (MLS®) processed 15,487 sales in 2019, a 0.6% decrease compared to 2018’s 15,586 sales and the lowest total sales volume for the Fraser Valley since 2013. The total dollar volume of MLS® transactions for the year was $11.2 billion, dropping from $11.8 billion sold during the year prior.

In 2019, total sales of the three main residential property types – detached, townhome and apartment – was 13,773. Of that total, 5,770 were detached, 3,888 were townhouses and 4,115 were apartments. Year-over-year, sales of detached and townhomes increased by 0.6% compared to 2018, while apartment sales dropped by 4.2%.

In December the Board processed a total of 1,247 sales, the third best December since 2010. Active inventory finished at 4,686 units in December, 20.3% lower than the 10-year average for the month, with a total of 948 new listings entering the market throughout the month.

A total of 30,568 new listings were received by the Board’s MLS® system in 2019. This year was the second lowest for new inventory for the Board in the last decade.

As noted by Darin Germyn, President of the Board,

 

“Comparatively, 2019 was slower than normal for our region. Earlier in the year, we were still feeling the impact of the stress test introduced in 2018, but with steady job growth in our region and a stable economy, we’ve seen sales in the last few months return to above-average levels.

Some sellers have been holding back on listing, waiting until the market improves, with the result that supply in many areas currently is quite tight; so if you’re looking to enter the market in 2020, now is a good time. Without a healthy supply of inventory in the coming months, we could see upward pressure on prices.”

 


 

The following data is a comparison between December 2018 and December 2019 numbers, and is current as of January 2020. For last month’s report, check out our previous infographic!

Or follow this link for all our FVREB Infographics!

These infographics cover current trends in Fraser Valley neighbourhoods that are within the FVREB.

Click on the images for a larger view!

(Protip: Make sure to grab the printable PDF version, too! It fits best when printed on A4-sized sheets, AND we’ve added an area on the sheet where you can attach your business card! 🙂 )

 

Download Printable Version – FVREB December 2019 Market Report

 

 

 

 

 

(Image Source: FVREB Twitter)

 

 

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INFOGRAPHICS: November 2019 FVREB Fraser Valley, South Surrey, Etc. Market Reports
INFOGRAPHICS: November 2019 FVREB Fraser Valley, South Surrey, Etc. Market Reports

And here we are, at the end of 2019! Are you ready for the new decade? Here are this month’s market updates for the Fraser Valley Real Estate Board (FVREB).

As noted in FVREB’s most recent monthly report, Fraser Valley real estate is experiencing Unusual end-of-year demand, reinforcing the market.

The Fraser Valley Real Estate Board processed 1,405 sales of all property types on its Multiple Listing Service® (MLS®) in November, an 11.7% decrease compared to sales in October 2019, and a 36.7% increase compared to the 1,028 sales in November of last year.

Darin Germyn, President of the Board, says,

“Some listings are seeing a lot of activity depending on location and property type. REALTORS® are reporting more showings, higher traffic at open houses and even some multiple offer situations, which is atypical for the time of year.

For our region, a balanced market is when 12 to 20% of active inventory is selling. In November, 33% of our supply of townhomes sold, as did 29% of Fraser Valley condos; indicating that the supply of attached properties isn’t keeping up with demand.

Buyers are seeing the effect that tighter supply has on prices. In early summer, the combined residential benchmark price was down 6% compared to the same period last year; in November it was down by 3%”

There were 6,733 active listings available in the Fraser Valley at the end of November, a decrease of 8.5% compared to November of last year and a decrease of 9% compared to October 2019. The Board received 1,877 new listings in November, a 21.2% decrease compared to October 2019’s intake of 2,383 new listings and a 9.6% decrease compared to November of last year.

 


 

The following data is a comparison between November 2018 and November 2019 numbers, and is current as of December 2019. For last month’s report, check out our previous infographic!

Or follow this link for all our FVREB Infographics!

These infographics cover current trends in Fraser Valley neighbourhoods that are within the FVREB.

Click on the images for a larger view!

(Protip: Make sure to grab the printable PDF version, too! It fits best when printed on A4-sized sheets, AND we’ve added an area on the sheet where you can attach your business card! 🙂 )

 

Download Printable Version – FVREB November 2019 Market Report

 

 

 

 

 

 

 

 

(Image Source: FVREB Twitter)

 

 

 

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INFOGRAPHICS: October 2019 FVREB Fraser Valley, South Surrey, Etc. Market Reports
INFOGRAPHICS: October 2019 FVREB Fraser Valley, South Surrey, Etc. Market Reports

And just like that, it seems we’re already nearing the end of 2019! As we dive into the cold season, here are this month’s market updates for the Fraser Valley Real Estate Board (FVREB).

In their latest statistics report, FVREB reports a solid rebound for the Fraser Valley market, and they are reporting that the demand for Fraser Valley real estate is the strongest it’s been since the spring of 2018.

FVREB processed 1,592 sales of all property types on its Multiple Listing Service® (MLS®) in October, a 18.5% increase compared to sales in September 2019, and a 37.8% increase compared to the 1,155 sales in October of last year.

There were 7,398 active listings available in the Fraser Valley at the end of October, a decrease of 4.5% compared to October of last year and a decrease of 6.9% compared to September 2019. The Board received 2,383 new listings in October, a 13.9% decrease compared to September 2019’s intake of 2,769 new listings and a 14.2% decrease compared to October of last year.

According to Darin Germyn, President of the Board,

 

“Our market started to pick up in the summer and we’ve been steadily improving since. It’s rare to see October home sales in the Fraser Valley outpace April and that’s what we’ve seen this year; our typical spring and fall markets have flipped.

Consumers are feeling more confident. Buyers have grown accustomed to the government’s regulation changes. Interest rates have thankfully remained stable and we’re likely seeing some pent-up demand from buyers who were holding off earlier this year. October’s beautiful, sunny weather didn’t hurt either.”

 


 

The following data is a comparison between October 2018 and October 2019 numbers, and is current as of November 2019. For last month’s report, check out our previous infographic!

Or follow this link for all our FVREB Infographics!

These infographics cover current trends in Fraser Valley neighbourhoods that are within the FVREB.

Click on the images for a larger view!

(Protip: Make sure to grab the printable PDF version, too! It fits best when printed on A4-sized sheets, AND we’ve added an area on the sheet where you can attach your business card! 🙂 )

 

Download Printable Version – FVREB October 2019 Market Report

 

 

 

 

 

(Image Source: FVREB Twitter)

 

 

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INFOGRAPHICS: September 2019 FVREB Fraser Valley, South Surrey, Etc. Market Reports
INFOGRAPHICS: September 2019 FVREB Fraser Valley, South Surrey, Etc. Market Reports

As the weather cools down, the FVREB market is warming up! Here are this month’s market updates for the Fraser Valley Real Estate Board (FVREB).

As noted in their most recent market report, FVREB has announced that property sales in Fraser Valley have recovered, bringing the market into balance.

For the third straight month, home sales in the Fraser Valley surpassed 2018 levels bringing the market back in line with long-term averages.

The Fraser Valley Real Estate Board processed 1,343 sales of all property types on its Multiple Listing Service® (MLS®) in September, a 3.5% increase compared to sales in August 2019, and a 29.8% increase compared to the 1,035 sales in September of last year.

There were 7,946 active listings available in the Fraser Valley at the end of September, an increase of 3.9% compared to September of last year and a decrease of 1.2% compared to August 2019. The Board received 2,769 new listings in September, a 17.5% increase compared to August 2019’s intake of 2,357 new listings and a 6% decrease compared to September of last year.

As noted by Darin Germyn, President of the Board,

“The market’s return to balance is good news for both buyers and sellers, however it’s important to put the 30% year-over-year increase in sales into context. September’s sales went from amongst the worst in 10 years to just above our 10-year average.

“Home prices are still dropping compared to a year ago, but on a month-to-month basis, prices are moderating because supply is shrinking. Our incoming supply of new listings has dropped consistently for the last four months pushing our total inventory in the Fraser Valley to the lowest it’s been since April, which has had an impact on prices.

Financing is still a challenge for many clients, but fortunately in a balanced market like this, REALTORS® have the time to work with clients and advise them of the best strategies for them, whether they are buying or selling.”

 


 

The following data is a comparison between September 2018 and September 2019 numbers, and is current as of October 2019. For last month’s report, check out our previous infographic!

Or follow this link for all our FVREB Infographics!

These infographics cover current trends in Fraser Valley neighbourhoods that are within the FVREB.

Click on the images for a larger view!

(Protip: Make sure to grab the printable PDF version, too! It fits best when printed on A4-sized sheets, AND we’ve added an area on the sheet where you can attach your business card! 🙂 )

 

Download Printable Version – FVREB September 2019 Market Report

 

 

 

 

 

(Image Source: FVREB Twitter)

 

 

 

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INFOGRAPHICS: August 2019 FVREB Fraser Valley, South Surrey, Etc. Market Reports
INFOGRAPHICS: August 2019 FVREB Fraser Valley, South Surrey, Etc. Market Reports

We’re diving into the Fall season pretty fast, and things are looking good for Fraser Valley. Here are this month’s market updates for the Fraser Valley Real Estate Board (FVREB).

As noted in their latest market update, the Fraser Valley housing market continues to stabilize as sales pick up compared to last year.

For the second month in a row, home sales in the Fraser Valley surpassed 2018 levels bringing the market closer to historical norms.

The FVREB processed 1,297 sales of all property types on its Multiple Listing Service® (MLS®) in August, an 11% decrease compared to sales in July 2019, and a 12.3% increase compared to the 1,155 sales in August of last year.

There were 8,040 active listings available in the Fraser Valley at the end of August, an increase of 9.6% compared to August of last year and a decrease of 3.6% compared to July 2019.

As pointed out by Darin Germyn, President of the Board,

“Compared to last year, this August has been quite robust. All property types are selling and we’re seeing a resurgence in the single-family detached market. Across North Delta, Surrey and Langley, sales are up over 25 per cent.

It’s great to see. We’re returning to a normal, steady market. Our sales, new listings and number of active listings in August were all slightly below the 10-year average.”

 


 

The following data is a comparison between August 2018 and August 2019 numbers, and is current as of September 2019. For last month’s report, check out our previous infographic!

Or follow this link for all our FVREB Infographics!

These infographics cover current trends in Fraser Valley neighbourhoods that are within the FVREB.

Click on the images for a larger view!

(Protip: Make sure to grab the printable PDF version, too! It fits best when printed on A4-sized sheets, AND we’ve added an area on the sheet where you can attach your business card! 🙂 )

 

Download Printable Version – FVREB August 2019 Market Report

 

 

 

 

 

 

(Image Source: FVREB Twitter)

 

 

 

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INFOGRAPHICS: July 2019 FVREB Fraser Valley, South Surrey, Etc. Market Reports
INFOGRAPHICS: July 2019 FVREB Fraser Valley, South Surrey, Etc. Market Reports

FVREB is now entering the month of August, and it looks like things have been looking great! Here are this month’s market updates for the Fraser Valley Real Estate Board (FVREB).

According to their latest market update, Fraser Valley home sales rebound in July after a lackluster June. In their report, it is pointed out that there has been a noticeable lift in home sales and slight decrease in new listings bolstered the Fraser Valley housing market in July.

The Fraser Valley Real Estate Board processed 1,458 sales of all property types on its MLS in July, a 11.6% increase compared to sales in June 2019, and a 13% increase compared to the 1,290 sales in July of last year.

As noted by the Board’s President-Elect Chris Shields,

 

“We’ve been expecting market improvement, but didn’t quite anticipate July’s momentum. We’ve gone from the worst June in almost 20 years to a July that’s only slightly below the 10-year average. For both buyers and sellers, a return to an active, more balanced market is welcome news.

We attribute the change in July to pent-up demand and an increase in consumer confidence. REALTORS® in our market saw more activity at open houses and an increase in the number of first-time buyers. Data from our informal member market poll in July showed the highest level of first-time buyer purchases in the Fraser Valley since early 2016.

 


 

The following data is a comparison between July 2018 and July 2019 numbers, and is current as of August 2019. For last month’s report, check out our previous infographic!

Or follow this link for all our FVREB Infographics!

These infographics cover current trends in Fraser Valley neighbourhoods that are within the FVREB.

Click on the images for a larger view!

(Protip: Make sure to grab the printable PDF version, too! It fits best when printed on A4-sized sheets, AND we’ve added an area on the sheet where you can attach your business card! 🙂 )

 

Download Printable Version – FVREB July 2019 Market Report

 

 

 

 

 

 

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The data relating to real estate on this website comes in part from the MLS® Reciprocity program of either the Real Estate Board of Greater Vancouver (REBGV), the Fraser Valley Real Estate Board (FVREB) or the Chilliwack and District Real Estate Board (CADREB). Real estate listings held by participating real estate firms are marked with the MLS® logo and detailed information about the listing includes the name of the listing agent. This representation is based in whole or part on data generated by either the REBGV, the FVREB or the CADREB which assumes no responsibility for its accuracy. The materials contained on this page may not be reproduced without the express written consent of either the REBGV, the FVREB or the CADREB.