Fraser Valley Real Estate Board. Monthly Statistics Package

Transcription

1 Fraser Valley Real Estate Board Monthly Statistics Package January 2012

2 News Release Fraser Valley Real Estate Board For Immediate Release: Feb. 6, kicks off with new home price measurement; and, a sluggish start to sales SURREY, BC The Fraser Valley Real Estate Board s Multiple Listing Service (MLS ) processed 799 sales in January, a decrease of 4 per cent compared to the 834 sales in January last year and 10 per cent fewer than were processed in December. In the last decade, January 2012 was second only to 2009 for lowest volume. On the flip side, compared to other starts during the last 10 years, the Board received one of its highest influxes of new listings for January 2,753 5 per cent more than January 2011 and 143 per cent more than December the month before. The increase in new inventory raised the volume of active properties in Fraser Valley to 8,320 by the end of January. Sukh Sidhu is the Board s president. For spring house hunters this is great news. For buying power you can t beat the combination of greater selection, the continuation of extremely low interest rates and stable prices. The Board s new MLS Home Price Index (MLS HPI), launched today, reveals that residential home prices in Fraser Valley have decreased gradually over the last six months, while still showing increases year over year. In January, the benchmark price of a detached home in the Fraser Valley was $564,800, an increase of 7.5 per cent compared to $525,300 in January 2011 and an increase of 0.1 per cent compared to December. For townhouses, the benchmark price in January was $311,800, an increase of 2.2 per cent compared to the same month last year when it was $305,200 and down 1.1 per cent compared to December. The benchmark price of apartments in January was $199,600, a decrease of 0.1 per cent compared to January 2011 when it was $199,800 and an increase of 0.3 per cent compared to December. The MLS Home Price Index (HPI), replacing the Lower Mainland s MLSLink Housing Price Index, is a new measure of price for residential properties in five major markets across Canada. It includes Greater Vancouver, Fraser Valley, Calgary, Toronto, and Montreal, with more markets to be added. It was pioneered by six founding partners: the real estate boards of Calgary, Fraser Valley, Greater Montreal, Greater Vancouver, and Greater Toronto and the Canadian Real Estate Association. Sukh Sidhu says the new MLS HPI will be very helpful to REALTORS in guiding homeowners. It s a bigger, better tool to measure the change in home prices in the Fraser Valley and now we can more accurately compare our market to other major cities in Canada. Learn more at 30 The Fraser Valley Real Estate Board is an association of 2,894 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, Communications Coordinator laurie.dawson@fvreb.bc.ca Fraser Valley Real Estate Board Telephone Fax

3 MLS Summary - Fraser Valley January 2012 All Property Types All Property Types Grand Totals Jan-12 Jan-11 % change Dec-11 % change Grand Totals - year to date % change Sales % % Sales - year to date % New Listings 2,753 2, % 1, % New Listings - year to date 2,753 2, % Active Listings 8,320 7, % 7, % Average Price $ 471,769 $ 440, % $ 506, % All Areas Combined Jan-12 Jan-11 % change Dec-11 % change Jan-12 Jan-11 % change Dec-11 % change Jan-12 Jan-11 % change Dec-11 % change Sales % % % % % % New Listings 1,257 1, % % % % % % Active Listings 3,285 3, % 2, % 1, % % 1,544 1, % 1, % Benchmark Price $ 564,800 $ 525, % $ 564, % $ 311,800 $ 305, % $ 315, % $ 199,600 $ 199, % $ 199, % Median Price $ 525,000 $ 529, % $ 520, % $ 325,000 $ 319, % $ 311, % $ 208,000 $ 203, % $ 209, % Average Price $ 568,891 $ 565, % $ 594, % $ 334,465 $ 328, % $ 316, % $ 211,628 $ 213, % $ 218, % Abbotsford Jan-12 Jan-11 % change Dec-11 % change Jan-12 Jan-11 % change Dec-11 % change Jan-12 Jan-11 % change Dec-11 % change Sales % % % % % % New Listings % % % % % % Active Listings % % % % % % Benchmark Price $ 417,800 $ 424, % $ 418, % $ 232,300 $ 243, % $ 236, % $ 163,000 $ 159, % $ 163, % Median Price $ 404,500 $ 408, % $ 399, % $ 248,000 $ 260, % $ 215, % $ 148,000 $ 167, % $ 155, % Average Price $ 423,191 $ 418, % $ 464, % $ 243,411 $ 283, % $ 240, % $ 137,977 $ 169, % $ 175, % Mission Jan-12 Jan-11 % change Dec-11 % change Jan-12 Jan-11 % change Dec-11 % change Jan-12 Jan-11 % change Dec-11 % change Sales % % % 2 0.0% New Listings % % % % % % Active Listings % % % % % % Benchmark Price $ 354,000 $ 364, % $ 358, % $ 226,600 $ 243, % $ 234, % $ 167,200 $ 182, % $ 170, % Median Price $ 330,000 $ 353, % $ 332, % $ - $ 197,000 - $ 141,000 - $ 111,500 $ 152, % $ 163, % Average Price $ 363,200 $ 348, % $ 364, % $ - $ 220,450 - $ 180,250 - $ 111,500 $ 168, % $ 171, % Source: Fraser Valley Real Estate Board MLS Summary Page 1 of 3

4 White Rock / South Surrey Jan-12 Jan-11 % change Dec-11 % change Jan-12 Jan-11 % change Dec-11 % change Jan-12 Jan-11 % change Dec-11 % change Sales % % % % % % New Listings % % % % % % Active Listings % % % % % % Benchmark Price $ 905,200 $ 767, % $ 908, % $ 450,200 $ 412, % $ 456, % $ 245,100 $ 249, % $ 251, % Median Price $ 789,000 $ 675, % $ 789, % $ 416,500 $ 405, % $ 385, % $ 248,004 $ 265, % $ 221, % Average Price $ 932,853 $ 795, % $ 944, % $ 476,470 $ 429, % $ 467, % $ 270,458 $ 285, % $ 231, % Langley Jan-12 Jan-11 % change Dec-11 % change Jan-12 Jan-11 % change Dec-11 % change Jan-12 Jan-11 % change Dec-11 % change Sales % % % % % % New Listings % % % % % % Active Listings % % % % % % Benchmark Price $ 537,000 $ 521, % $ 538, % $ 299,600 $ 293, % $ 303, % $ 205,800 $ 215, % $ 202, % Median Price $ 525,000 $ 540, % $ 520, % $ 309,000 $ 305, % $ 302, % $ 223,000 $ 225, % $ 216, % Average Price $ 547,008 $ 567, % $ 581, % $ 316,312 $ 309, % $ 298, % $ 224,676 $ 218, % $ 226, % Delta - North Jan-12 Jan-11 % change Dec-11 % change Jan-12 Jan-11 % change Dec-11 % change Jan-12 Jan-11 % change Dec-11 % change Sales % % % 2 0.0% % % New Listings % % % 3 333% % - #DIV/0! Active Listings % % % % % % Benchmark Price $ 511,900 $ 487, % $ 505, % $ 307,100 $ 321, % $ 309, % $ 178,400 $ 184, % $ 177, % Median Price $ 510,000 $ 480, % $ 491, % $ 487,450 $ 416, % $ 264, % $ 125,000 $ 130, % $ 106, % Average Price $ 536,753 $ 563, % $ 530, % $ 487,450 $ 425, % $ 340, % $ 133,750 $ 194, % $ 106, % Source: Fraser Valley Real Estate Board MLS Summary Page 2 of 3

5 Surrey - Combined* Jan-12 Jan-11 % change Dec-11 % change Jan-12 Jan-11 % change Dec-11 % change Jan-12 Jan-11 % change Dec-11 % change Sales % % % % % % Average Price $ 553,310 $ 539, % $ 560, % $ 328,182 $ 310, % $ 316, % $ 201,346 $ 203, % $ 224, % *Central Surrey, Cloverdale and North Surrey Surrey - Central Jan-12 Jan-11 % change Dec-11 % change Jan-12 Jan-11 % change Dec-11 % change Jan-12 Jan-11 % change Dec-11 % change Sales % % % % % % New Listings % % % % % % Active Listings % % % % % % Benchmark Price $ 541,900 $ 518, % $ 539, % $ 304,000 $ 300, % $ 308, % $ 194,600 $ 193, % $ 192, % Median Price $ 549,000 $ 535, % $ 531, % $ 330,000 $ 324, % $ 321, % $ 201,500 $ 213, % $ 205, % Average Price $ 560,331 $ 546, % $ 590, % $ 336,483 $ 313, % $ 319, % $ 203,148 $ 206, % $ 204, % Surrey - Cloverdale Jan-12 Jan-11 % change Dec-11 % change Jan-12 Jan-11 % change Dec-11 % change Jan-12 Jan-11 % change Dec-11 % change Sales % % % % % % New Listings % % % % % % Active Listings % % % % % % Benchmark Price $ 553,300 $ 536, % $ 560, % $ 320,500 $ 331, % $ 321, % $ 231,700 $ 228, % $ 228, % Median Price $ 533,500 $ 509, % $ 527, % $ 314,114 $ 315, % $ 310, % $ 233,950 $ 186, % $ 172, % Average Price $ 534,185 $ 526, % $ 548, % $ 333,192 $ 323, % $ 334, % $ 236,975 $ 203, % $ 219, % Surrey - North Jan-12 Jan-11 % change Dec-11 % change Jan-12 Jan-11 % change Dec-11 % change Jan-12 Jan-11 % change Dec-11 % change Sales % % % % % % New Listings % % % % % % Active Listings % % % % % % Benchmark Price $ 529,700 $ 508, % $ 523, % $ 261,800 $ 245, % $ 259, % $ 188,600 $ 183, % $ 183, % Median Price $ 518,300 $ 516, % $ 461, % $ 291,500 $ 290, % $ 210, % $ 194,500 $ 200, % $ 224, % Average Price $ 555,640 $ 533, % $ 503, % $ 293,396 $ 283, % $ 245, % $ 197,094 $ 202, % $ 239, % Source: Fraser Valley Real Estate Board MLS Summary Page 3 of 3

6 MLS Home Price Index - Fraser Valley January 2012 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 594, COMBINED FRASER VALLEY BOARD 443, NORTH DELTA 472, NORTH SURREY 376, SURREY 439, CLOVERDALE 450, SOUTH SURREY & WHITE ROCK 670, LANGLEY 413, ABBOTSFORD 316, MISSION 334, DETACHED LOWER MAINLAND 839, FRASER VALLEY BOARD 564, NORTH DELTA 511, NORTH SURREY 529, SURREY 541, CLOVERDALE 553, SOUTH SURREY & WHITE ROCK 905, LANGLEY 537, ABBOTSFORD 417, MISSION 354, TOWNHOUSE LOWER MAINLAND 408, FRASER VALLEY BOARD 311, NORTH DELTA 307, NORTH SURREY 261, SURREY 304, CLOVERDALE 320, SOUTH SURREY & WHITE ROCK 450, LANGLEY 299, ABBOTSFORD 232, MISSION 226, APARTMENT LOWER MAINLAND 344, FRASER VALLEY BOARD 199, NORTH DELTA 178, NORTH SURREY 188, SURREY 194, CLOVERDALE 231, SOUTH SURREY & WHITE ROCK 245, LANGLEY 205, ABBOTSFORD 163, MISSION 167, 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 4,000 2,

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

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