Now in our 10th year of Real Estate Sales Colin and I continue to see our business grow year-over-year. That growth could not be possible if it weren’t for the referral of your family and friends and your ongoing loyalty. From the bottom of our hearts, thank you.
Fraser’s Valley’s real estate market returned to normal activity levels in 2014 with sales of single family detached homes leading the way.
It was a busy year for both buyers and sellers. In 2014, both sales and new listings were stronger in the Fraser Valley compared to 2013 – most notably for detached homes and townhomes –returning us to normal market activity for our region on par with our 10-year average.
Sales during the month of December followed the same trend as every month in 2014 with sales surpassing the same month compared to 2013. It was the third busiest December we’ve experienced in the last decade with sales almost keeping pace with the number of new listings and as a result, we’ve seen our inventory deplete, which is normal for this time of year however, our selection hasn’t been this low for almost eight years. We hope to see the usual influx of new listings during the first quarter of 2015 because we’re currently seeing a shortage of affordably priced single family detached homes in certain areas.
Home prices in December continued along the same trends as seen for most of 2014, with prices of single family detached homes continuing to rise; townhouse prices remaining steady, and apartment prices decreasing slightly however these trends are overall for the Fraser Valley – townhome and condo pricing has been highly variable in some areas more than others due to a high supply of new development product.
The MLS Home Price Index benchmark price of a detached home in December was $573,100, townhouses in December were at $293,500 and apartments now at $191,100
If you have any questions regarding market fluctuations in your area or are interested in a free, no obligation home evaluation please contact us anytime. 604-583-2000