Fraser Valley Real Estate Board. Monthly Statistics Package

Transcription

1 Fraser Valley Real Estate Board Monthly Statistics Package February 2011

2 Fraser Valley Real Estate Board NEWS RELEASE For immediate release: March 2, 2011 EARLY SPRING SURGE IN SALES & NEW LISTINGS IN FRASER VALLEY (Surrey, BC) The Fraser Valley Real Estate Board processed 1,279 sales on the Multiple Listing Service (MLS ) in February, an increase of six per cent compared with 1,204 sold during February 2010, and 53 per cent more than the 834 listings that sold last month. Sukh Sidhu, Board president, confirms the market is more active earlier than expected. Fraser Valley REALTORS are busy. We sold 659 detached homes last month compared to 398 in January. We also saw the greatest amount of new inventory come on stream since last summer. We think one of the drivers is the change in mortgage rules that is coming up on March 18. Some clients have asked that their sale complete before that date. Plus, our REALTORS are telling us that almost fifty per cent of their buyers paid less than 25 per cent as a down payment for their home purchases during the first half of February. A 35-year amortization could be more attractive to those buyers. In February, the benchmark price for Fraser Valley detached homes was $514,161, an increase of 1.2 per cent from the February 2010 price of $508,136. The benchmark price of Fraser Valley townhouses in February was $316,578, a 2.5 per cent decrease compared to $324,708 in February The benchmark price of apartments remained on par year-over-year going from $245,879 in February 2010 to $245,519 in February The MLS received 3,038 new listings in February, an increase of 15.4 per cent compared to the volume received in January and 6.2 per cent more than the 2,879 new listings received during February last year. Last month finished with 8,680 active listings, an increase of 2.3 per cent compared to the 8,485 active listings available during February 2010, and 12.4 per cent more than were available in January Information and photos of all Fraser Valley Real Estate Board listings can be found on the national, public web site Further market statistics can be found on the Board s web page at The Fraser Valley Real Estate Board is an association of 2,898 real estate professionals who live and work in the communities of North Delta, Surrey, White Rock, Langley, Abbotsford, and Mission. Contact: Laurie Dawson, Communications Coordinator Fraser Valley Real Estate Board, Avenue, Surrey, BC V3R 1N9 Tel: Fax: laurie.dawson@fvreb.bc.ca

3 MLS Summary - Fraser Valley February 2011 All Property Types All Property Types Grand Totals Feb-11 Feb-10 % change Jan-11 % change Grand Totals - year to date % change Sales 1,279 1, % % Sales - year to date 2,111 2, % New Listings 3,038 2, % 2, % New Listings - year to date 5,670 5, % Active Listings 8,680 8, % 7, % Average Price $ 479,290 $ 426, % $ 440, % Residential Totals Feb-11 Feb-10 % change Jan-11 % change Feb-11 Feb-10 % change Jan-11 % change Feb-11 Feb-10 % change Jan-11 % change Sales % % % % % % New Listings 1,456 1, % 1, % % % % % Active Listings 3,678 3, % 3, % 1, % % 1,610 1, % 1, % Benchmark Price $ 514,161 $ 508, % $ 505, % $ 316,578 $ 324, % $ 317, % $ 245,519 $ 245, % $ 237, % Median Price $ 544,500 $ 489, % $ 529, % $ 327,450 $ 320, % $ 319, % $ 214,000 $ 216, % $ 203, % Average Price $ 598,609 $ 531, % $ 565, % $ 329,235 $ 330, % $ 328, % $ 224,068 $ 225, % $ 213, % Abbotsford Feb-11 Feb-10 % change Jan-11 % change Feb-11 Feb-10 % change Jan-11 % change Feb-11 Feb-10 % change Jan-11 % change Sales % % % % % % New Listings % % % % % % Active Listings % % % % % % Benchmark Price $ 427,848 $ 427, % $ 424, % $ 264,648 $ 280, % $ 269, % $ 217,546 $ 210, % $ 208, % Median Price $ 414,900 $ 400, % $ 408, % $ 218,000 $ 280, % $ 260, % $ 181,000 $ 165, % $ 167, % Average Price $ 446,177 $ 427, % $ 418, % $ 249,777 $ 285, % $ 283, % $ 181,336 $ 175, % $ 169, % Mission Feb-11 Feb-10 % change Jan-11 % change Feb-11 Feb-10 % change Jan-11 % change Feb-11 Feb-10 % change Jan-11 % change Sales % % % % % 2 - New Listings % % % 9 0.0% % % Active Listings % % % % % % Benchmark Price $ 340,362 $ 360, % $ 354, % Median Price $ 340,100 $ 395, % $ 353, % $ 204,500 $ 237, % $ 197, % $ 143,200 $ 190, % $ 152,000 - Average Price $ 342,262 $ 399, % $ 348, % $ 226,774 $ 225, % $ 220, % $ 166,180 $ 192, % $ 168,500 - Source: Fraser Valley Real Estate Board MLS Summary Page 1 of 3

4 MLS Summary - Fraser Valley February 2011 White Rock / South Surrey Feb-11 Feb-10 % change Jan-11 % change Feb-11 Feb-10 % change Jan-11 % change Feb-11 Feb-10 % change Jan-11 % change Sales % % % % % % New Listings % % % % % % Active Listings % % % % % % Benchmark Price $ 782,773 $ 738, % $ 724, % $ 452,253 $ 465, % $ 463, % $ 304,941 $ 329, % $ 284, % Median Price $ 826,500 $ 720, % $ 675, % $ 390,000 $ 430, % $ 405, % $ 233,000 $ 277, % $ 265, % Average Price $ 905,934 $ 784, % $ 795, % $ 420,239 $ 479, % $ 429, % $ 286,823 $ 312, % $ 285, % Langley Feb-11 Feb-10 % change Jan-11 % change Feb-11 Feb-10 % change Jan-11 % change Feb-11 Feb-10 % change Jan-11 % change Sales % % % % % % New Listings % % % % % % Active Listings % % % % % % Benchmark Price $ 512,697 $ 523, % $ 511, % $ 320,758 $ 321, % $ 311, % $ 243,380 $ 239, % $ 242, % Median Price $ 510,000 $ 515, % $ 540, % $ 301,820 $ 307, % $ 305, % $ 219,000 $ 215, % $ 225, % Average Price $ 533,710 $ 528, % $ 567, % $ 324,493 $ 314, % $ 309, % $ 226,579 $ 214, % $ 218, % Delta - North Feb-11 Feb-10 % change Jan-11 % change Feb-11 Feb-10 % change Jan-11 % change Feb-11 Feb-10 % change Jan-11 % change Sales % % % % % % New Listings % % % 14 14% % % Active Listings % % % % % % Benchmark Price $ 522,733 $ 531, % $ 507, % Median Price $ 480,000 $ 458, % $ 480, % 459, , % 416, % $ 219,500 $ 207, % $ 130, % Average Price $ 517,445 $ 492, % $ 563, % 456, , % 425, % $ 229,875 $ 237, % $ 194, % Source: Fraser Valley Real Estate Board MLS Summary Page 2 of 3

5 MLS Summary - Fraser Valley February 2011 Surrey - Combined* Feb-11 Feb-10 % change Jan-11 % change Feb-11 Feb-10 % change Jan-11 % change Feb-11 Feb-10 % change Jan-11 % change Sales % % % % % % Average Price $ 536,923 $ 532, % $ 539, % $ 322,298 $ 317, % $ 310, % $ 210,887 $ 214, % $ 203, % *Central Surrey, Cloverdale and North Surrey Surrey - Central Feb-11 Feb-10 % change Jan-11 % change Feb-11 Feb-10 % change Jan-11 % change Feb-11 Feb-10 % change Jan-11 % change Sales % % % % % % New Listings % % % % % % Active Listings 838 1, % % % % % % Benchmark Price $ 531,360 $ 515, % $ 529, % $ 322,284 $ 321, % $ 319, % Median Price $ 517,000 $ 500, % $ 535, % $ 332,699 $ 329, % $ 324, % $ 190,500 $ 197, % $ 213, % Average Price $ 535,587 $ 520, % $ 546, % $ 331,703 $ 322, % $ 313, % $ 194,986 $ 196, % $ 206, % Surrey - Cloverdale Feb-11 Feb-10 % change Jan-11 % change Feb-11 Feb-10 % change Jan-11 % change Feb-11 Feb-10 % change Jan-11 % change Sales % % % % % % New Listings % % % % % % Active Listings % % % % % % Benchmark Price $ 557,098 $ 540, % $ 521, % Median Price $ 568,080 $ 537, % $ 509, % $ 323,300 $ 339, % $ 315, % $ 225,000 $ 250, % $ 186, % Average Price $ 578,238 $ 548, % $ 526, % $ 328,562 $ 342, % $ 323, % $ 254,977 $ 268, % $ 203, % Surrey - North Feb-11 Feb-10 % change Jan-11 % change Feb-11 Feb-10 % change Jan-11 % change Feb-11 Feb-10 % change Jan-11 % change Sales % % % % % % New Listings % % % % % % Active Listings % % % % % % Benchmark Price $ 486,835 $ 473, % $ 480, % $ 264,403 $ 290, % $ 280, % $ 240,400 $ 238, % $ 234, % Median Price $ 465,000 $ 452, % $ 516, % $ 234,000 $ 287, % $ 290, % $ 209,000 $ 209, % $ 200, % Average Price $ 500,549 $ 538, % $ 533, % $ 269,009 $ 269, % $ 283, % $ 212,559 $ 212, % $ 202, % Source: Fraser Valley Real Estate Board MLS Summary Page 3 of 3

6 Housing Price Index - Fraser Valley February 2011 BENCHMARK INDEX ONE MONTH THREE MONTH SIX MONTH ONE YEAR THREE YEAR FIVE YEAR PRICE (HPI) % CHANGE % CHANGE % CHANGE % CHANGE % CHANGE % CHANGE RESIDENTIAL FRASER VALLEY BOARD 455, DETACHED FRASER VALLEY BOARD 514, NORTH DELTA 522, NORTH DELTA ANNIEVILLE 432, NORTH DELTA NORDEL 526, NORTH DELTA SCOTTSDALE 482, NORTH DELTA SUNSHINE HILLS & WOODS 654, NORTH SURREY 486, NORTH SURREY BOLIVAR HEIGHTS 391, NORTH SURREY CEDAR HILLS 439, NORTH SURREY FRASER HEIGHTS 711, NORTH SURREY GUILDFORD 503, NORTH SURREY OTHER 381, SURREY 531, SURREY BEAR CREEK GREEN TIMBERS 502, SURREY EAST NEWTON 506, SURREY FLEETWOOD TYNEHEAD 585, SURREY PANORAMA RIDGE SULLIVAN 579, SURREY QUEEN MARY PARK 482, SURREY WEST NEWTON 518, CLOVERDALE 557, SOUTH SURREY & WHITE ROCK 782, SOUTH SURREY CRESCENT BCH OCEAN PRK 853, SOUTH SURREY ELGIN CHANTRELL 1,276, SOUTH SURREY KING GEORGE CORRIDOR 586, SOUTH SURREY SOUTH-EAST 1,049, SOUTH SURREY SUNNYSIDE PARK 754, SOUTH SURREY WHITE ROCK 624, LANGLEY 512, LANGLEY ALDERGROVE 430, LANGLEY CITY MURRYVL WILLOBY BRKSWD 520, LANGLEY WALNUT GROVE 547, Fraser Valley Real Estate Board All indices equal 100 in An index of 120 indicates a 20% increase in price since 2001 HPI Summary Page 1 of 2

7 Housing Price Index - Fraser Valley February 2011 BENCHMARK INDEX ONE MONTH THREE MONTH SIX MONTH ONE YEAR THREE YEAR FIVE YEAR PRICE (HPI) % CHANGE % CHANGE % CHANGE % CHANGE % CHANGE % CHANGE DETACHED ABBOTSFORD 427, continued ABBOTSFORD CENTRAL POPLAR 381, ABBOTSFORD EAST 460, ABBOTSFORD WEST 423, MISSION 340, TOWNHOUSE FRASER VALLEY BOARD 316, NORTH SURREY GUILDFORD 264, SURREY 322, SURREY FLEETWOOD 369, SURREY OTHER 303, SOUTH SURREY & WHITE ROCK 452, LANGLEY 320, ABBOTSFORD 264, APARTMENT FRASER VALLEY BOARD 245, NORTH SURREY 240, NORTH SURREY WHALLEY 239, NORTH SURREY GUILDFORD 241, SOUTH SURREY WHITE ROCK 304, LANGLEY 243, ABBOTSFORD 217, ACREAGE FRASER VALLEY BOARD 885, SURREY, CLOVERDALE & N. SURREY 1,103, SOUTH SURREY & WHITE ROCK 1,254, LANGLEY 872, ABBOTSFORD 1,069, MISSION 526, Fraser Valley Real Estate Board All indices equal 100 in An index of 120 indicates a 20% increase in price since 2001 HPI Summary Page 2 of 2

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

9 Sales-to-Active Listings Ratio, All Types, Fraser Valley Sellers Market 20 Balanced Market 15 Buyers Market 10 5 Ratio in February: 15%

10 Housing Price Index, Fraser Valley HPI - Detached HPI -Townhouse HPI - Apartment Housing Price Index value

11 Benchmark Price, By Type, Fraser Valley Apartment Townhouse Detached $600,000 $500,000 $400,000 $300,000 $200,000 $100,000 $

12 Average Price, residential detached homes, all Fraser Valley $700,000 $600, $500,000 $400,000 $300,000 $200,000 $100,000 $

13 Annual Sales, New Listings, Average Price; All Property Types; Fraser Valley Sales New Listings Average Price 40, $500, ,000 30,000 25,000 $450,000 $400,000 $350,000 $300, ,000 $250,000 15,000 10,000 5,000 $200,000 $150,000 $100, $50, $-