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.