Houses in Surrey. (File photo)

It was a hot August for home sales and new listings in Fraser Valley

‘We remain cautiously optimistic and are encouraged by the numbers,’ FVREB president says

August was a relatively hot month for home sales and new listings in the region covered by the Fraser Valley Real Estate Board’s Multiple Listing Service.

The MLS numbers for the month saw the second highest number of property sales and highest number of new listings in August over the last two decades.

The FVREB processed 2,039 sales in August — a decrease of 2.9 per cent compared to sales in July, but an increase of 57.2 per cent compared to the 1,297 sales during August of last year.

The board says last month’s sales were 39 per cent above the 10-year average for August, representing the highest August in the last decade and second only to what was recorded back in August 2005, when 2,298 sales were recorded.

The Fraser Valley Real Estate Board is an association of 3,700 real estate pros in North Delta, Surrey, White Rock, Langley, Abbotsford and Mission.

(Story continues below)

“We are seeing better sales volumes increase month over month because buyers are recognizing that the Fraser Valley offers increased choice and diversified housing opportunities, while offering more value as well,” Chris Shields, president of the board, said in a news release.

“In an unusual situation given the pandemic, we remain cautiously optimistic and are encouraged by the numbers we are seeing.”

In August, the average number of days to sell an apartment was 36; 24 for townhomes, and 31 for single family detached.

The Fraser Valley Board received 3,309 new listings in August, 28.9 per cent above the 10-year average for the month.

All the stats for the month are posted to fvreb.bc.ca/statistics/eStats-2020-08.html.

FVREB’s benchmark price activity for August 2020

Single Family Detached: At $1,019,600, the Benchmark price for a single-family detached home in the Fraser Valley increased 1.2 per cent compared to July and, increased 6.9 per cent compared to August 2019.

Townhomes: At $563,900, the Benchmark price for a townhome in the Fraser Valley increased 0.1 per cent compared to July and increased 3 per cent compared to August 2019.

Apartments: At $437,300, the Benchmark price for apartments/condos in the Fraser Valley remain unchanged compared to July and increased 4 per cent compared to August 2019.



tom.zillich@surreynowleader.com

Like us on Facebook Follow us on Instagram and follow Tom on Twitter

home sales

Get local stories you won't find anywhere else right to your inbox.
Sign up here

Just Posted

One person treated for smoke inhalation after Langley fire

Township firefighters were called to Deer Creek Estates Wednesday night

Aldergrove Credit Union and G&F Financial Group announce plans to merge

Combined organization would operate under the name Gulf and Fraser Fishermen’s Credit Union

Tree protection advisory committee members appointed in Langley Township

Volunteers will provide guidance on protection, preservation, and planting of trees in township

Langley4Langley food bank fundraiser extends deadline to Sept. 30

Participants can log activity online and take part in 10 km virtual fun run in Derby Reach

Legion to hold private Remembrance Day ceremony at Cloverdale Cenotaph

General public will not be allowed in Veterans Square for Nov. 11 services this year

BC Liberal Leader talks drug addiction in the Lower Mainland

Drug addiction and public safety a top priority says Andrew Wilkinson

Pandemic derails CP Holiday Train

Canadian Pacific will work to get donations to food banks while also producing an online music concert

Is it time to start thinking about greener ways to package cannabis?

Packaging suppliers are still figuring eco-friendly and affordable packaging options that fit the mandates of Cannabis Regulations

Join Black Press Media and Do Some Good

Pay it Forward program supports local businesses in their community giving

Vanderhoof’s Brian Frenkel takes on top job in tough times

We can get through this, new local government leader says

Mounties cleared by watchdog in fatal shooting of man with schizophrenia in Maple Ridge

Kyaw Din was killed by the RCMP during a mental health incident in August 2019

Local councils important, Horgan says as municipal conference ends

B.C. NDP leader says ‘speed dating’ vital, online or in person

Penticton woman sentenced to one year in prison for manslaughter of teen boyfriend

Kiera Bourque, 24, was sentenced for manslaughter in the 2017 death of Penticton’s Devon Blackmore

Most Read