April 2018 Fraser Valley Housing Market Statistics

Buyer activity in the Fraser Valley stayed coy throughout April despite a bump in inventory across all three major residential types.

The Fraser Valley Real Estate Board processed 1,708 sales of all property types on its Multiple Listing Service® (MLS®) in April, a decrease of 23.4 per cent compared to the 2,230 sales in April of last year, and a 2.6 per cent increase compared to the 1,664 sales in March 2018.

Of the 1,708 sales processed last month 413 were townhouses and 498 were apartments, together representing 53 per cent of all transactions in April.

Active inventory for the Fraser Valley finished at 5,667 listings last month, increasing 18.2 per cent month-over-month, and 15.3 per cent when compared to April 2017.

“While it’s great to see the increase in inventory we were looking for, both buyers and sellers remain careful as pricing continues to climb,” said John Barbisan, Board President.

The Board received 3,429 new listings in April, a 19.7 per cent increase from March 2018’s 2,865 new listings, and a 16.2 per cent increase compared to April 2017.

“This isn’t the same spring market we saw each of the last two years, but listings that are selling are still going fast. If you’re considering buying or transitioning from a strata to a detached home, be prepared to move quickly, and talk to a REALTOR® who can support you through the whole process.”

For the Fraser Valley region the average number of days to sell an apartment in April was 14, and 16 for townhomes. Single-family detached homes remained on the market for an average of 26 days before selling.

HPI® Benchmark Price Activity

• Single Family Detached: At $1,009,200, the Benchmark price for a single-family detached home in the Valley increased 0.8 per cent compared to March 2018, and increased 13.5 per cent compared to April 2017.
• Townhomes: At $549,900, the Benchmark price for a townhome in the Fraser Valley increased 1.5 per cent compared to March 2018, and increased 23 per cent compared to April 2017.
• Apartments: At $447,500, the Benchmark price for apartments/condos in the Fraser Valley increased 1.6 per cent compared to March 2018, and increased 45.8 per cent compared to April 2017.

Click below for an Abbotsford, Mission & Langley Stats Chart for ALL Detached Homes:

STATS CHART

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When Your SMART HOME System is TOO Smart!

Accidentally trapped in your house by your smart home system? Not the best way to kick off the purchase of a brand new home, but that's what can happen when you don't use a REALTOR®. 

One of our Gelderman Team slogans is "We Love What We Do" ...and it's TRUE! WE DO! 
SO when you next think about buying or selling, think about us and What Our Team Can Do For YOU! You will be glad you did! 

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RE/MAX 2018 Spring Market Trend Report

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Let's TALK BC Housing Affordability!

Let's TALK BC Housing Affordability!

OUR SUM UP...

BC Housing affordability: the government says they're concerned about affordability. On a $500,000 purchase a buyer needs a minimum down payment of $25,000 to satisfy a bank. But the BC government wants an additional whopping $8,000 for property transfer tax.

Who's hurting the buyers?? Isn't the BC GOVERNMENT part of the problem? Why don't they ELIMINATE the massive cash grab that's hurting housing affordability??

Let us know your thoughts? 

Here's an article to further the convo: http://business.financialpost.com/real-estate/mortgages/rpt-canada-province-readies-housing-plan-amid-affordability-crisis

The Gelderma.ca Real Estate Team

RE/MAX Aldercenter Realty

26641 Fraser Hwy, Aldergrove, BC, V4W 3L1

Office: 604-743-7653

Web: http://www.gelderman.ca/

Fraser Valley REALTORS Donate $25,000

Food banks receive $25,000 from Fraser Valley REALTORS®

Surrey, BC - On behalf of Fraser Valley’s 3,500-plus REALTORS®, the Fraser Valley Real Estate Board (FVREB) has donated a total of $25,000 to seven food banks across its regional area.
“Fraser Valley Realtors are honoured to once again support our local food banks,” said Gopal Sahota, President of the FVREB. “Through their ongoing efforts, these seven organizations provide incalculable support to families and individuals in our communities.”
This is the seventh year Fraser Valley Realtors have donated to local food banks. In that time, a total amount of $157,500 has been distributed throughout the region.
As in previous years, the donation is divided proportionately based on the number of Realtors represented in each community. $10,500 will go to the Surrey Food Bank; $2,500 to the Sources Langley Food Bank and another $2,500 to the Langley Food Bank; $5,250 to Sources White Rock South Surrey Food Bank; $750 to the North Delta Chapter of the Surrey Food Bank; $3,000 to the Abbotsford Food Bank; and $500 to St. Joseph’s Food Bank in Mission.
Feezah Jaffer, Executive Director at the Surrey Food Bank, received the FVREB’s cheque on behalf of Surrey.
“The Surrey Food Bank is very grateful to the Fraser Valley Real Estate Board for supporting us and other local food banks throughout the region. This continued generosity is a wonderful example of how community supporters can connect with local organizations for the benefit of our low income neighbours who are struggling to feed their families and face life's greatest challenges.”
“Thank you to the 3500-plus Realtors in the Fraser Valley for making an impact on your community with your generous donations.”

British Columbia’s food banks support over 100,000 people every year; please consider supporting the food bank organization in your community. For more information about all FVREB community giving initiatives, go to www.fvreb.bc.ca.

The Gelderman.ca Real Estate Team

RE/MAX Aldercenter

26641 Fraser Hwy

Aldergrove, BC, V4W 3L1

www.gelderman.ca 

*Article courtesy of FVREB Communications from the Fraser Valley Real Estate Board