Released just a couple of days ago, the Fraser Valley Real Estate Board’s (FVREB) statistics package for December 2015 shows evidence that December brought a strong close to a very strong year in real estate in Surrey, White Rock, Langley, and other Valley communities.
In fact, 2015 was the second highest year for property sales in the Fraser Valley, falling just short of 2005. So what do December real estate stats tell us?
44% more sales processed than December 2014.
In total, 1,543 sales were processed through the Board this month which is significantly higher than last December. President of the FVREB Jorda Maisey credits the Fraser Valley’s strong economy, competitive pricing, and diverse range of housing options as reasons for market strength throughout the entire year.
33% fewer listings available than December 2014.
There were only 4,280 active listings this December which is significantly lower than what it was last year. This is making most local real estate markets a “sellers’ market” with buyers having to get creative and think outside the box when trying to find their dream home.
Benchmark prices increase across all property types.
We saw increases in the MLS® Home Price Index benchmark price for detached houses, townhomes, and condos:
- Detached Home +17.3% ($672,400 vs 573,100 last December)
- Townhouses +9.6% ($293,000 vs 321,800 last December)
- Condos/ Apartments +7.3% ($204,900 vs 191, 100 last December)
You can view the full real estate stats package here to see specific prices for communities and property types, such as a South detached home benchmark price of $1,102,000 or a North Surrey Condo benchmark price of $200,000.
For more information about what all these numbers and market conditions mean for you, call or text Natasha Taylor at 778-316-4290 or send an email to ntaylor@sutton.com.
