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Written on February 2nd, 2016

South Surrey/White Rock Real Estate

Fraser Valley’s real estate market showed no signs of slowing down, producing the strongest sales for January on record.
The Fraser Valley Real Estate Board processed 1,338 sales on its Multiple Listing Service® (MLS®) in January, an increase of 57 per cent compared to January 2015 and 13 per cent fewer then were processed in December. Sales in January ranked at the top for the last ten years coming in 57 per cent over the 10‐year average, and 5 per cent higher than the previous record of 1,270 sales in January 1992.

Jorda Maisey, President of the Board said, “Typically, we see January numbers slow down post‐holiday season, but so far demand for Fraser Valley homes hasn’t let up. There are a lot of people out there who will want your home.” Across Fraser Valley, the average number of days to sell a single family detached home in January 2016 was 33 days, compared to 55 days in January 2015.
The MLS® HPI benchmark price of a Fraser Valley single family detached home in January was $691,100, an increase of 20.9 per cent compared to January 2015 when it was $571,700.
In January, the benchmark price of townhouses was $334,400, an increase of 13.8 per cent compared to $293,800 in January 2015.

The benchmark price of apartments also increased year‐over‐year by 7.8 per cent, going from $189,500 in January 2015 to $204,300 in January 2016.

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http://www.fvreb.bc.ca/statistics/Package%20201601.pdf