Did you know that 2015 is named the strongest year in real estate in a decade?
In fact, Fraser Valley property sales were just shy of historical sales from 2005.
For those who love numbers, here’s a short recap of 2015 Fraser Valley real estate stats according to the latest FVREB stats package.
- 30,998 – new listings received by the Board in 2015.
- 21,095 – number of sales processed in 2015 (33% increase from 2014).
- $12.1 billion – total dollar volume of MLS® sales ($4 billion more than 2014).
- $672,400 – MLS® Home Price Index benchmark price of a detached home in December.
So what do these numbers mean?
Jorda Maisey, President of the Fraser Valley Real Estate Board, says that consumers recognize the strong long-term value of home ownership in the Fraser Valley. Single family homes are especially being viewed more and more as a limited commodity. As a result, sales of single family detached homes increased across all communities. In fact, sales in some communities doubled from the previous year.
The strong market can be attributed to a strong economy. Maisey says, “The Fraser Valley has always appealed to consumers looking for competitive pricing and a diverse range of housing options.”
If 2015 is any indication for this coming year we should expect to see a continued sellers’ market as there is very low inventory. Sellers have a great opportunity while buyers may find it challenging. If buying a home this year is on your list of things to do I’d be happy to help you explore all your options and even consider delightful communities you may have not even thought of. Just because it’s a sellers’ market doesn’t mean you don’t deserve to find the perfect home.
Call or text me at 778-316-4290 to start the conversation.