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Normally I have been posting my market updates on my Facebook page in the first week of every month. From now on I will also post these updates here on the new bradr blog. Revised from Facebook:

 

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All this talk about the Vancouver sellers market receding - how about here in the Fraser Valley?

Well, the June numbers are in and as predicted, the sales-to-listing ratios are holding steady throughout the Valley. Year-to-year comparisons suggest we are on par with 2011 and benchmark prices are up slightly 3.6%.

However, many are looking to the fall market to see what sort of effect the new mortgage rates and Vancouver's slowdown will have on the outlying areas.

Abbotsford, Langley, and Cloverdale hold steady, more or less, year after year, with the greatest variances found in North and South Surrey/White Rock.

Market Breakdown:

ABBOTSFORD (Detached homes)
Inventory: 6.5 Months (Buyers Market)
Last June: 6.3 Months
Benchmark Price: $432,000 (+3.6% from 2011)


CLOVERDALE (Detached homes)
Inventory: 4.1 Months (Sellers Market)
Last June: 3.7 Months
Benchmark Price: $572,200 (+3.4% from 2011)


LANGLEY (Detached homes)
Inventory: 4.9 Months (Balanced Market)
Last June: 4.2 Months
Benchmark Price: $541,200 (+/- 0% from 2011)


SURREY CENTRAL (Detached homes)
Inventory: 5.3 Months (Balanced Market)
Last June: 4.5 Months
Benchmark Price: $565,900 (+5.5% from 2011)


WHITE ROCK/SOUTH SURREY (Detached homes)
Inventory: 6.3 Months (Buyers Market)
Last June: 3.6 Months
Benchmark Price: $882,900 (+5.9% from 2011)


For any additional municipalities or property types, please contact me directly. 604-530-4111 or email bradrichert@macrealty.com

 

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