Fraser Valley Real Estate Board. Monthly Statistics Package

Transcription

1 Fraser Valley Real Estate Board Monthly Statistics Package December 2013

2 News Release Fraser Valley Real Estate Board For Immediate Release: Jan. 3, 2014 Fraser Valley s housing market quiet, yet stable in 2013 SURREY, BC Neither predictions of a huge crash or notable recovery came to pass in 2013 as Fraser Valley s real estate market stayed slow and steady, similar to 2012 s market. Fraser Valley s total sales volume last year was 13,663 a decrease of 1.5 per cent compared to 13,878 in Over the course of the year, Fraser Valley REALTORS listed 29,338 properties on the Multiple Listing Service (MLS ), a 5.4 per cent decrease compared to 2012 s 31,009 listings. The number of active listings at year s end finished at 7,541, 5 per cent higher compared to 7,187 active listings in December Ron Todson, President of the Fraser Valley Board, says, It wasn t the best of years, nor was it the worst. Generally speaking, 2013 overall was quiet. Earlier in the year, our market felt the impact of the tighter mortgage regulations, rebounded some in the summer and then flattened again come fall. The positive for both buyers and sellers has been the stability in home prices. Although our sales last year were amongst the lowest they ve been in last decade, we didn t see significant price declines because our inventory also remained lower. When both buyers and sellers take a breather it has a balancing effect on the market where neither has the upper hand. In December, the benchmark price of a detached home in the Fraser Valley was $549,500, an increase of 1.9 per cent compared to $539,000 in December 2012 and a decrease of 0.1 per cent compared to November. For townhouses, the benchmark price in December was $293,300, a decrease of 1.0 per cent compared to the same month last year when it was $296,400 and up 0.3 per cent compared to November. The benchmark price of apartments in December was $192,600, a decrease of 3.7 per cent compared to December 2012 when it was $200,100 and a decrease of 1.8 per cent compared to November. Annual average prices year over year show detached homes up 3 per cent $615,852 in 2013 compared to $597,608 in Townhome average prices decreased by 0.7 per cent, going from $340,253 in 2012 to $337,811 in 2013 and the average price of apartments decreased by 0.4 per cent going from $220,033 in 2012 to $219,196 in For the month of December, property sales were down compared to November, as is the seasonal norm 890 compared to 986; however, they were a 34 per cent improvement over the 664 sales in December The Fraser Valley Real Estate Board is an association of 2,769 real estate professionals who live and work in the BC communities of North Delta, Surrey, White Rock, Langley, Abbotsford, and Mission. The FVREB marked its 90 year anniversary in Contact Laurie Dawson, Assistant Manager, Communications laurie.dawson@fvreb.bc.ca Fraser Valley Real Estate Board Telephone Fax

3 MLS Summary - Fraser Valley December 2013 All Property Types All Property Types Grand Totals Dec-13 Dec-12 % change Nov-13 % change Grand Totals - year to date % change Sales % % Sales - year to date 13,663 13, % New Listings 1, % 1, % New Listings - year to date 29,338 31, % Active Listings 7,541 7, % 8, % Average Price $ 486,701 $ 458, % $ 507, % All Areas Combined Dec-13 Dec-12 % change Nov-13 % change Dec-13 Dec-12 % change Nov-13 % change Dec-13 Dec-12 % change Nov-13 % change Sales % % % % % % New Listings % % % % % % Active Listings 2,818 2, % 3, % 1,053 1, % 1, % 1,420 1, % 1, % Benchmark Price $ 549,500 $ 539, % $ 550, % $ 293,300 $ 296, % $ 292, % $ 192,600 $ 200, % $ 196, % Median Price $ 548,000 $ 529, % $ 565, % $ 338,000 $ 319, % $ 315, % $ 193,375 $ 203, % $ 200, % Average Price $ 613,921 $ 576, % $ 658, % $ 354,502 $ 327, % $ 337, % $ 208,557 $ 217, % $ 224, % Abbotsford Dec-13 Dec-12 % change Nov-13 % change Dec-13 Dec-12 % change Nov-13 % change Dec-13 Dec-12 % change Nov-13 % change Sales % % % % % % New Listings % % % % % % Active Listings % % % % % % Benchmark Price $ 428,200 $ 421, % $ 430, % $ 206,400 $ 240, % $ 210, % $ 136,700 $ 164, % $ 141, % Median Price $ 389,500 $ 409, % $ 434, % $ 310,000 $ 284, % $ 259, % $ 134,500 $ 141, % $ 134, % Average Price $ 417,437 $ 429, % $ 490, % $ 301,078 $ 272, % $ 265, % $ 139,584 $ 162, % $ 146, % Mission Dec-13 Dec-12 % change Nov-13 % change Dec-13 Dec-12 % change Nov-13 % change Dec-13 Dec-12 % change Nov-13 % change Sales % % % % % New Listings % % % 2 0.0% % 1 0.0% Active Listings % % % % % % Benchmark Price $ 348,300 $ 351, % $ 350, % $ 218,600 $ 227, % $ 226, % $ 155,200 $ 159, % $ 155, % Median Price $ 335,750 $ 354, % $ 330, % $ 225,000 $ 168, % $ 242, % $ 167,000 $ - - $ 129, % Average Price $ 355,716 $ 370, % $ 325, % $ 225,100 $ 168, % $ 242, % $ 167,000 $ - - $ 129, % Source: Fraser Valley Real Estate Board MLS Summary Page 1 of 3

4 White Rock / South Surrey Dec-13 Dec-12 % change Nov-13 % change Dec-13 Dec-12 % change Nov-13 % change Dec-13 Dec-12 % change Nov-13 % change Sales % % % % % % New Listings % % % % % % Active Listings % % % % % % Benchmark Price $ 854,300 $ 822, % $ 845, % $ 458,900 $ 437, % $ 460, % $ 238,000 $ 227, % $ 245, % Median Price $ 845,560 $ 782, % $ 786, % $ 470,000 $ 435, % $ 382, % $ 243,000 $ 238, % $ 278, % Average Price $ 969,456 $ 952, % $ 1,056, % $ 499,192 $ 470, % $ 437, % $ 262,005 $ 286, % $ 312, % Langley Dec-13 Dec-12 % change Nov-13 % change Dec-13 Dec-12 % change Nov-13 % change Dec-13 Dec-12 % change Nov-13 % change Sales % % % % % % New Listings % % % % % % Active Listings % % % % % % Benchmark Price $ 559,200 $ 540, % $ 562, % $ 289,500 $ 292, % $ 285, % $ 206,400 $ 206, % $ 208, % Median Price $ 587,500 $ 540, % $ 591, % $ 328,000 $ 319, % $ 305, % $ 191,500 $ 199, % $ 199, % Average Price $ 610,444 $ 541, % $ 668, % $ 322,689 $ 339, % $ 312, % $ 193,243 $ 202, % $ 205, % Delta - North Dec-13 Dec-12 % change Nov-13 % change Dec-13 Dec-12 % change Nov-13 % change Dec-13 Dec-12 % change Nov-13 % change Sales % % % % % New Listings % % % 15-87% % % Active Listings % % % % % % Benchmark Price $ 531,000 $ 519, % $ 537, % $ 298,000 $ 292, % $ 294, % $ 152,000 $ 165, % $ 157, % Median Price $ 505,000 $ 521, % $ 550, % $ 441,750 $ 366, % $ 628, % $ 145,625 $ - - $ 274, % Average Price $ 519,754 $ 559, % $ 563, % $ 457,250 $ 378, % $ 585, % $ 145,625 $ - - $ 274, % Source: Fraser Valley Real Estate Board MLS Summary Page 2 of 3

5 Surrey - Combined* Dec-13 Dec-12 % change Nov-13 % change Dec-13 Dec-12 % change Nov-13 % change Dec-13 Dec-12 % change Nov-13 % change Sales % % % % % % Average Price $ 574,099 $ 560, % $ 580, % $ 328,614 $ 311, % $ 312, % $ 213,418 $ 215, % $ 202, % *Central Surrey, Cloverdale and North Surrey Surrey - Central Dec-13 Dec-12 % change Nov-13 % change Dec-13 Dec-12 % change Nov-13 % change Dec-13 Dec-12 % change Nov-13 % change Sales % % % % % % New Listings % % % % % % Active Listings % % % % % % Benchmark Price $ 567,800 $ 565, % $ 570, % $ 294,700 $ 297, % $ 293, % $ 183,700 $ 190, % $ 190, % Median Price $ 556,000 $ 560, % $ 567, % $ 330,000 $ 309, % $ 309, % $ 193,000 $ 163, % $ 192, % Average Price $ 587,276 $ 579, % $ 579, % $ 323,217 $ 311, % $ 313, % $ 213,696 $ 180, % $ 209, % Surrey - Cloverdale Dec-13 Dec-12 % change Nov-13 % change Dec-13 Dec-12 % change Nov-13 % change Dec-13 Dec-12 % change Nov-13 % change Sales % % % % % % New Listings % % % % % % Active Listings % % % % % % Benchmark Price $ 580,600 $ 562, % $ 578, % $ 323,900 $ 318, % $ 321, % $ 222,700 $ 225, % $ 225, % Median Price $ 561,750 $ 531, % $ 555, % $ 327,500 $ 322, % $ 326, % $ 217,000 $ 193, % $ 239, % Average Price $ 562,118 $ 565, % $ 575, % $ 348,904 $ 323, % $ 337, % $ 271,850 $ 248, % $ 232, % Surrey - North Dec-13 Dec-12 % change Nov-13 % change Dec-13 Dec-12 % change Nov-13 % change Dec-13 Dec-12 % change Nov-13 % change Sales % % % % % % New Listings % % % % % % Active Listings % % % % % % Benchmark Price $ 533,400 $ 524, % $ 532, % $ 244,200 $ 234, % $ 240, % $ 203,100 $ 204, % $ 203, % Median Price $ 485,000 $ 449, % $ 516, % $ 334,450 $ 291, % $ 261, % $ 204,250 $ 210, % $ 188, % Average Price $ 552,653 $ 516, % $ 584, % $ 310,255 $ 289, % $ 268, % $ 203,116 $ 214, % $ 185, % Source: Fraser Valley Real Estate Board MLS Summary Page 3 of 3

6 MLS 5-year summary - Fraser Valley Year-end 2013 All Sales Grand Totals % change 2010 % change 2008 % change Sales 13,663 13, % 14, % 13, % New Listings 29,338 31, % 31, % 35, % Number of FVREB members 2,769 2, % 2, % 3, % All areas combined % change 2010 % change 2008 % change Sales 6,890 7, % 7, % 6, % New Listings 13,525 14, % 14, % 17, % Median Price $ 548,000 $ 536, % $ 519, % $ 499, % Average Price $ 615,852 $ 597, % $ 559, % $ 537, % Abbotsford % change 2010 % change 2008 % change Sales % 1, % 1, % New Listings 1,799 2, % 2, % 2, % Median Price $ 418,500 $ 415, % $ 424, % $ 424, % Average Price $ 452,361 $ 444, % $ 451, % $ 450, % Mission % change 2010 % change 2008 % change Sales % % % New Listings % % 1, % Median Price $ 355,000 $ 350, % $ 384, % $ 385, % Average Price $ 361,217 $ 367, % $ 385, % $ 392, % Source: Fraser Valley Real Estate Board Year-end MLS Summary Page 1 of 6

7 MLS 5-year summary - Fraser Valley Year-end 2013 White Rock % change 2010 % change 2008 % change Sales 1, % 1, % % New Listings 2,432 2, % 2, % 2, % Median Price $ 820,000 $ 835, % $ 735, % $ 765, % Average Price $ 1,019,986 $ 1,010, % $ 834, % $ 853, % Langley % change 2010 % change 2008 % change Sales 1,251 1, % 1, % 1, % New Listings 1,930 2, % 1, % 2, % Median Price $ 560,000 $ 554, % $ 525, % $ 524, % Average Price $ 589,894 $ 565, % $ 544, % $ 536, % Delta - North % change 2010 % change 2008 % change Sales % % % New Listings % % 1, % Median Price $ 529,500 $ 521, % $ 475, % $ 475, % Average Price $ 563,619 $ 550, % $ 521, % $ 499, % Source: Fraser Valley Real Estate Board Year-end MLS Summary Page 2 of 6

8 MLS 5-year summary - Fraser Valley Year-end 2013 Surrey - Combined* % change 2010 % change 2008 % change Sales 2,630 2, % 3, % 2, % Average Price $ 578,643 $ 567, % $ 538, % $ 528, % *Central Surrey, Cloverdale and North Surrey Surrey - Central % change 2010 % change 2008 % change Sales 1,352 1, % 1, % 1, % New Listings 3,184 3, % 3, % 4, % Median Price $ 574,450 $ 552, % $ 525, % $ 519, % Average Price $ 589,505 $ 577, % $ 540, % $ 535, % Surrey - Cloverdale % change 2010 % change 2008 % change Sales % % % New Listings 1,027 1, % 1, % 1, % Median Price $ 551,000 $ 545, % $ 548, % $ 529, % Average Price $ 569,600 $ 567, % $ 555, % $ 537, % Surrey - North % change 2010 % change 2008 % change Sales % % % New Listings 1,445 1, % 1, % 2, % Median Price $ 505,000 $ 492, % $ 452, % $ 453, % Average Price $ 565,079 $ 547, % $ 517, % $ 506, % Source: Fraser Valley Real Estate Board Year-end MLS Summary Page 3 of 6

9 MLS 5-year summary - Fraser Valley Year-end 2013 All Sales Grand Totals % change 2010 % change 2008 % change Sales 13,663 13, % 14, % 13, % New Listings 29,338 31, % 31, % 35, % Number of FVREB members 2,769 2, % 2, % 3, % All areas combined % change 2010 % change 2008 % change % change 2010 % change 2008 % change Sales 2,856 2, % 2, % 2, % 2,321 2, % 2, % 2, % New Listings 5,181 5, % 4, % 5, % 5,186 5, % 5, % 5, % Median Price $ 324,700 $ 325, % $ 328, % $ 326, % $ 200,000 $ 207, % $ 213, % $ 220, % Average Price $ 337,811 $ 340, % $ 336, % $ 334, % $ 219,196 $ 220, % $ 223, % $ 229, % Abbotsford % change 2010 % change 2008 % change % change 2010 % change 2008 % change Sales % % % % % % New Listings % % % % 1, % 1, % Median Price $ 261,000 $ 267, % $ 265, % $ 285, % $ 150,600 $ 152, % $ 166, % $ 191, % Average Price $ 264,458 $ 262, % $ 273, % $ 287, % $ 162,075 $ 159, % $ 174, % $ 197, % Mission % change 2010 % change 2008 % change % change 2010 % change 2008 % change Sales % % % % % % New Listings % % % % % % Median Price $ 219,500 $ 233, % $ 249, % $ 293, % $ 150,500 $ 153, % $ 183, % $ 196, % Average Price $ 213,887 $ 231, % $ 249, % $ 292, % $ 162,050 $ 162, % $ 191, % $ 196, % Source: Fraser Valley Real Estate Board Year-end MLS Summary Page 4 of 6

10 MLS 5-year summary - Fraser Valley Year-end 2013 White Rock % change 2010 % change 2008 % change % change 2010 % change 2008 % change Sales % % % % % % New Listings % % % 1,184 1, % 1, % 1, % Median Price $ 420,000 $ 433, % $ 430, % $ 414, % $ 271,768 $ 274, % $ 280, % $ 279, % Average Price $ 464,111 $ 480, % $ 468, % $ 461, % $ 308,309 $ 302, % $ 305, % $ 305, % Langley % change 2010 % change 2008 % change % change 2010 % change 2008 % change Sales % % % % % % New Listings 1,000 1, % % 1, % % % % Median Price $ 317,000 $ 315, % $ 321, % $ 318, % $ 202,950 $ 212, % $ 218, % $ 228, % Average Price $ 321,277 $ 325, % $ 327, % $ 324, % $ 205,704 $ 213, % $ 217, % $ 229, % Delta - North % change 2010 % change 2008 % change % change 2010 % change 2008 % change Sales % % % % % % New Listings % % % % % % Median Price $ 470,000 $ 431, % $ 389, % $ 320, % $ 193,250 $ 149, % $ 207, % $ 242, % Average Price $ 472,671 $ 440, % $ 396, % $ 322, % $ 175,939 $ 180, % $ 206, % $ 231, % Source: Fraser Valley Real Estate Board Year-end MLS Summary Page 5 of 6

11 MLS 5-year summary - Fraser Valley Year-end 2013 Surrey - Combined* % change 2010 % change 2008 % change % change 2010 % change 2008 % change Sales 1,298 1, % 1, % 1, % % 1, % % Average Price $ 318,545 $ 322, % $ 321, % $ 324, % $ 207,257 $ 212, % $ 215, % $ 215, % *Central Surrey, Cloverdale and North Surrey Surrey - Central % change 2010 % change 2008 % change % change 2010 % change 2008 % change Sales % % % % % % New Listings 1,457 1, % 1, % 1, % % % % Median Price $ 323,193 $ 329, % $ 330, % $ 330, % $ 195,000 $ 201, % $ 215, % $ 209, % Average Price $ 322,165 $ 326, % $ 327, % $ 328, % $ 198,831 $ 201, % $ 211, % $ 209, % Surrey - Cloverdale % change 2010 % change 2008 % change % change 2010 % change 2008 % change Sales % % % % % % New Listings % % % % % % Median Price $ 319,450 $ 326, % $ 333, % $ 336, % $ 215,000 $ 215, % $ 242, % $ 237, % Average Price $ 331,182 $ 334, % $ 340, % $ 343, % $ 226,251 $ 225, % $ 244, % $ 243, % Surrey - North % change 2010 % change 2008 % change % change 2010 % change 2008 % change Sales % % % % % % New Listings % % % 1,284 1, % 1, % 1, % Median Price $ 285,000 $ 270, % $ 272, % $ 283, % $ 197,425 $ 207, % $ 206, % $ 207, % Average Price $ 285,272 $ 283, % $ 270, % $ 281, % $ 206,088 $ 213, % $ 211, % $ 214, % Source: Fraser Valley Real Estate Board Year-end MLS Summary Page 6 of 6

12 MLS Home Price Index - Fraser Valley December 2013 BENCHMARK INDEX ONE MONTH THREE MONTH SIX MONTH ONE YEAR THREE YEAR FIVE YEAR PRICE (HPI) % CHANGE % CHANGE % CHANGE % CHANGE % CHANGE % CHANGE RESIDENTIAL LOWER MAINLAND 540, COMBINED FRASER VALLEY BOARD 422, NORTH DELTA 492, NORTH SURREY 374, SURREY 445, CLOVERDALE 477, SOUTH SURREY & WHITE ROCK 597, LANGLEY 422, ABBOTSFORD 306, MISSION 329, DETACHED LOWER MAINLAND 759, FRASER VALLEY BOARD 549, NORTH DELTA 531, NORTH SURREY 533, SURREY 567, CLOVERDALE 580, SOUTH SURREY & WHITE ROCK 854, LANGLEY 559, ABBOTSFORD 428, MISSION 348, TOWNHOUSE LOWER MAINLAND 387, FRASER VALLEY BOARD 293, NORTH DELTA 298, NORTH SURREY 244, SURREY 294, CLOVERDALE 323, SOUTH SURREY & WHITE ROCK 458, LANGLEY 289, ABBOTSFORD 206, MISSION 218, APARTMENT LOWER MAINLAND 334, FRASER VALLEY BOARD 192, NORTH DELTA 152, NORTH SURREY 203, SURREY 183, CLOVERDALE 222, SOUTH SURREY & WHITE ROCK 238, LANGLEY 206, ABBOTSFORD 136, MISSION 155, Fraser Valley Real Estate Board All indices equal 100 in January, An index of 120 indicates a 20% increase in price since January, Lower Mainland combines data across the Fraser Valley and Greater Vancouver real estate board areas.

13 Sales, Listings & Active Inventory, All Types, Fraser Valley Actives Listings Sales 14,000 12,000 10,000 8,000 6,000 4,000 2,

14 Sales to Active Listings Ratio, All Types, Fraser Valley Ratio Sellers Market Balanced Market Buyers Market 10 5 DECEMBER: 12% Fraser Valley Real Estate Board

15 MLS Home Price Index, Fraser Valley

16 MLS Home Price Index Benchmark Prices, Fraser Valley $700,000 $600,000 $500,000 $400,000 $300,000 $200,000 $100,000 $

17 $700,000 $600, $500,000 $400,000 $300,000 $200,000 $100,000 $0 Average Price,Residential, all Fraser Valley

18 40,000 35,000 30,000 25,000 20,000 15,000 10,000 5,000 Annual Sales, New Listings, Average Price All Property Types, Fraser Valley Sales New Listings Average Price $600,000 $500,000 $400,000 $300,000 $200,000 $100,000 $