Fraser Valley January home sales typical;
new listings lagging
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SURREY, BC – January’s property sales in the Fraser Valley came in 6 per cent
above the 10-year average for the month, while new listings finished 11 per
cent
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 per cent decrease compared
to
sales in December 2019, and a 24.2 per cent 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.
 "Considering our record-shattering snow and cold, the pace of home sales
remained surprisingly balanced in January," said Darin Germyn, President
of
the Board. “Sales in our region have steadily improved since July of last
year
and January's numbers remained consistent with that trend."
 There were 5,143 active listings available in the Fraser Valley at the end of
January, an increase of 9.8 per cent compared to December 2019’s inventory
and a decrease of 14.2 per cent 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 per cent
decrease compared year-over-year.
 "Where the weather may have had an impact in January, is on our housing
supply," observed Germyn. "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."
MLS® HPI
Benchmark Price Activity
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.
For the full Statistics Package please click HERE
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