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A record number of new home listings in Fraser Valley

Benchmark prices for single-family homes in Fraser Valley rose 6.5% from January to nearly $ 1.7 million.

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Home buyers had more options in Fraser Valley last month with a record amount of new listings, according to a Wednesday report from the Fraser Valley Real Estate Commission.

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The Board reported 3,742 new listings in February, an increase of 75.3% compared to January and 14.6% compared to February last year.

According to the report, February, the record high for new listings in 2016, was 3,283. Of these, 1,824 were sold, and the board said it was 39.2 percent higher than in January.

Larry Anderson, chairman of the board, said the market is “far from being balanced” but encouraged to see more lists.

“We hope that this trend will continue and that more sellers will be available to soften the market and provide opportunities for many buyers who have been left behind over the past year and a half for the spring season,” he said. Told. , In the statement.

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Baldev Gil, CEO of the board, said buyers are looking for the value of the real estate dollars that the Fraser Valley market still offers.

Still, the benchmark price for a single-family home in Fraser Valley (about $ 1.7 million) is still out of range for many buyers. According to the report, the cost of a single-family home surged 6.5% compared to January and 43.6% compared to February last year.

Benchmark prices for town homes in the region were $ 840,900, up 5.6% from last month, while apartment costs rose 7.1% to $ 614,800.

In the Fraser Valley area, the average number of days for apartments sold in February was 12 days, and for town homes it was 11 days. According to the report, single-family homes averaged 13 days before sale.

ticrawford@postmedia.com

A record number of new home listings in Fraser Valley

Source link A record number of new home listings in Fraser Valley

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