Fraser Valley Real Estate Board. Monthly Statistics Package

Transcription

1 Fraser Valley Real Estate Board Monthly Statistics Package January 2018

2 News Release Fraser Valley Real Estate Board For Immediate Release: February 2, brings more of the same for Fraser Valley real estate SURREY, BC Fraser Valley housing market activity in January continued on the momentum seen throughout 2017 with year-over-year increases seen for both sales and pricing. The Fraser Valley Real Estate Board processed 1,210 sales of all property types on its Multiple Listing Service (MLS ) in January, an increase of 24 per cent compared to the 976 sales in January of last year, and a 10 per cent decrease compared to the 1,344 sales in December This was the third highest sales total for a January in the Board s history, behind only 2016 (1,338) and 1992 (1,270). Of the 1,210 sales processed last month 281 were townhouses and 338 were apartments, together representing 51 per cent of all transactions in January. This will be the third consecutive year of heightened market activity for our region, and we re starting 2018 exactly where we left off gradually rising prices, tight inventory, and the dominance of attached home sales," said Gopal Sahota, Board President. Active inventory for the Fraser Valley finished at 3,962 listings last month, increasing 3.8 per cent month-over-month, and decreasing 10 per cent when compared to January January s sales-to-active listing ratio was 31 per cent. The Board received 2,092 new listings in January, a 63.8 per cent increase from December 2017 s 1,277 new listings, and a 3.9 per cent decrease compared to January "Generally, pricing continues to be heavily impacted by ongoing demand and a lack of incoming inventory, continued Sahota. While conditions may differ depending on property type and area, it remains a complex real estate environment overall where a thorough understanding of the market and knowing what you re looking for can make all the difference. For the Fraser Valley region the average number of days to sell an apartment in January was 19, and 24 for townhomes. Single family detached homes remained on the market for an average of 46 days before selling. HPI Benchmark Price Activity Single Family Detached: At $982,700, the Benchmark price for a single family detached home in the Valley increased 0.6 per cent compared to December 2017, and increased 15.1 per cent compared to January Townhomes: At $519,400 the Benchmark price for a townhome in the Fraser Valley increased 1.2 per cent compared to December 2017, and increased 23.4 per cent compared to January Apartments: At $404,100, the Benchmark price for apartments/condos in the Fraser Valley increased 4 per cent compared to December 2017, and increased 44.1 per cent compared to January The Fraser Valley Real Estate Board is an association of 3,524 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 January 2018 All Property Types All Property Types Grand Totals Jan-18 Jan-17 % change Dec-17 % change Grand Totals - year to date % change Sales 1, % 1, % Sales - year to date 1, % New Listings 2,092 2, % 1, % New Listings - year to date 2,092 2, % Active Listings 3,962 4, % 3, % Average Price $ 723,650 $ 626, % $ 745, % All Areas Combined Jan-18 Jan-17 % change Dec-17 % change Jan-18 Jan-17 % change Dec-17 % change Jan-18 Jan-17 % change Dec-17 % change Sales % % % % % % New Listings % % % % % % Active Listings 1,739 1, % 1, % % % % % Benchmark Price $ 982,700 $ 854, % $ 976, % $ 519,400 $ 421, % $ 513, % $ 404,100 $ 280, % $ 388, % Median Price $ 942,500 $ 790, % $ 925, % $ 569,900 $ 461, % $ 570, % $ 370,150 $ 255, % $ 365, % Average Price $ 1,028,781 $ 890, % $ 1,018, % $ 563,434 $ 477, % $ 577, % $ 388,636 $ 295, % $ 374, % Abbotsford Jan-18 Jan-17 % change Dec-17 % change Jan-18 Jan-17 % change Dec-17 % change Jan-18 Jan-17 % change Dec-17 % change Sales % % % % % % New Listings % % % % % % Active Listings % % % % % % Benchmark Price $ 786,400 $ 666, % $ 792, % $ 361,800 $ 298, % $ 356, % $ 300,100 $ 218, % $ 286, % Median Price $ 720,000 $ 619, % $ 771, % $ 385,500 $ 320, % $ 460, % $ 287,500 $ 191, % $ 274, % Average Price $ 760,352 $ 644, % $ 819, % $ 402,524 $ 340, % $ 448, % $ 291,318 $ 197, % $ 286, % Mission Jan-18 Jan-17 % change Dec-17 % change Jan-18 Jan-17 % change Dec-17 % change Jan-18 Jan-17 % change Dec-17 % change Sales % % % % % % New Listings % % % % % % Active Listings % % % % % 3 0.0% Benchmark Price $ 645,900 $ 545, % $ 640, % $ 432,000 $ 340, % $ 416, % $ 307,500 $ 231, % $ 301, % Median Price $ 685,000 $ 625, % $ 621, % $ 451,000 $ 200, % $ 490, % $ 117,500 $ 215, % $ 274, % Average Price $ 687,280 $ 619, % $ 649, % $ 466,180 $ 246, % $ 481, % $ 117,500 $ 198, % $ 257, % Source: Fraser Valley Real Estate Board MLS Summary Page 1 of 3

4 White Rock / South Surrey Jan-18 Jan-17 % change Dec-17 % change Jan-18 Jan-17 % change Dec-17 % change Jan-18 Jan-17 % change Dec-17 % change Sales % % % % % % New Listings % % % % % % Active Listings % % % % % % Benchmark Price $ 1,470,800 $ 1,395, % $ 1,472, % $ 644,200 $ 576, % $ 647, % $ 507,400 $ 379, % $ 493, % Median Price $ 1,245,000 $ 1,409, % $ 1,400, % $ 689,500 $ 615, % $ 655, % $ 460,000 $ 377, % $ 417, % Average Price $ 1,418,861 $ 1,490, % $ 1,662, % $ 708,800 $ 657, % $ 679, % $ 495,812 $ 423, % $ 453, % Langley Jan-18 Jan-17 % change Dec-17 % change Jan-18 Jan-17 % change Dec-17 % change Jan-18 Jan-17 % change Dec-17 % change Sales % % % % % % New Listings % % % % % % Active Listings % % % % % % Benchmark Price $ 1,024,600 $ 866, % $ 1,002, % $ 499,200 $ 404, % $ 490, % $ 406,800 $ 287, % $ 396, % Median Price $ 980,000 $ 799, % $ 946, % $ 569,950 $ 477, % $ 585, % $ 361,000 $ 251, % $ 373, % Average Price $ 1,130,779 $ 848, % $ 1,017, % $ 570,086 $ 480, % $ 578, % $ 378,035 $ 281, % $ 394, % Delta - North Jan-18 Jan-17 % change Dec-17 % change Jan-18 Jan-17 % change Dec-17 % change Jan-18 Jan-17 % change Dec-17 % change Sales % % % % % % New Listings % % % 3 200% % % Active Listings % % % % % % Benchmark Price $ 941,000 $ 828, % $ 921, % $ 561,400 $ 474, % $ 561, % $ 375,000 $ 254, % $ 361, % Median Price $ 929,950 $ 941, % $ 964, % $ 809,000 $ 655, % $ 766, % $ 463,047 $ 324, % $ 400, % Average Price $ 1,011,814 $ 1,006, % $ 995, % $ 805,750 $ 655, % $ 746, % $ 481,110 $ 377, % $ 404, % Source: Fraser Valley Real Estate Board MLS Summary Page 2 of 3

5 City of Surrey - Combined* Jan-18 Jan-17 % change Dec-17 % change Jan-18 Jan-17 % change Dec-17 % change Jan-18 Jan-17 % change Dec-17 % change Sales % % % % % % Benchmark Price $ 1,094,300 $ 958, % $ 1,089, % $ 566,200 $ 457, % $ 560, % $ 423,500 $ 288, % $ 406, % Average Price $ 1,112,617 $ 958, % $ 1,111, % $ 587,095 $ 504, % $ 592, % $ 397,159 $ 301, % $ 387, % *North Surrey, Central Surrey, Cloverdale and South Surrey, excl. White Rock Surrey - Central Jan-18 Jan-17 % change Dec-17 % change Jan-18 Jan-17 % change Dec-17 % change Jan-18 Jan-17 % change Dec-17 % change Sales % % % % % % New Listings % % % % % % Active Listings % % % % % % Benchmark Price $ 1,013,500 $ 866, % $ 1,014, % $ 557,100 $ 436, % $ 549, % $ 402,000 $ 265, % $ 382, % Median Price $ 990,000 $ 825, % $ 984, % $ 571,500 $ 451, % $ 563, % $ 384,500 $ 242, % $ 364, % Average Price $ 1,046,690 $ 894, % $ 1,031, % $ 563,887 $ 464, % $ 576, % $ 388,417 $ 253, % $ 366, % Surrey - Cloverdale Jan-18 Jan-17 % change Dec-17 % change Jan-18 Jan-17 % change Dec-17 % change Jan-18 Jan-17 % change Dec-17 % change Sales % % % % % % New Listings % % % % % % Active Listings % % % % % % Benchmark Price $ 1,014,400 $ 859, % $ 1,004, % $ 578,700 $ 456, % $ 572, % $ 469,300 $ 311, % $ 448, % Median Price $ 1,034,444 $ 830, % $ 900, % $ 570,000 $ 435, % $ 553, % $ 463,000 $ 267, % $ 365, % Average Price $ 1,075,164 $ 849, % $ 940, % $ 569,624 $ 438, % $ 560, % $ 464,000 $ 312, % $ 377, % Surrey - North Jan-18 Jan-17 % change Dec-17 % change Jan-18 Jan-17 % change Dec-17 % change Jan-18 Jan-17 % change Dec-17 % change Sales % % % % % % New Listings % % % % % % Active Listings % % % % % % Benchmark Price $ 966,200 $ 821, % $ 950, % $ 543,400 $ 425, % $ 533, % $ 391,600 $ 263, % $ 375, % Median Price $ 896,250 $ 725, % $ 875, % $ 514,500 $ 357, % $ 458, % $ 360,500 $ 269, % $ 389, % Average Price $ 987,824 $ 825, % $ 979, % $ 498,162 $ 360, % $ 489, % $ 372,255 $ 274, % $ 385, % Source: Fraser Valley Real Estate Board MLS Summary Page 3 of 3

6 MLS Home Price Index - Fraser Valley January 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 961, COMBINED FRASER VALLEY BOARD 778, NORTH DELTA 914, NORTH SURREY 739, SURREY 826, CLOVERDALE 870, SOUTH SURREY & WHITE ROCK 1,008, LANGLEY 772, ABBOTSFORD 584, MISSION 613, DETACHED LOWER MAINLAND 1,323, FRASER VALLEY BOARD 982, NORTH DELTA 941, NORTH SURREY 966, SURREY 1,013, CLOVERDALE 1,014, SOUTH SURREY & WHITE ROCK 1,470, LANGLEY 1,024, ABBOTSFORD 786, MISSION 645, TOWNHOUSE LOWER MAINLAND 680, FRASER VALLEY BOARD 519, NORTH DELTA 561, NORTH SURREY 543, SURREY 557, CLOVERDALE 578, SOUTH SURREY & WHITE ROCK 644, LANGLEY 499, ABBOTSFORD 361, MISSION 432, APARTMENT LOWER MAINLAND 622, FRASER VALLEY BOARD 404, NORTH DELTA 375, NORTH SURREY 391, SURREY 402, CLOVERDALE 469, SOUTH SURREY & WHITE ROCK 507, LANGLEY 406, ABBOTSFORD 300, MISSION 307, 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 January: 31% 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 $1,000,000 $900,000 $800,000 $700,000 $600,000 $500,000 $400,000 $300,000 $200,000 $100,000 $

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