Fraser Valley Real Estate Board - Stats for September 2019
Posted by Mir Khan on Wednesday, October 2, 2019 9:08am
Stats from September 2019
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The Real Estate market in the Fraser Valley has been significantly better since June 2019 at sales ratio of 18%, July 2019 at sales ratio of 21%, August 2019 at sales ratio of 20%, and for September 2019 at sales ratio of 21% -- overall (for all property types) -- switched from a 'Balanced Market' back to a 'Sellers Market'.
Looking at Surrey, BC, Canada (for detached homes); the Aug 2019 sales ratio was at 16%, and it is closer to a 'Sellers Market' in Sept 2019, with the much better sales ratio at 20% -- still in a 'Balanced Market'. The average sales price slightly increased from Aug 2019 to Sept 2019 for detached homes in Surrey, BC, by 4% averaging at: $995,000. The inventory slightly dropping in Sept by 2% (that's 4 months in a ROW that the inventory has dropped now); and the sales 22% MORE in comparison to Aug 2019 for all detached homes in Surrey, BC. Lastly, the Days-On-Market (DOM) dropped by 5 days, to 27 days from 32 days in Aug 2019. For the most part, we are in a balanced market (ask me what this means) at 20% Sales Ratio for the entire Surrey detached single family homes.
The Detached Homes (Single Family Homes) in Sullivan Station Community - market has picked up since Aug 2019 at 15%, and, in September, quite STRONG at 25% --> a 'Seller's Market'.
'The market’s return to balance is good news for both buyers and sellers, however it’s important to put the 30 per cent year‐over‐year increase in sales into context. September’s sales went from amongst the worst in 10 years to just above our 10‐year average.' (Source: News Release Fraser Valley Real Estate Board, October 2, 2019)
Please contact me at: (778) 558-4427 or email me at: email@example.com for full details and understanding of how the market is doing, right now. I can share the most recent Fraser Valley and the Greater Vancouver Stats with you, if you are looking to selling your home. Please call us; my Team & I will be glad to be of service. :-)
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Thanks for reading & viewing.
Mir Khan Certified International Property Specialist, International Realtor Century 21 AAA Realty Inc. (778) 558-4427 firstname.lastname@example.org www.MirKhan.ca