Houses in Surrey. (File photo)

It was a hot August for home sales and new listings in Fraser Valley

‘We remain cautiously optimistic and are encouraged by the numbers,’ FVREB president says

August was a relatively hot month for home sales and new listings in the region covered by the Fraser Valley Real Estate Board’s Multiple Listing Service.

The MLS numbers for the month saw the second highest number of property sales and highest number of new listings in August over the last two decades.

The FVREB processed 2,039 sales in August — a decrease of 2.9 per cent compared to sales in July, but an increase of 57.2 per cent compared to the 1,297 sales during August of last year.

The board says last month’s sales were 39 per cent above the 10-year average for August, representing the highest August in the last decade and second only to what was recorded back in August 2005, when 2,298 sales were recorded.

The Fraser Valley Real Estate Board is an association of 3,700 real estate pros in North Delta, Surrey, White Rock, Langley, Abbotsford and Mission.

(Story continues below)

“We are seeing better sales volumes increase month over month because buyers are recognizing that the Fraser Valley offers increased choice and diversified housing opportunities, while offering more value as well,” Chris Shields, president of the board, said in a news release.

“In an unusual situation given the pandemic, we remain cautiously optimistic and are encouraged by the numbers we are seeing.”

In August, the average number of days to sell an apartment was 36; 24 for townhomes, and 31 for single family detached.

The Fraser Valley Board received 3,309 new listings in August, 28.9 per cent above the 10-year average for the month.

All the stats for the month are posted to fvreb.bc.ca/statistics/eStats-2020-08.html.

FVREB’s benchmark price activity for August 2020

Single Family Detached: At $1,019,600, the Benchmark price for a single-family detached home in the Fraser Valley increased 1.2 per cent compared to July and, increased 6.9 per cent compared to August 2019.

Townhomes: At $563,900, the Benchmark price for a townhome in the Fraser Valley increased 0.1 per cent compared to July and increased 3 per cent compared to August 2019.

Apartments: At $437,300, the Benchmark price for apartments/condos in the Fraser Valley remain unchanged compared to July and increased 4 per cent compared to August 2019.



tom.zillich@surreynowleader.com

Like us on Facebook Follow us on Instagram and follow Tom on Twitter

home sales

Get local stories you won't find anywhere else right to your inbox.
Sign up here

Just Posted

The website Chigoby is among eight scam online retailers that have been identified by the Better Business Bureau. The site was fraudulently using an Abbotsford residential address, but has since switched to one in Poland.
Eight scam online-shopping websites fraudulently use Abbotsford address

Better Business Bureau says victims lost hundreds for non-existent or poor-quality products

Last year, the Mission Christmas Bureau celebrated its office opening with an open house. Covid-19 has forced the organization to switch to online registrations this year. / Kevin Mills File Photo
Registration for this year’s Mission Christmas Bureau will be completed online

Bureau gearing up to make Christmas possible for hundreds of local families and children in need

Barry Shantz in 2015 in front of a homeless camp at Gladys Avenue and Cyril Street. Abbotsford News file photo.
RCMP officers cleared in killing of Abbotsford homeless advocate

Barry Shantz was shot following a mental health crisis at his home on on Jan. 13, 2020,

Police tape is shown in Toronto Tuesday, May 2, 2017. (Graeme Roy/The Canadian Press)
CRIME STOPPERS: ‘Most wanted’ for the week of Oct. 18

Crime Stoppers’ weekly list based on information provided by police investigators

Local photographer Wolf Drescher spotted film crews set up along Esplanade Avenue in front of Canwest Art Gallery on the Lake on Thursday, October 1. Film production crews working on ‘Solitary’ will be around the area until close to the end of the month. (Contributed Photo/Wolf Drescher)
“Solitary” Update: Dramatic action scene to be filmed in Agassiz

‘Solitary’ will film a break-in, getaway at Kent Outdoors

FILE – People wait in line at a COVID-19 testing facility in Burnaby, B.C., on Thursday, August 13, 2020. THE CANADIAN PRESS/Darryl Dyck
167 new COVID-19 cases, 1 death recorded as B.C. enters 2nd wave

Three new healthcare outbreaks also announced

The Surrey Eagles are currently seeking billet families for its players in advance of the 2020-‘21 BC Hockey League season. (Garrett James photo)
BCHL team in ‘desperate’ need of billet families for upcoming hockey season

COVID-19 pandemic has made finding homes for players difficult: billet co-ordinator

John Horgan brought the NDP campaign to Langley on Wednesday, Oct. 21, just three days before the B.C. vote (Matthew Claxton/Langley Advance Times)
Horgan brings NDP campaign to Langley

Predicts gains, says people are looking at the party ‘differently’ after three years

A glimpse of some of the 480 (approx) cars written off as a result of the acid spills along the Trail highway in 2018. Photo: Trail Times
Kootenay Ford dealer’s frustration grows with ICBC

Trail AM Ford owner Dan Ashman says he just wants fair compensation from ICBC

Mail-in ballot from Elections BC (Katya Slepian/Black Press Media)
At least 26% of eligible voters have already cast their ballot, Elections BC says

Voters can cast a ballot until 8 p.m PST on Election Day

RCMP were called to an assault in the 23700-block of 110 Ave in Maple Ridge Tuesday, Oct. 20, 2020. (Curtis Kreklau/Special to The News)
PHOTOS: Assault in Maple Ridge sends three men to hospital

RCMP were called to a residence Tuesday night

A 2018 decision to fly a rainbow flag ended up costing the City of Langley $62,000 in legal fees (Langley Advance Times file)
Human rights win in rainbow flag fight cost B.C. city $62,000

“Lengthy and involved” process provoked by complaint

A black bear targets a bird feeder by the Rotary Trail along the Vedder River in Chilliwack on Oct. 7, 2020. (William Snow photo)
Public safety of residents cited as young bear euthanized in Chilliwack

Human-habituated bear was hanging around residential areas and bird feeders near the Vedder River

Most Read