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    June 2019 Market Stats

    Posted by Andy Boldt on July 4, 2019
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    The Statistics for June 2019 in the Fraser Valley are in and it looks like a game of wait and see. Across the board, sales are well below (-29.3%) the 10 year average, but the number of new listings also are down (-9.6%) compared to the 10 year average. The amount of Active listings continues to stay high with a 19.3% increase over last year, but only a 0.1% increase over May. 

    Darin Germyn, President of the Board comments 'This has created a great opportunity for buyers in the Fraser Valley. Inventory overall is growing; prices of benchmark, or typical homes, have decreased 6 to 10 per cent over the past year and interest rates are still holding firm.'

    While the Fraser Valley as a whole is firmly in a balanced market, certain areas and types of homes are on different ends of the spectrum. It's a buyers market for detached homes in S. Surrey / White Rock, while it's getting close to being a sellers market in for townhouses in Langley.

    Here is a location specific breakdown. 

     

    In Mission, the Sales to Active Listing Ratio is 19%, putting us very close to a sellers market. Compared to June of 2018, there was a 31.4% increase of detached home sales, 50% increase of Townhouse sales and a 14% decrease in Apartment sales. The benchmark price comes in 5.4% lower than last year for Detached homes, 0.7% lower for Townhomes and 6.2% lower for Apartments.

     

    In Abbotsford, the Sales to Active Listing Ratio is 16%, putting us right in the middle of a balanced market. Compared to June of 2018, there was a 14.4% decrease of detached home sales, 10.6% decrease of Townhouse sales and a 3.8% increase in Apartment sales. The benchmark price comes in 3.9% lower than last year for Detached homes, 7.2% lower for Townhomes and 12.4% lower for Apartments.

     

    In Langley, the Sales to Active Listing Ratio is 16.7%, putting us right in the middle of a balanced market. Compared to June of 2018, there was a 31.4% increase of detached home sales, 50% increase of Townhouse sales and a 14% decrease in Apartment sales. The benchmark price comes in 5.4% lower than last year for Detached homes, 0.7% lower for Townhomes and 6.2% lower for Apartments.

     

     As always, feel free to call or email if you have any questions, we'd be glad to help!