Fraser Valley Real Estate Board. Monthly Statistics Package

Transcription

1 Fraser Valley Real Estate Board Monthly Statistics Package February 2014

2 News Release Fraser Valley Real Estate Board For Immediate Release: Mar. 4, 2014 Fraser Valley market showing signs of spring SURREY, BC The Fraser Valley Real Estate Board s Multiple Listing Service (MLS ) recorded 1,102 sales in February, an increase of 43 per cent over January s sales and an increase of 21 per cent over the 913 sales during February of last year. Ray Werger, President of the Board, says, The last time we saw an improvement in the market this early in the year was two years ago when we ended up having a solid, steady market from February through to mid summer. It s too early to predict whether this year will be similar, but for now sales are up and the average number of days to sell a detached home is one week faster than it was in January. Werger adds, Although sales have picked up, it s important to mention that they re still hovering about 10 per cent below our 10 year average and the increases in activity are specific to property type and location, so be sure to ask your REALTOR how your home and neighbourhood compare. The Board posted 2,666 new listings last month, an increase of 3 per cent compared to the 2,582 posted during February of last year bringing the total number of active listings in February to 8, per cent more than were available in January and 8 per cent less than were available during February Werger adds, Generally, we re finding for all property types if they re priced right there is a buyer; however, demand for single family detached homes and townhomes is the most consistent with certain pockets in Langley, Abbotsford and North Delta that are thriving, which is why prices for detached homes in those areas are either on par or elevated compared to last year. Fraser Valley s condo market, moderately busier in February, continues to favour buyers offering excellent opportunities due to higher levels of inventory and prices comparable to what they were eight years ago. In February, the benchmark price of single family detached homes in the Fraser Valley was $558,100, an increase of 3.2 per cent compared to $540,900 during the same month last year. For townhouses, the benchmark price was $298,900, an increase of 0.7 per cent compared to $296,700 in February 2013 and the benchmark price of apartments was $193,200, a decrease of 4.6 per cent compared to $202,500 in February In February, it took on average 51 days to sell a detached home compared to 58 days in January. Townhomes took 55 days on average to sell compared to 60 days the month before and apartments spent an average of 70 days on the market in February compared to 86 days in January. 30 The Fraser Valley Real Estate Board is an association of 2,791 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 February 2014 All Property Types All Property Types Grand Totals Feb-14 Feb-13 % change Jan-14 % change Grand Totals - year to date % change Sales 1, % % Sales - year to date 1,874 1, % New Listings 2,666 2, % 2, % New Listings - year to date 5,342 5, % Active Listings 8,210 8, % 7, % Average Price $ 519,082 $ 471, % $ 490, % All Areas Combined Feb-14 Feb-13 % change Jan-14 % change Feb-14 Feb-13 % change Jan-14 % change Feb-14 Feb-13 % change Jan-14 % change Sales % % % % % % New Listings 1,150 1, % 1, % % % % % Active Listings 3,060 3, % 2, % 1,215 1, % 1, % 1,562 1, % 1, % Benchmark Price $ 558,100 $ 540, % $ 552, % $ 298,900 $ 296, % $ 297, % $ 193,200 $ 202, % $ 192, % Median Price $ 560,000 $ 528, % $ 549, % $ 329,950 $ 331, % $ 316, % $ 207,000 $ 202, % $ 190, % Average Price $ 644,574 $ 587, % $ 606, % $ 353,931 $ 336, % $ 325, % $ 218,245 $ 224, % $ 203, % Abbotsford Feb-14 Feb-13 % change Jan-14 % change Feb-14 Feb-13 % change Jan-14 % change Feb-14 Feb-13 % change Jan-14 % change Sales % % % % % % New Listings % % % % % % Active Listings % % % % % % Benchmark Price $ 433,200 $ 423, % $ 425, % $ 213,100 $ 233, % $ 209, % $ 136,100 $ 172, % $ 137, % Median Price $ 407,750 $ 442, % $ 425, % $ 282,000 $ 290, % $ 245, % $ 135,000 $ 211, % $ 135, % Average Price $ 426,783 $ 468, % $ 456, % $ 275,710 $ 289, % $ 240, % $ 155,473 $ 225, % $ 142, % Mission Feb-14 Feb-13 % change Jan-14 % change Feb-14 Feb-13 % change Jan-14 % change Feb-14 Feb-13 % change Jan-14 % change Sales % % % 2 0.0% % % New Listings % % % % % % Active Listings % % % % % % Benchmark Price $ 352,800 $ 351, % $ 349, % $ 219,700 $ 233, % $ 218, % $ 157,200 $ 162, % $ 157, % Median Price $ 378,000 $ 322, % $ 360, % $ 163,150 $ 169, % $ 205, % $ 181,750 $ 90, % $ 82, % Average Price $ 381,673 $ 351, % $ 371, % $ 163,150 $ 174, % $ 205, % $ 173,907 $ 90, % $ 119, % Source: Fraser Valley Real Estate Board MLS Summary Page 1 of 3

4 White Rock / South Surrey Feb-14 Feb-13 % change Jan-14 % change Feb-14 Feb-13 % change Jan-14 % change Feb-14 Feb-13 % change Jan-14 % change Sales % % % % % % New Listings % % % % % % Active Listings % % % % % % Benchmark Price $ 872,300 $ 840, % $ 862, % $ 456,900 $ 455, % $ 458, % $ 238,400 $ 234, % $ 228, % Median Price $ 893,598 $ 879, % $ 820, % $ 462,000 $ 430, % $ 475, % $ 267,500 $ 250, % $ 263, % Average Price $ 1,166,968 $ 1,025, % $ 929, % $ 489,109 $ 458, % $ 474, % $ 289,511 $ 308, % $ 302, % Langley Feb-14 Feb-13 % change Jan-14 % change Feb-14 Feb-13 % change Jan-14 % change Feb-14 Feb-13 % change Jan-14 % change Sales % % % % % % New Listings % % % % % % Active Listings % % % % % % Benchmark Price $ 574,400 $ 541, % $ 568, % $ 295,400 $ 286, % $ 295, % $ 206,100 $ 213, % $ 207, % Median Price $ 617,550 $ 551, % $ 565, % $ 314,250 $ 321, % $ 297, % $ 196,700 $ 192, % $ 185, % Average Price $ 628,094 $ 558, % $ 585, % $ 313,648 $ 321, % $ 301, % $ 193,724 $ 204, % $ 189, % Delta - North Feb-14 Feb-13 % change Jan-14 % change Feb-14 Feb-13 % change Jan-14 % change Feb-14 Feb-13 % change Jan-14 % change Sales % % % % % % New Listings % % % 12 33% % % Active Listings % % % % % % Benchmark Price $ 545,400 $ 514, % $ 532, % $ 309,800 $ 293, % $ 301, % $ 156,500 $ 166, % $ 153, % Median Price $ 570,000 $ 521, % $ 585, % $ 593,000 $ 534, % $ 220, % $ 221,950 $ 209, % $ 191, % Average Price $ 593,340 $ 544, % $ 596, % $ 567,880 $ 462, % $ 252, % $ 250,033 $ 209, % $ 191, % Source: Fraser Valley Real Estate Board MLS Summary Page 2 of 3

5 Surrey - Combined* Feb-14 Feb-13 % change Jan-14 % change Feb-14 Feb-13 % change Jan-14 % change Feb-14 Feb-13 % change Jan-14 % change Sales % % % % % % Average Price $ 583,111 $ 553, % $ 558, % $ 332,525 $ 318, % $ 327, % $ 218,572 $ 191, % $ 196, % *Central Surrey, Cloverdale and North Surrey Surrey - Central Feb-14 Feb-13 % change Jan-14 % change Feb-14 Feb-13 % change Jan-14 % change Feb-14 Feb-13 % change Jan-14 % change Sales % % % % % % New Listings % % % % % % Active Listings % % % % % % Benchmark Price $ 570,400 $ 561, % $ 566, % $ 298,800 $ 298, % $ 298, % $ 188,300 $ 191, % $ 183, % Median Price $ 570,000 $ 539, % $ 585, % $ 328,880 $ 330, % $ 322, % $ 197,500 $ 185, % $ 191, % Average Price $ 589,857 $ 570, % $ 589, % $ 333,138 $ 327, % $ 324, % $ 207,040 $ 191, % $ 185, % Surrey - Cloverdale Feb-14 Feb-13 % change Jan-14 % change Feb-14 Feb-13 % change Jan-14 % change Feb-14 Feb-13 % change Jan-14 % change Sales % % % % % % New Listings % % % % % % Active Listings % % % % % % Benchmark Price $ 587,400 $ 559, % $ 579, % $ 336,700 $ 319, % $ 330, % $ 220,700 $ 221, % $ 227, % Median Price $ 592,500 $ 519, % $ 540, % $ 334,750 $ 324, % $ 339, % $ 230,000 $ 183, % $ 185, % Average Price $ 615,314 $ 534, % $ 556, % $ 348,317 $ 325, % $ 346, % $ 286,928 $ 181, % $ 206, % Surrey - North Feb-14 Feb-13 % change Jan-14 % change Feb-14 Feb-13 % change Jan-14 % change Feb-14 Feb-13 % change Jan-14 % change Sales % % % % % % New Listings % % % % % % Active Listings % % % % % % Benchmark Price $ 540,800 $ 529, % $ 541, % $ 249,300 $ 237, % $ 249, % $ 204,300 $ 198, % $ 204, % Median Price $ 480,500 $ 472, % $ 461, % $ 252,000 $ 247, % $ 305, % $ 203,900 $ 176, % $ 192, % Average Price $ 543,406 $ 531, % $ 514, % $ 236,360 $ 251, % $ 306, % $ 208,963 $ 196, % $ 202, % Source: Fraser Valley Real Estate Board MLS Summary Page 3 of 3

6 MLS Home Price Index - Fraser Valley February 2014 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 546, COMBINED FRASER VALLEY BOARD 428, NORTH DELTA 506, NORTH SURREY 378, SURREY 449, CLOVERDALE 485, SOUTH SURREY & WHITE ROCK 605, LANGLEY 431, ABBOTSFORD 310, MISSION 333, DETACHED LOWER MAINLAND 766, FRASER VALLEY BOARD 558, NORTH DELTA 545, NORTH SURREY 540, SURREY 570, CLOVERDALE 587, SOUTH SURREY & WHITE ROCK 872, LANGLEY 574, ABBOTSFORD 433, MISSION 352, TOWNHOUSE LOWER MAINLAND 391, FRASER VALLEY BOARD 298, NORTH DELTA 309, NORTH SURREY 249, SURREY 298, CLOVERDALE 336, SOUTH SURREY & WHITE ROCK 456, LANGLEY 295, ABBOTSFORD 213, MISSION 219, APARTMENT LOWER MAINLAND 338, FRASER VALLEY BOARD 193, NORTH DELTA 156, NORTH SURREY 204, SURREY 188, CLOVERDALE 220, SOUTH SURREY & WHITE ROCK 238, LANGLEY 206, ABBOTSFORD 136, MISSION 157, 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.

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

8 Sales to Active Listings Ratio, All Types, Fraser Valley Ratio Sellers Market Balanced Market 15 Buyers Market 10 5 FEBRUARY: 13% Fraser Valley Real Estate Board

9 MLS Home Price Index, Fraser Valley

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

11 $700,000 $600, $500,000 $400,000 $300,000 $200,000 $100,000 $0 Average Price,Residential Detached, all Fraser Valley

12 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 $