INFOGRAPHICS: April 2019 FVREB Fraser Valley, South Surrey, Etc. Market Reports
Heading into May nice and steady! Here are the latest market updates for areas covered by the Fraser Valley Real Estate Board (FVREB)!
According to FVREB’s latest market update, the Fraser Valley real estate market experienced its second slowest April in ten years and yet sales of certain property types and price ranges remain solid.
The Fraser Valley Real Estate Board processed 1,383 sales of all property types on its MLS® in April, a 13.3% increase compared to sales in March 2019, and a 19% decrease compared to the 1,708 sales in April of last year.
As noted by Darin Germyn, President of the Board,
“Consumers may not have the purchasing power that they did prior to January 2018, but the desire for home ownership is still there and we’re seeing that reflected in our MLS® data. Detached homes under one million dollars and attached homes – ranging from $400,000 to $700,000 – continue to attract buyers in the Fraser Valley. Townhome sales in Abbotsford increased by almost 60% compared to March and were on par with last year’s April sales.
A slower, stable market has had a positive impact on affordability in our region. Prices of typical residential homes in the Fraser Valley have decreased between 5% and 6% in the last year. In the last three months, benchmark prices have either plateaued or have experienced a small recovery.”
The following data is a comparison between April 2018 and April 2019 numbers, and is current as of May 2019. For last month’s report, check out our previous infographic!
These infographics cover current trends in Fraser Valley neighbourhoods that are within the FVREB.
Click on the images for a larger view!
(Protip: Make sure to grab the printable PDF version, too! It fits best when printed on A4-sized sheets, AND we’ve added an area on the sheet where you can attach your business card! 🙂 )