“Attached home sales thrive as overall inventory remains scarce.”

Each month the Fraser Valley Real Estate Board releases real estate statistics for communities throughout the Fraser Valley including North Delta, North Surrey, Surrey, Cloverdale, South Surrey & White Rock, Langley, Abbotsford, and Mission.

There is a lot of data to look at including benchmark prices, number of sales, number of new listings, average price, and more. You can look at these numbers overall for the Fraser Valley or on a detailed level by city or property type (detached, townhouse, apartment).

If you aren’t familiar with how to interpret numbers or tend to shy away from data, you can still find great value in the summary page of these reports.

Here are the main takeaways from the March 2017 Real Estate Statistics package.

1. March housing sales in the Fraser Valley reached their second highest point in ten years.

2. Inventory levels are still not where the FVREB would like to see them, particularly moving deeper into the spring season, says Board President President Gopal Sahota.

Total active listings in the Fraser Valley was 4,808 – the lowest level seen in March in ten years.

3. Townhouses and condos made up over half of the Fraser Valley’s total sales of all property types for the 7th month in a row.

4. Buyers are moving to condo and townhouse properties which is helping to take the pressure and demand off single family detached homes.

5. As more buyers are moving to attached homes, competition is increasing rapidly and these types of listings are moving very fast!

View the March 2017 Release Package for full details.

If you are interested in buying a condo or townhouse check out these current listings:

Better yet, contact Natasha Taylor Sutton West Coast Realty to have a professional Realtor® on your side. In this fast moving market you need to be ready to move and approach the negotiating process with the best strategies in order to get the best deal possible.