The numbers are now in and we can confirm that August 2017 was the second strongest August on record in terms of sales. Sales were up 10.9% compared to last August and only dipped 3% from last month.
“It’s not surprising to see demand like this still so late into the summer; the Fraser Valley has never been a better place to live than it is now. Our communities are thriving, and there are still affordable options throughout our region. Also, it doesn’t hurt that removing the bridge tolls gives us even greater access to the Lower Mainland.”
– Gopal Sahota, Fraser Valley Real Estate Board President
The biggest takeaway from this month’s news release is the major activity in the apartment and townhouse market. Sales for these two property types made up 52% of market activity in August. The Fraser Valley Real Estate Board warns buyers looking for townhouses or apartments to be ready to act quickly because these units sell faster than they ever have here. For example, in August the average days to sell an apartment is just 16 days compared to 26 days last August.
Below are several numbers for individual markets throughout the Fraser Valley for detached houses, townhouses, and condos.
Detached House Statistics
| Sales | New Listings | Active Listings | Benchmark Price | Average Price | |
| Abbotsford | 105 | 169 | 347 | $785,400 | $786,555 |
| White Rock/South Surrey | 81 | 175 | 612 | $1,521,000 | $1,539,501 |
| Langley | 117 | 162 | 284 | $1,007,400 | $1,046,408 |
| Delta – North | 53 | 83 | 164 | $913,600 | $1,002,482 |
| Surrey – Central | 132 | 261 | 599 | $998,100 | $1,051,854 |
| Surrey -Cloverdale | 53 | 70 | 124 | $1,012,800 | $961,803 |
| Surrey – North | 66 | 132 | 304 | $932,100 | $953,551 |
Townhouse Statistics
| Sales | New Listings | Active Listings | Benchmark Price | Average Price | |
| Abbotsford | 65 | 60 | 79 | $340,500 | $448,492 |
| White Rock/South Surrey | 74 | 101 | 141 | $637,500 | $671,763 |
| Langley | 91 | 101 | 102 | $464,500 | $554,414 |
| Delta – North | 10 | 12 | 21 | $556,200 | $553,550 |
| Surrey – Central | 127 | 143 | 172 | $526,000 | $532,285 |
| Surrey -Cloverdale | 68 | 72 | 60 | $551,600 | $545,495 |
| Surrey – North | 28 | 44 | 62 | $501,200 | $452,055 |
Condos Statistics
| Sales | New Listings | Active Listings | Benchmark Price | Average Price | |
| Abbotsford | 110 | 115 | 116 | $259,800 | $245,084 |
| White Rock/South Surrey | 101 | 86 | 111 | $449,400 | $462,961 |
| Langley | 88 | 80 | 73 | $361,800 | $331,482 |
| Delta – North | 9 | 16 | 32 | $324,100 | $400,753 |
| Surrey – Central | 53 | 58 | 57 | $345,900 | $314,769 |
| Surrey -Cloverdale | 31 | 37 | 37 | $404,200 | $343,338 |
| Surrey – North | 154 | 160 | 211 | $333,900 | $320,875 |
For more information about the state of today’s market or how to become a buyer ready to make an attractive offer in this fast moving market, please contact The Taylor Team of Sutton WestCoast Realty by calling or texting 1-778-316-4290 or contacting us online.
You can read the full real estate package here.
