In January, listings were up 143 per cent over December. Sales were down by 10 per cent -- in fact January was the second-lowest sales volume month in ten years. Currently there are 8320 properties for sale.
It's a buyer's market, and Fraser Valley Real Estate Board Chairman Sukh Sidhu says, "For spring house hunters this is great news. For buying power you can't beat the combination of greater selection, the continuation of extrmely low interest rates and stable prices."
What's Up, What's Down - At a Glance Jan 2012/Dec2011 Jan 2012/ Jan 2011 Overall Sales -10.2% -4.2% - Detached -15% -3.3% - Attached +5.1% +3.1% - Apartment +7.4% -12.6% New Listings +143% +4.6% Active Listings +12.4% +7.7%
Price stability is definitely the picture we see in the new MLS® Home Price Index. The new index replaces the earlier MLS®Link HPI and measures home prices in five major Canadian markets for a better comparison of cross-country trends. The index tracks the changes in benchmark prices for homes with similar features.
A look at this MLS® Home Price Index graph of home prices shows little change through 2011.
House prices index for the Fraser Valley including Surrey, Langley, North Delta, White Rock, Mission, Abbotsford
Fraser Valley Benchmark Prices January 2012 Dec 2011 January 2011 Detached $567,700 $567,200 $527,500 Attached $314,200 $317,700 $306,800 Apartment $199,600 $199,000 $199,800
You can read the Fraser Valley Real Estate Board's full breakdown of statistics here.
