According to the recent market report from the FVREB, there was an 11% increase in sales over July last year and a 1.4% above the 10 yea average.
President of the Board, Ray Werger had this to say:
“July’s steady activity is a continuation of what we’ve been seeing all year. Our market has fully recovered from last year’s slump and has returned to what we typically see in the Fraser Valley, which is a steady, consistent market... we’re actually seeing a shortage of listings creating a seller’s market for particular homes."
In July the benchmark price determined by the MLS HPI of a 'typical' single family detached home was $568,300; for Townhouses it is $298, 500; for apartments it was $194,700.
To view the full report, click here.
Do you have questions about what a seller's market means for you? Think this is the time to sell? Contact me to help you sell your home fast & take that next step on the property ladder!
Image Source: Rew.ca