According to the Fraser Valley Real Estate Board, home sale activity reached a 5-year high in the Fraser Valley in March. In terms of sales, on the Multiple Listing Service® (MLS), Fraser Valley REALTORS® experienced their busiest March since 2006.
According to their monthly statistics package, the Fraser Valley Real Estate Board processed 1,818 property sales in March, up 16 per cent compared to March 2010, and up 42 per cent compared to February 2010 when 1,279 sales were processed.
There were also big increases in the number of new properties being listed for sale (up 11 per cent). There were 3,376 new properties listed in March compared to 3,038 new listings in February. This gives buyers more choice at a time which is traditionally one of the most popular times to house hunt.
There was also good news for anyone selling a property as prices were also on the increase. In March, the benchmark price for detached homes in the Fraser Valley was $519,628, up 0.9 per cent from the the benchmark price of $514,787 in March 2010. The benchmark price is the estimated sale price of a benchmark property, benchmarks represent a typical property within each market.
If you are looking to buy or sell a property in and around the Fraser Valley then talk to us. We will be glad to be of service. Have a look at all the Fraser Valley properties for sale on our listings page.
The Fraser Valley Real Estate Board is an association of 2,919 real estate professionals who live and work in the communities of North Delta, Surrey, White Rock, Langley, Abbotsford, and Mission. For more information on the March 2011 Fraser Valley Real Estate stats or other monthly reports, see the official Fraser Valley Real Estate Board website.