Fraser Valley Real Estate Board. Monthly Statistics Package

Transcription

1 Fraser Valley Real Estate Board Monthly Statistics Package December 2016

2 News Release For Immediate Release: January 4, 2017 Record-setting year for Fraser Valley real estate SURREY, BC Fraser Valley real estate experienced the strongest year in its history in 2016, with record-setting numbers seen in both total MLS transactions and overall dollar volume sold. The Board s Multiple Listing Service (MLS ) processed 23,974 sales in 2016, 13.6 per cent more than the 21,095 sales in 2015, and 12.6 per cent more than the previous record of 21,282 sales in The total dollar volume of MLS sales was a record setting $16.2 billion, four billion more than the previous record set in Of the total transactions for the year, 5,369 were townhouses sold and 5,069 were apartments, the highest each category has reached in the Board s history. Charles Wiebe, President of the Fraser Valley Real Estate Board, attributes this year's extraordinary market activity to a strong provincial economy and the diverse inventory available to consumers entering the Valley. "Our region boasts a vast range of homes available at all price points, which made it a very enticing option for buyers of all types last year." For inventory, a total of 34,768 new listings were received by the Board s MLS system during 2016, the second highest in the Board s history and only 883 behind the 35,651 received in In December the Board processed 966 sales, a decrease of 37.4 per cent compared to December of 2015, but level with the ten-year average for the month. December s total inventory in the Fraser Valley was 3,930 active listings; 29.8 per cent fewer than were available in November 2016 and 8 per cent fewer than December Wiebe adds, The Fraser Valley market was consistently strong throughout 2016, and at times tremendously active. However, at year s end, we see sales returning to more typical levels and low overall inventory. Moving into 2017 and the spring market, would-be sellers are in a great position to take advantage of strong pricing and, depending on the area, a limited selection for buyers. Talk to a REALTOR who can help you kick-off the New Year with incredible opportunity. HPI Benchmark Price Activity Single Family : At $856,700, the Benchmark price for a single family detached home in the Valley decreased 0.5 per cent compared to November 2016, and increased 27.4 per cent compared to December Townhomes: At $416,600, the Benchmark price for a townhouse in the Valley decreased 1.8 per cent compared to November 2016, and increased 29.5 per cent compared to December s: At $259,000, the Benchmark price for an apartment in the Valley increased 0.2 per cent compared to November 2016, and increased 26.4 per cent compared to December The Fraser Valley Real Estate Board is an association of 3,273 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 December 2016 All Property Types All Property Types Grand Totals Dec-16 Dec-15 % change Nov-16 % change Grand Totals - year to date % change Sales 966 1, % 1, % Sales - year to date 23,974 21, % New Listings 829 1, % 1, % New Listings - year to date 34,768 30, % Active Listings 3,930 4, % 5, % Average Price $ 658,313 $ 627, % $ 615, % All Areas Combined Dec-16 Dec-15 % change Nov-16 % change Dec-16 Dec-15 % change Nov-16 % change Dec-16 Dec-15 % change Nov-16 % change Sales % % % % % % New Listings % % % % % % Active Listings 1,628 1, % 2, % % % % % Benchmark Price $ 856,700 $ 672, % $ 860, % $ 416,600 $ 321, % $ 424, % $ 259,000 $ 204, % $ 258, % Median Price $ 795,238 $ 702, % $ 785, % $ 461,750 $ 354, % $ 462, % $ 240,800 $ 210, % $ 249, % Average Price $ 914,763 $ 804, % $ 904, % $ 471,086 $ 372, % $ 469, % $ 260,139 $ 224, % $ 270, % Abbotsford Dec-16 Dec-15 % change Nov-16 % change Dec-16 Dec-15 % change Nov-16 % change Dec-16 Dec-15 % change Nov-16 % change Sales % % % % % % New Listings % % % % % % Active Listings % % % % % % Benchmark Price $ 666,500 $ 494, % $ 663, % $ 295,000 $ 229, % $ 304, % $ 213,700 $ 154, % $ 209, % Median Price $ 649,900 $ 485, % $ 643, % $ 378,000 $ 299, % $ 375, % $ 200,750 $ 150, % $ 190, % Average Price $ 670,677 $ 528, % $ 675, % $ 393,951 $ 298, % $ 362, % $ 198,765 $ 160, % $ 198, % Mission Dec-16 Dec-15 % change Nov-16 % change Dec-16 Dec-15 % change Nov-16 % change Dec-16 Dec-15 % change Nov-16 % change Sales % % % % % % New Listings % % % % % % Active Listings % % % % % % Benchmark Price $ 544,200 $ 415, % $ 544, % $ 336,500 $ 242, % $ 338, % $ 218,900 $ 177, % $ 218, % Median Price $ 550,250 $ 467, % $ 532, % $ 383,925 $ 250, % $ 330, % $ 148,500 $ 175, % $ 214, % Average Price $ 536,918 $ 478, % $ 531, % $ 359,712 $ 287, % $ 315, % $ 148,500 $ 194, % $ 203, % Source: Fraser Valley Real Estate Board MLS Summary Page 1 of 3

4 White Rock / South Surrey Dec-16 Dec-15 % change Nov-16 % change Dec-16 Dec-15 % change Nov-16 % change Dec-16 Dec-15 % change Nov-16 % change Sales % % % % % % New Listings % % % % % % Active Listings % % % % % % Benchmark Price $ 1,430,200 $ 1,102, % $ 1,433, % $ 573,300 $ 449, % $ 584, % $ 343,400 $ 267, % $ 357, % Median Price $ 1,380,952 $ 1,235, % $ 1,390, % $ 575,000 $ 497, % $ 556, % $ 365,750 $ 297, % $ 364, % Average Price $ 1,563,707 $ 1,365, % $ 1,648, % $ 623,378 $ 548, % $ 612, % $ 369,250 $ 330, % $ 385, % Langley Dec-16 Dec-15 % change Nov-16 % change Dec-16 Dec-15 % change Nov-16 % change Dec-16 Dec-15 % change Nov-16 % change Sales % % % % % % New Listings % % % % % % Active Listings % % % % % % Benchmark Price $ 865,200 $ 677, % $ 871, % $ 427,500 $ 332, % $ 437, % $ 274,800 $ 213, % $ 265, % Median Price $ 812,450 $ 715, % $ 785, % $ 489,900 $ 361, % $ 471, % $ 270,000 $ 225, % $ 246, % Average Price $ 873,024 $ 779, % $ 813, % $ 477,420 $ 358, % $ 489, % $ 267,593 $ 224, % $ 281, % Delta - North Dec-16 Dec-15 % change Nov-16 % change Dec-16 Dec-15 % change Nov-16 % change Dec-16 Dec-15 % change Nov-16 % change Sales % % % 5 0.0% % % New Listings % % % 9-67% % % Active Listings % % % % % % Benchmark Price $ 833,300 $ 703, % $ 832, % $ 477,700 $ 349, % $ 495, % $ 196,700 $ 166, % $ 194, % Median Price $ 813,000 $ 725, % $ 822, % $ 602,000 $ 595, % $ 410, % $ 182,450 $ 193, % $ 419, % Average Price $ 907,541 $ 771, % $ 898, % $ 596,660 $ 539, % $ 501, % $ 247,733 $ 169, % $ 417, % Source: Fraser Valley Real Estate Board MLS Summary Page 2 of 3

5 City of Surrey - Combined* Dec-16 Dec-15 % change Nov-16 % change Dec-16 Dec-15 % change Nov-16 % change Dec-16 Dec-15 % change Nov-16 % change Sales % % % % % % Benchmark Price $ 965,200 $ 760, % $ 973, % $ 442,100 $ 340, % $ 448, % $ 259,200 $ 214, % $ 260, % Average Price $ 1,016,717 $ 886, % $ 1,047, % $ 483,443 $ 392, % $ 480, % $ 268,433 $ 231, % $ 275, % *North Surrey, Central Surrey, Cloverdale and South Surrey, excl. White Rock Surrey - Central Dec-16 Dec-15 % change Nov-16 % change Dec-16 Dec-15 % change Nov-16 % change Dec-16 Dec-15 % change Nov-16 % change Sales % % % % % % New Listings % % % % % % Active Listings % % % % % % Benchmark Price $ 862,800 $ 676, % $ 868, % $ 432,100 $ 327, % $ 436, % $ 237,400 $ 204, % $ 237, % Median Price $ 897,000 $ 720, % $ 830, % $ 444,500 $ 352, % $ 435, % $ 221,150 $ 195, % $ 210, % Average Price $ 939,293 $ 748, % $ 888, % $ 439,493 $ 363, % $ 439, % $ 223,973 $ 204, % $ 220, % Surrey - Cloverdale Dec-16 Dec-15 % change Nov-16 % change Dec-16 Dec-15 % change Nov-16 % change Dec-16 Dec-15 % change Nov-16 % change Sales % % % % % % New Listings % % % % % % Active Listings % % % % % % Benchmark Price $ 860,400 $ 690, % $ 877, % $ 451,100 $ 353, % $ 465, % $ 309,800 $ 248, % $ 312, % Median Price $ 815,000 $ 662, % $ 826, % $ 456,800 $ 347, % $ 429, % $ 294,000 $ 199, % $ 294, % Average Price $ 856,767 $ 702, % $ 878, % $ 452,617 $ 346, % $ 447, % $ 289,580 $ 239, % $ 285, % Surrey - North Dec-16 Dec-15 % change Nov-16 % change Dec-16 Dec-15 % change Nov-16 % change Dec-16 Dec-15 % change Nov-16 % change Sales % % % % % % New Listings % % % % % % Active Listings % % % % % % Benchmark Price $ 826,400 $ 670, % $ 836, % $ 342,500 $ 263, % $ 336, % $ 237,300 $ 200, % $ 237, % Median Price $ 760,000 $ 690, % $ 723, % $ 330,000 $ 315, % $ 374, % $ 231,500 $ 209, % $ 254, % Average Price $ 821,293 $ 741, % $ 804, % $ 343,027 $ 306, % $ 376, % $ 240,154 $ 208, % $ 247, % Source: Fraser Valley Real Estate Board MLS Summary Page 3 of 3

6 MLS 5-year summary - Fraser Valley Year-end 2016 All Sales Grand Totals % change 2013 % change 2011 % change Sales 23,974 21, % 13, % 15, % New Listings 34,768 30, % 29, % 31, % Number of FVREB members 3,273 2, % 2, % 2, % All areas combined % change 2013 % change 2011 % change Sales 10,916 11, % 6, % 8, % New Listings 16,883 14, % 13, % 14, % Median Price $ 810,000 $ 639, % $ 548, % $ 542, % Average Price $ 918,851 $ 720, % $ 615, % $ 610, % Abbotsford % change 2013 % change 2011 % change Sales 1,906 1, % % % New Listings 2,568 1, % 1, % 2, % Median Price $ 610,000 $ 465, % $ 418, % $ 424, % Average Price $ 637,758 $ 495, % $ 452, % $ 447, % Mission % change 2013 % change 2011 % change Sales % % % New Listings 1, % % 1, % Median Price $ 515,000 $ 409, % $ 355, % $ 360, % Average Price $ 528,662 $ 414, % $ 361, % $ 370, % Source: Fraser Valley Real Estate Board Year-end MLS Summary Page 1 of 6

7 MLS 5-year summary - Fraser Valley Year-end 2016 White Rock % change 2013 % change 2011 % change Sales 1,586 1, % 1, % 1, % New Listings 2,799 2, % 2, % 2, % Median Price $ 1,399,950 $ 1,035, % $ 820, % $ 820, % Average Price $ 1,591,544 $ 1,211, % $ 1,019, % $ 953, % Langley % change 2013 % change 2011 % change Sales 1,790 1, % 1, % 1, % New Listings 2,352 1, % 1, % 2, % Median Price $ 845,000 $ 650, % $ 560, % $ 540, % Average Price $ 904,039 $ 688, % $ 589, % $ 565, % Delta - North % change 2013 % change 2011 % change Sales % % % New Listings 1, % % % Median Price $ 862,750 $ 638, % $ 529, % $ 507, % Average Price $ 920,056 $ 679, % $ 563, % $ 546, % Source: Fraser Valley Real Estate Board Year-end MLS Summary Page 2 of 6

8 MLS 5-year summary - Fraser Valley Year-end 2016 City of Surrey - Combined* % change 2013 % change 2011 % change Sales 5,233 5, % 3, % 4, % Average Price $ 1,047,400 $ 800, % $ 692, % $ 670, % *North Surrey, Central Surrey, Cloverdale and South Surrey, excl. White Rock Surrey - Central % change 2013 % change 2011 % change Sales 2,016 2, % 1, % 1, % New Listings 3,500 3, % 3, % 3, % Median Price $ 850,000 $ 649, % $ 574, % $ 542, % Average Price $ 902,653 $ 680, % $ 589, % $ 566, % Surrey - Cloverdale % change 2013 % change 2011 % change Sales % % % New Listings 1,308 1, % 1, % 1, % Median Price $ 825,000 $ 647, % $ 551, % $ 545, % Average Price $ 871,610 $ 669, % $ 569, % $ 564, % Surrey - North % change 2013 % change 2011 % change Sales 1,058 1, % % % New Listings 1,971 1, % 1, % 1, % Median Price $ 790,500 $ 588, % $ 505, % $ 485, % Average Price $ 858,851 $ 658, % $ 565, % $ 542, % Source: Fraser Valley Real Estate Board Year-end MLS Summary Page 3 of 6

9 MLS 5-year summary - Fraser Valley Year-end 2016 All Sales Grand Totals % change 2013 % change 2011 % change Sales 23,974 21, % 13, % 15, % New Listings 34,768 30, % 29, % 31, % Number of FVREB members 3,273 2, % 2, % 2, % All areas combined % change 2013 % change 2011 % change % change 2013 % change 2011 % change Sales 5,369 4, % 2, % 2, % 5,069 3, % 2, % 2, % New Listings 6,313 5, % 5, % 5, % 5,980 5, % 5, % 5, % Median Price $ 422,000 $ 344, % $ 324, % $ 329, % $ 240,000 $ 210, % $ 200, % $ 212, % Average Price $ 440,223 $ 362, % $ 337, % $ 345, % $ 263,259 $ 232, % $ 219, % $ 225, % Abbotsford % change 2013 % change 2011 % change % change 2013 % change 2011 % change Sales % % % % % % New Listings % % % 1, % % % Median Price $ 350,000 $ 284, % $ 261, % $ 270, % $ 180,000 $ 150, % $ 150, % $ 171, % Average Price $ 284,339 $ 284, % $ 264, % $ 273, % $ 188,993 $ 158, % $ 162, % $ 173, % Mission % change 2013 % change 2011 % change % change 2013 % change 2011 % change Sales % % % % % % New Listings % % % % % % Median Price $ 320,633 $ 229, % $ 219, % $ 229, % $ 190,000 $ 175, % $ 150, % $ 165, % Average Price $ 304,798 $ 233, % $ 213, % $ 227, % $ 187,711 $ 186, % $ 162, % $ 176, % Source: Fraser Valley Real Estate Board Year-end MLS Summary Page 4 of 6

10 MLS 5-year summary - Fraser Valley Year-end 2016 White Rock % change 2013 % change 2011 % change % change 2013 % change 2011 % change Sales % % % 1, % % % New Listings 1, % % % 1,231 1, % 1, % 1, % Median Price $ 549,900 $ 470, % $ 420, % $ 445, % $ 334,102 $ 290, % $ 271, % $ 270, % Average Price $ 598,556 $ 511, % $ 464, % $ 498, % $ 368,772 $ 330, % $ 308, % $ 304, % Langley % change 2013 % change 2011 % change % change 2013 % change 2011 % change Sales 1, % % % % % % New Listings 1,263 1, % 1, % 1, % 1, % % % Median Price $ 435,000 $ 331, % $ 317, % $ 320, % $ 238,750 $ 207, % $ 202, % $ 218, % Average Price $ 444,693 $ 342, % $ 321, % $ 328, % $ 254,465 $ 218, % $ 205, % $ 222, % Delta - North % change 2013 % change 2011 % change % change 2013 % change 2011 % change Sales % % % % % % New Listings % % % % % % Median Price $ 561,000 $ 444, % $ 470, % $ 399, % $ 347,150 $ 220, % $ 193, % $ 219, % Average Price $ 535,237 $ 451, % $ 472, % $ 390, % $ 322,965 $ 201, % $ 175, % $ 205, % Source: Fraser Valley Real Estate Board Year-end MLS Summary Page 5 of 6

11 MLS 5-year summary - Fraser Valley Year-end 2016 City of Surrey - Combined* % change 2013 % change 2011 % change % change 2013 % change 2011 % change Sales 3,319 2, % 1, % 1, % 2,535 1, % 1, % 1, % Average Price $ 455,826 $ 382, % $ 353, % $ 365, % $ 266,377 $ 237, % $ 225, % $ 229, % *North Surrey, Central Surrey, Cloverdale and South Surrey, excl. White Rock Surrey - Central % change 2013 % change 2011 % change % change 2013 % change 2011 % change Sales 1,401 1, % % % % % % New Listings 1,717 1, % 1, % 1, % % % % Median Price $ 418,000 $ 336, % $ 323, % $ 331, % $ 221,900 $ 203, % $ 195, % $ 207, % Average Price $ 418,258 $ 341, % $ 322, % $ 332, % $ 225,771 $ 203, % $ 198, % $ 210, % Surrey - Cloverdale % change 2013 % change 2011 % change % change 2013 % change 2011 % change Sales % % % % % % New Listings % % % % % % Median Price $ 420,000 $ 338, % $ 319, % $ 329, % $ 260,000 $ 220, % $ 215, % $ 229, % Average Price $ 429,437 $ 345, % $ 331, % $ 337, % $ 284,489 $ 252, % $ 226, % $ 249, % Surrey - North % change 2013 % change 2011 % change % change 2013 % change 2011 % change Sales % % % 1, % % % New Listings % % % 1,441 1, % 1, % 1, % Median Price $ 339,000 $ 291, % $ 285, % $ 276, % $ 233,000 $ 200, % $ 197, % $ 207, % Average Price $ 350,041 $ 290, % $ 285, % $ 276, % $ 240,310 $ 207, % $ 206, % $ 209, % Source: Fraser Valley Real Estate Board Year-end MLS Summary Page 6 of 6

12 MLS Home Price Index - Fraser Valley December 2016 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 803, COMBINED FRASER VALLEY BOARD 628, NORTH DELTA 759, NORTH SURREY 521, SURREY 660, CLOVERDALE 685, SOUTH SURREY & WHITE ROCK 918, LANGLEY 628, ABBOTSFORD 473, MISSION 510, DETACHED LOWER MAINLAND 1,198, FRASER VALLEY BOARD 856, NORTH DELTA 833, NORTH SURREY 826, SURREY 862, CLOVERDALE 860, SOUTH SURREY & WHITE ROCK 1,430, LANGLEY 865, ABBOTSFORD 666, MISSION 544, TOWNHOUSE LOWER MAINLAND 553, FRASER VALLEY BOARD 416, NORTH DELTA 477, NORTH SURREY 342, SURREY 432, CLOVERDALE 451, SOUTH SURREY & WHITE ROCK 573, LANGLEY 427, ABBOTSFORD 295, MISSION 336, APARTMENT LOWER MAINLAND 461, FRASER VALLEY BOARD 259, NORTH DELTA 196, NORTH SURREY 237, SURREY 237, CLOVERDALE 309, SOUTH SURREY & WHITE ROCK 343, LANGLEY 274, ABBOTSFORD 213, MISSION 218, 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 Sellers Market 40 Ratio Balanced Market 10 Buyers Market December: 25% 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

15 MLS Home Price Index, Fraser Valley

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

17 $1,000,000 $900,000 $800,000 $700,000 $600,000 $500,000 $400,000 $300,000 $200,000 $100,000 $0 Average Price,Residential, all Fraser Valley

18 Annual Sales, New Listings, Average Price AllProperty Types, FraserValley 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 $