There were 1,297 home sales in the Fraser Valley in August, an 12.3% increase from a year earlier.
The number of active listings (8,040) was 9.6% above August 2018 levels but new listings were down 8.5% year-over-year to 2,357.
Month-over-month, sales were down 11%, inventory was down 3.6%, and new listings were down almost 16%.
“Compared to last year, this August has been quite robust. All property types are selling and we’re seeing a resurgence in the single-family detached market. Across North Delta, Surrey and Langley, sales are up over 25%,” said Darin Germyn, President of the Board. “It’s great to see. We’re returning to a normal, steady market. Our sales, new listings and number of active listings in August were all slightly below the 10-year average.”
HPI benchmark price activity
Single Family Detached: At $954,100, the Benchmark price for a single-family detached home in the Fraser Valley decreased 0.3% compared to July 2019 and decreased 5.4% compared to August 2018.
Townhomes: At $521,400, the Benchmark price for a townhome in the Fraser Valley in the Fraser Valley increased 0.1% compared to July 2019 and decreased 4.9% compared to August 2018.
Apartments: At $409,200, the Benchmark price for apartments/condos in the Fraser Valley decreased 0.1% compared to July 2019 and decreased 7.7% compared to August 2018.
More market update: