Fraser Valley Real Estate Board. Monthly Statistics Package

Transcription

1 Fraser Valley Real Estate Board Monthly Statistics Package April 2018

2 News Release Fraser Valley Real Estate Board For Immediate Release: May 2, 2018 New Fraser Valley listings stood-up as spring market fails to show in April SURREY, BC Buyer activity in the Fraser Valley stayed coy throughout April despite a bump in inventory across all three major residential types. The Fraser Valley Real Estate Board processed 1,708 sales of all property types on its Multiple Listing Service (MLS ) in April, a decrease of 23.4 per cent compared to the 2,230 sales in April of last year, and a 2.6 per cent increase compared to the 1,664 sales in March Of the 1,708 sales processed last month 413 were townhouses and 498 were apartments, together representing 53 per cent of all transactions in April. Active inventory for the Fraser Valley finished at 5,667 listings last month, increasing 18.2 per cent month-over-month, and 15.3 per cent when compared to April "While it's great to see the increase in inventory we were looking for, both buyers and sellers remain careful as pricing continues to climb," said John Barbisan, Board President. The Board received 3,429 new listings in April, a 19.7 per cent increase from March 2018 s 2,865 new listings, and a 16.2 per cent increase compared to April "This isn t the same spring market we saw each of the last two years, but listings that are selling are still going fast. If you re considering buying or transitioning from a strata to a detached home, be prepared to move quickly, and talk to a REALTOR who can support you through the whole process. For the Fraser Valley region the average number of days to sell an apartment in April was 14, and 16 for townhomes. Single family detached homes remained on the market for an average of 26 days before selling. HPI Benchmark Price Activity Single Family Detached: At $1,009,200, the Benchmark price for a single family detached home in the Valley increased 0.8 per cent compared to March 2018, and increased 13.5 per cent compared to April Townhomes: At $549,900, the Benchmark price for a townhome in the Fraser Valley increased 1.5 per cent compared to March 2018, and increased 23 per cent compared to April Apartments: At $447,500, the Benchmark price for apartments/condos in the Fraser Valley increased 1.6 per cent compared to March 2018, and increased 45.8 per cent compared to April The Fraser Valley Real Estate Board is an association of 3,570 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 Michael Gleboff, Communications Coordinator michael.gleboff@fvreb.bc.ca Fraser Valley Real Estate Board Telephone Fax

3 MLS Summary - Fraser Valley April 2018 All Property Types All Property Types Grand Totals Apl-18 Apl-17 % change Mar-18 % change Grand Totals - year to date % change Sales 1,708 2, % 1, % Sales - year to date 5,960 6, % New Listings 3,429 2, % 2, % New Listings - year to date 10,679 10, % Active Listings 5,667 4, % 4, % Average Price $ 792,975 $ 710, % $ 757, % All Areas Combined Apl-18 Apl-17 % change Mar-18 % change Apl-18 Apl-17 % change Mar-18 % change Apl-18 Apl-17 % change Mar-18 % change Sales % % % % % % New Listings 1,441 1, % 1, % % % % % Active Listings 2,415 2, % 1, % % % % % Benchmark Price $ 1,009,200 $ 889, % $ 1,001, % $ 549,900 $ 447, % $ 541, % $ 447,500 $ 307, % $ 440, % Median Price $ 981,000 $ 860, % $ 960, % $ 595,000 $ 500, % $ 602, % $ 399,844 $ 283, % $ 390, % Average Price $ 1,079,760 $ 954, % $ 1,050, % $ 617,023 $ 510, % $ 610, % $ 417,688 $ 306, % $ 403, % Abbotsford Apl-18 Apl-17 % change Mar-18 % change Apl-18 Apl-17 % change Mar-18 % change Apl-18 Apl-17 % change Mar-18 % change Sales % % % % % % New Listings % % % % % % Active Listings % % % % % % Benchmark Price $ 825,300 $ 702, % $ 814, % $ 390,200 $ 306, % $ 383, % $ 346,600 $ 231, % $ 336, % Median Price $ 781,000 $ 691, % $ 786, % $ 503,000 $ 406, % $ 526, % $ 320,000 $ 220, % $ 333, % Average Price $ 838,992 $ 740, % $ 842, % $ 485,050 $ 390, % $ 519, % $ 320,786 $ 244, % $ 333, % Mission Apl-18 Apl-17 % change Mar-18 % change Apl-18 Apl-17 % change Mar-18 % change Apl-18 Apl-17 % change Mar-18 % change Sales % % % % % % New Listings % % % % % % Active Listings % % % % % % Benchmark Price $ 686,600 $ 583, % $ 676, % $ 449,300 $ 360, % $ 446, % $ 346,300 $ 255, % $ 329, % Median Price $ 727,750 $ 581, % $ 679, % $ 554,700 $ 340, % $ 569, % $ 346,450 $ 220, % $ 309, % Average Price $ 768,884 $ 591, % $ 700, % $ 534,649 $ 307, % $ 493, % $ 319,116 $ 210, % $ 254, % Source: Fraser Valley Real Estate Board MLS Summary Page 1 of 3

4 White Rock / South Surrey Apl-18 Apl-17 % change Mar-18 % change Apl-18 Apl-17 % change Mar-18 % change Apl-18 Apl-17 % change Mar-18 % change Sales % % % % % % New Listings % % % % % % Active Listings % % % % % % Benchmark Price $ 1,480,700 $ 1,447, % $ 1,490, % $ 691,700 $ 604, % $ 678, % $ 525,100 $ 405, % $ 524, % Median Price $ 1,372,500 $ 1,325, % $ 1,357, % $ 771,925 $ 615, % $ 710, % $ 494,950 $ 407, % $ 465, % Average Price $ 1,549,894 $ 1,491, % $ 1,489, % $ 782,875 $ 655, % $ 748, % $ 536,133 $ 435, % $ 536, % Langley Apl-18 Apl-17 % change Mar-18 % change Apl-18 Apl-17 % change Mar-18 % change Apl-18 Apl-17 % change Mar-18 % change Sales % % % % % % New Listings % % % % % % Active Listings % % % % % % Benchmark Price $ 1,047,300 $ 898, % $ 1,026, % $ 524,400 $ 438, % $ 514, % $ 453,000 $ 311, % $ 444, % Median Price $ 1,100,000 $ 899, % $ 1,012, % $ 597,000 $ 521, % $ 605, % $ 415,900 $ 295, % $ 410, % Average Price $ 1,199,779 $ 946, % $ 1,088, % $ 620,496 $ 535, % $ 603, % $ 446,103 $ 310, % $ 409, % Delta - North Apl-18 Apl-17 % change Mar-18 % change Apl-18 Apl-17 % change Mar-18 % change Apl-18 Apl-17 % change Mar-18 % change Sales % % % % % % New Listings % % % 12-8% % % Active Listings % % % % % % Benchmark Price $ 944,800 $ 844, % $ 950, % $ 604,800 $ 509, % $ 591, % $ 424,500 $ 292, % $ 425, % Median Price $ 935,000 $ 874, % $ 963, % $ 634,000 $ 624, % $ 720, % $ 402,250 $ 268, % $ 411, % Average Price $ 986,958 $ 930, % $ 1,044, % $ 636,567 $ 589, % $ 701, % $ 396,544 $ 262, % $ 415, % Source: Fraser Valley Real Estate Board MLS Summary Page 2 of 3

5 City of Surrey - Combined* Apl-18 Apl-17 % change Mar-18 % change Apl-18 Apl-17 % change Mar-18 % change Apl-18 Apl-17 % change Mar-18 % change Sales % % % % % % Benchmark Price $ 1,117,500 $ 998, % $ 1,112, % $ 599,200 $ 484, % $ 591, % $ 466,100 $ 319, % $ 459, % Average Price $ 1,184,528 $ 1,045, % $ 1,172, % $ 649,224 $ 526, % $ 638, % $ 427,986 $ 311, % $ 408, % *North Surrey, Central Surrey, Cloverdale and South Surrey, excl. White Rock Surrey - Central Apl-18 Apl-17 % change Mar-18 % change Apl-18 Apl-17 % change Mar-18 % change Apl-18 Apl-17 % change Mar-18 % change Sales % % % % % % New Listings % % % % % % Active Listings % % % % % % Benchmark Price $ 1,040,900 $ 906, % $ 1,031, % $ 584,900 $ 468, % $ 577, % $ 456,200 $ 305, % $ 452, % Median Price $ 1,083,000 $ 958, % $ 1,051, % $ 601,000 $ 500, % $ 610, % $ 408,050 $ 265, % $ 407, % Average Price $ 1,140,556 $ 997, % $ 1,109, % $ 614,961 $ 500, % $ 608, % $ 400,984 $ 273, % $ 397, % Surrey - Cloverdale Apl-18 Apl-17 % change Mar-18 % change Apl-18 Apl-17 % change Mar-18 % change Apl-18 Apl-17 % change Mar-18 % change Sales % % % % % % New Listings % % % % % % Active Listings % % % % % % Benchmark Price $ 1,046,500 $ 902, % $ 1,045, % $ 614,900 $ 482, % $ 607, % $ 509,000 $ 350, % $ 507, % Median Price $ 995,000 $ 900, % $ 980, % $ 581,500 $ 495, % $ 595, % $ 435,000 $ 300, % $ 396, % Average Price $ 1,042,315 $ 942, % $ 1,037, % $ 610,379 $ 493, % $ 595, % $ 442,390 $ 315, % $ 392, % Surrey - North Apl-18 Apl-17 % change Mar-18 % change Apl-18 Apl-17 % change Mar-18 % change Apl-18 Apl-17 % change Mar-18 % change Sales % % % % % % New Listings % % % % % % Active Listings % % % % % % Benchmark Price $ 987,500 $ 841, % $ 980, % $ 577,000 $ 438, % $ 573, % $ 432,600 $ 291, % $ 424, % Median Price $ 992,000 $ 788, % $ 954, % $ 540,000 $ 415, % $ 590, % $ 399,800 $ 287, % $ 390, % Average Price $ 1,046,466 $ 844, % $ 1,039, % $ 547,625 $ 433, % $ 557, % $ 408,451 $ 296, % $ 401, % Source: Fraser Valley Real Estate Board MLS Summary Page 3 of 3

6 MLS Home Price Index - Fraser Valley April 2018 BENCHMARK INDEX ONE MONTH THREE MONTH SIX MONTH ONE YEAR THREE YEAR FIVE YEAR TEN YEAR PRICE (HPI) % CHANGE % CHANGE % CHANGE % CHANGE % CHANGE % CHANGE % CHANGE RESIDENTIAL LOWER MAINLAND 1,000, COMBINED FRASER VALLEY BOARD 822, NORTH DELTA 948, NORTH SURREY 795, SURREY 867, CLOVERDALE 916, SOUTH SURREY & WHITE ROCK 1,034, LANGLEY 812, ABBOTSFORD 635, MISSION 652, DETACHED LOWER MAINLAND 1,339, FRASER VALLEY BOARD 1,009, NORTH DELTA 944, NORTH SURREY 987, SURREY 1,040, CLOVERDALE 1,046, SOUTH SURREY & WHITE ROCK 1,480, LANGLEY 1,047, ABBOTSFORD 825, MISSION 686, TOWNHOUSE LOWER MAINLAND 721, FRASER VALLEY BOARD 549, NORTH DELTA 604, NORTH SURREY 577, SURREY 584, CLOVERDALE 614, SOUTH SURREY & WHITE ROCK 691, LANGLEY 524, ABBOTSFORD 390, MISSION 449, APARTMENT LOWER MAINLAND 664, FRASER VALLEY BOARD 447, NORTH DELTA 424, NORTH SURREY 432, SURREY 456, CLOVERDALE 509, SOUTH SURREY & WHITE ROCK 525, LANGLEY 453, ABBOTSFORD 346, MISSION 346, 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 30 Sellers Market 20 Balanced Market 10 Buyers Market April: 30% According to BCREA, a balanced market in the Lower Mainland ranges between 12% - 20% This graph includes all Residential and Commercial property types Fraser Valley Real Estate Board

9 MLS Home Price Index, Fraser Valley

10 MLS Home Price Index Benchmark Prices, Fraser Valley $1,100,000 $1,000,000 $900,000 $800,000 $700,000 $600,000 $500,000 $400,000 $300,000 $200,000 $100,

11 $1,200,000 $1,000,000 $800,000 $600,000 $400,000 $200,000 $0 Average Price, Residential Detached, all Fraser Valley

12 Annual Sales, New Listings, Average Price All Property Types, Fraser Valley Sales New Listings Average Price 40,000 $800,000 35,000 $700,000 30,000 $600,000 25,000 $500,000 20,000 $400,000 15,000 $300,000 10,000 $200,000 5,000 $100,000 $ Fraser Valley Real Estate Board