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  Market News


New Year brings strongest January on record

SURREY, BC – Fraser Valley’s real estate market showed no signs of slowing down, producing the strongest sales for January on record. The Fraser Valley Real Estate Board processed 1,338 sales on its Multiple Listing Service® (MLS®) in January, an increase of 57 per cent compared to January 2015 and 13 per cent fewer then were processed in December. Sales in January ranked at the top for the last ten years coming in 57 per cent over the 10-year average, and 5 per cent higher than the previous record of 1,270 sales in January 1992. Jorda Maisey, President of the Board said, “Typically, we see January numbers slow down post-holiday season, but so far demand for Fraser Valley homes hasn’t let up. Homebuyers are reluctant to wait when the market is moving this fast.” Read more »Original post blogged on b2evolution.


Fraser Valley real estate in hot demand throughout 2015

SURREY, BC – Fraser Valley real estate experienced its strongest year in a decade in 2015. This was the second highest year for property sales in Fraser Valley’s history, just shy of the region’s previous sales high in 2005. The Board’s Multiple Listing Service® (MLS®) processed 21,095 sales in 2015, 33 per cent more than the 15,840 sales in 2014, and 0.9 per cent fewer than the 21,282 sales in 2005. The total dollar volume of MLS® sales was a record setting $12.1 billion, four billion more than was sold in 2014. In contrast, the Board received a typical volume of new listings in 2015 – 30,998 – comparable to the average over the last ten years, set at 31,296 new listings. Read more »Original post blogged on b2evolution.


21st annual REALTORS Care® Blanket Drive delivers warm clothing and blankets south of the Fraser

SURREY, BC – December 18, 2015 - Between November 16 to 23, the 21st annual REALTORS Care® Blanket Drive collected over 1000 bags of warm clothing and blankets to help an estimated 5000 working poor and homeless in Abbotsford, Mission, Langley, Surrey, North Delta and White Rock. The donations were collected at 35 real estate offices across the Fraser Valley, sorted by 37 REALTOR® volunteers, and delivered directly to 22 local charities. Read more »Original post blogged on b2evolution.


Commemorating 20 years of REALTORS® partnering with police

REALTORS® and police officers from across the Lower Mainland gathered this month to celebrate 20 years of partnership through the Realty Watch program. At our annual Realty Watch Police Breakfast on November 6, nearly 200 police officers and law enforcement officials learned about the effectiveness of the Realty Watch program in helping locate missing persons. Read more »Original post blogged on b2evolution.


No sign of slowdown for Fraser Valley real estate market

SURREY, BC – Fraser Valley’s housing market remained in a seller’s market in October, fuelled by low interest rates and strong consumer demand, according to the Fraser Valley Real Estate Board. There were 1,772 sales processed on the Multiple Listing Service® (MLS®) in October compared with 1,448 in 2014, an increase of 22 per cent. For the month, sales are on par with the previous high in October 2005; and historically, only surpassed by the markets of October 1992 and 1989. Jorda Maisey, President of the Board, says she’s not surprised that October sales were near historic levels, “BC continues to be an economic growth leader in our country and we’re seeing the impact of that in our housing market. “In the Fraser Valley, demand is strongest for ground-oriented homes. Single family homes and townhomes garnered 83 per cent of our residential market last month. The reasons are due to low interest rates, pent-up demand and most importantly, price. People can afford to own their own single family home in the Fraser Valley.” Read more »Original post blogged on b2evolution.


Seller's market continues for single family detached and townhomes in Fraser Valley

SURREY, BC – Property sales in the Fraser Valley remained strong in September, consistent with the near-record setting pace of the last six months. The Fraser Valley Real Estate Board processed 1,727 sales, an increase of 22 per cent compared to 1,419 sales during September of last year. Last month’s sales were on par with September 2005 and second to September’s all-time high for sales in 1992. Jorda Maisey is the Board’s President. “Sales remain brisk depending on the property type and location. We’re continuing to see many family homes that are priced right receive multiple offers and sell in a matter of days. People actively looking for a home will already know that in some communities, selection is very tight. “In Langley where I live and work, we have less than two months supply of single family homes and townhomes, which means buyers and their REALTORS® have to be informed, prepared and have a strategy.”Read more »Original post blogged on b2evolution.


Strong sales activity continues through August

SURREY, BC – In August, home sales in the Fraser Valley moderated in comparison to July’s record-setting pace, however, they remained elevated compared to historical norms for the month. There was a total of 1,734 property sales processed in August, an increase of 33 per cent compared to 1,302 sales during August of last year and a decrease of 21 per cent compared to July’s 2,184 sales. Jorda Maisey is the Board’s President. “High consumer confidence and low mortgage rates continue to drive the activity we’ve seen in our market this summer. “Even with the holiday season, sales last month remained 25 per cent higher than the Board’s 10-year average for August. This year marks one of the busiest summer markets we’ve ever had in the Fraser Valley, second only to 2005.”Read more »Original post blogged on b2evolution.


July property sales hit record levels in Fraser Valley

SURREY, BC – Fraser Valley Real Estate Board’s Multiple Listing Service® (MLS®) saw the highest number of real estate transactions ever recorded for the month of July. There were 2,184 property sales processed, an increase of 35 per cent compared to 1,615 sales in July of last year. The previous highest July was in 2009, with 2,089 sales and prior to that in 2005. Jorda Maisey is the Board’s President. “Home ownership is a passion in our country and in our region currently, conditions couldn’t be better to support that goal. Interest rates are the lowest they’ve been in six years, our provincial economy is on track to be the strongest in the country this year and in the Fraser Valley we have amongst the most affordable homes in the region. “This is why this summer is shaping up to be the busiest in our history.”Read more »Original post blogged on b2evolution.