Buying and Selling Real Estate Blog
Selling Unique BC Properties
December 2019 Market Stats
Let's take a quick look at how 2019 went before we get into the details of December 2019.
The year 2019 as a whole was a bit slower then average with a 0.6% decrease of Sales compared to 2018, which makes it the lowest in total sales transactions since 2013. We have also seen the lowest amount of new listings since 2013 with a 12.1% decrease from 2016, a 4.6% decrease from 2018 and a 0.2% decrease from 2014. The average price of all homes in the Fraser Valley for 2019 is $1,007,124 which is a 3.7% decrease from last year but a 9.6% increase from 2016 and a 56.7% from 2014.
Moving onto the December 2019 monthly stats, we see that December finished strong. There were 1,247 sales processed with an Active inventory of 4,686. The Active inventory is over 20% lower then the 10 year average. Darin Germyn, President of the Board commented 'Some sellers have been holding back on listing, waiting until the market improves, with the result that supply in many areas currently is quite tight; so if you're looking to enter the market in 2020, now is a good time. Without a healthy supply of inventory in the coming months, we could see upward pressure on prices.'
To see the detailed stats Click Here