Feb stat report
Fraser Valley home prices remain strong in February
Fraser Valley Real Estate Board MLS® Report March 4, 2008
(Surrey, BC) – With greater choice available, Fraser Valley home buyers continued to snap up properties in February, paying on average seven per cent more for a single family home compared to the same month last year.
The Fraser Valley Real Estate Board recorded 1,308 sales on the Multiple Listing Service® (MLS®) in February, compared with 1,413 during February of last year, a decrease of seven per cent.
The MLS® received 2,808 new listings in February, which added up to 8,185 active listings for the month, an increase of 30 per cent compared to the 6,304 active listings that were available in February 2007.
“There is tremendous interest in Fraser Valley real estate,” confirms President Kelvin Neufeld. “We have buyers from out of town coming for work, from Greater Vancouver looking to get more bang for their buck, first-time buyers looking to enter the market with a condo or townhouse, and long-time Fraser Valley residents asking us to help them downsize or upsize.
“All this activity is keeping prices competitive. It’s also the reason why Fraser Valley REALTORS® anticipate another busy spring in 2008.”
The average price of a single-family detached house in the Fraser Valley in February was $544,495, an increase of 7.3 per cent compared to the same month last year. In February 2007, the average price was $507,439. Similarly, the average apartment price went up 7.4 per cent, from February 2007’s average of $208,885, to $224,430 in 2008.
The average price of townhouses increased by 11 per cent in one year, selling for an average of $346,853 in February 2008, compared to an average of $312,421 during the same month last year.
Fraser Valley Real Estate Board MLS® Report March 4, 2008
(Surrey, BC) – With greater choice available, Fraser Valley home buyers continued to snap up properties in February, paying on average seven per cent more for a single family home compared to the same month last year.
The Fraser Valley Real Estate Board recorded 1,308 sales on the Multiple Listing Service® (MLS®) in February, compared with 1,413 during February of last year, a decrease of seven per cent.
The MLS® received 2,808 new listings in February, which added up to 8,185 active listings for the month, an increase of 30 per cent compared to the 6,304 active listings that were available in February 2007.
“There is tremendous interest in Fraser Valley real estate,” confirms President Kelvin Neufeld. “We have buyers from out of town coming for work, from Greater Vancouver looking to get more bang for their buck, first-time buyers looking to enter the market with a condo or townhouse, and long-time Fraser Valley residents asking us to help them downsize or upsize.
“All this activity is keeping prices competitive. It’s also the reason why Fraser Valley REALTORS® anticipate another busy spring in 2008.”
The average price of a single-family detached house in the Fraser Valley in February was $544,495, an increase of 7.3 per cent compared to the same month last year. In February 2007, the average price was $507,439. Similarly, the average apartment price went up 7.4 per cent, from February 2007’s average of $208,885, to $224,430 in 2008.
The average price of townhouses increased by 11 per cent in one year, selling for an average of $346,853 in February 2008, compared to an average of $312,421 during the same month last year.
Comments