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  Market News


Demand in the Fraser Valley extends to townhomes and apartments

SURREY, BC – Consumer demand for real estate in the Fraser Valley continued through May, with overall sales once again reaching record-breaking numbers for the month historically. The Fraser Valley Real Estate Board processed 2,911 sales on its Multiple Listing Service® (MLS®) in May, an increase of 47.8 per cent compared to May 2015. The previous record for sales processed in a May was set in 2006 at 2,245. However, sales dropped two per cent when compared to April 2016, continuing a slight trend of easing off since sales peaked this spring at 3,006 sales in March. Of the 2,911 sales processed in May, 615 were townhouses and 557 were apartments, representing a significant portion of May’s market activity and a large increase when compared to May 2015. Townhome transactions increased 56.1 per cent when compared to last year, and apartments reached even higher levels seeing a 112.6 per cent gain. Charles Wiebe, President of the Board, said of this month’s market data, “Demand is tremendous, still, for detached homes in our region, but it’s encouraging to see that the upward pace of that demand is leveling off. Read more »Original post blogged on b2evolution.


Four-for-four in record-setting months for Fraser Valley real estate

SURREY, BC – Once again Fraser Valley real estate saw record-breaking numbers with April sales reaching higher than any previous April historically. Last month, the Fraser Valley Real Estate Board processed 2,969 sales on its Multiple Listing Service® (MLS®), an increase of 47.8 per cent compared to April 2015. The previous record for sales processed in an April was set in 1991 at 2,513. However, sales did drop 1.2 per cent compared to the all-time Board record set in March 2016 at 3,006 sales processed. Charles Wiebe, President of the Board, said of this month’s market data, “Fierce demand continues to put a strain on both inventory levels and buyers looking to purchase within the Valley." Read more »Original post blogged on b2evolution.


March sees highest monthly sales on record for Fraser Valley

SURREY, BC – Fraser Valley real estate hit a historical high in March, setting the record for sales processed in one month since the Fraser Valley Real Estate Board’s (FVREB) inception in 1921. In March, the FVREB processed 3,006 sales on its Multiple Listing Service® (MLS®), an increase of 62 per cent compared to March 2015 and 26 per cent more then was processed in February. The previous record of 2,720 processed sales was set in March of 1991. Charles Wiebe, President of the Board, said of this month’s statistics, “This market is uncharted territory for Fraser Valley real estate. It’s typical for spring to see a jump in activity; however, March came and went at a break-neck, record-setting pace. I’ve never seen anything like it.” Read more »Original post blogged on b2evolution.


Another record-setting month for Fraser Valley real estate

SURREY, BC – For the second time in as many months, Fraser Valley real estate saw record-setting monthly sales. In February, the Fraser Valley Real Estate Board processed 2,387 sales on its Multiple Listing Service® (MLS®), an increase of 79 per cent compared to February 2015 and 78 per cent more then was processed in January. To give a historical perspective, sales in February were 46 per cent over the 10-year average for that month; and, 4 per cent higher than the previous record of 1,948 sales in February 1992. Charles Wiebe, President of the Board said of this month’s record numbers, “In my twenty-five years of real estate, I have never seen such consistent demand for housing in the Fraser Valley.” Read more »Original post blogged on b2evolution.


FVREB announces new 2016/2017 board; White Rock REALTOR® awarded top honour

LANGLEY, BC – The Fraser Valley Real Estate Board (FVREB) elected its new Board of Directors for the 2016/2017 year at its Annual General Meeting held on February 24th. Charles Wiebe will replace outgoing President Jorda Maisey. Wiebe is a licensed REALTOR® of over twenty-five years, and is a representative of RE/MAX Little Oak Realty in Fort Langley. “This is a great honour, and an exciting opportunity, to help lead the Fraser Valley Real Estate Board through 2016,” remarked Wiebe. “Now, more than ever, given the unprecedented pace of our market, it is critical that our organization continues to emphasize and build upon pillars of professionalism and expertise within Fraser Valley real estate.” Read more »Original post blogged on b2evolution.


Fraser Valley REALTORS® gift $20,000 to local food banks

SURREY, BC – On behalf of Fraser Valley’s 2,900-plus REALTORS®, the Fraser Valley Real Estate Board (FVREB) has donated $20,000 to five food banks in its regional area. Jorda Maisey, President of the FVREB, said “This gift is an acknowledgement of the tremendous work these organizations accomplish in caring for our neighbours and communities throughout the Valley.” “Our region is developing on many levels, but there are still a great number of individuals and families who need food on a daily basis. We’re honoured to be able to help.” Read more »Original post blogged on b2evolution.


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.