Fraser Valley Real Estate releases statistical package for end of 2013:
Summary: source (FVREB) release date January 3 2014.
-The Fraser Valley real estate market remained steady and a touch slower than previous year but in the end the market mirrored trends of 2012.
Some numbers for you:
Total Sales Volume for 2013: 13,663 sales – reduction of 1.5% from 2012. Should be noted that there were 5.5% less listings for properties in 2013 as well.
Ron Todson, FVREB president, attributed this reduction in sales in 2013 to tighter mortgage regulations that were introduced at beginning of year. He also attributed decrease in supply and steady sales to creating a stable home pricing trend.
Benchmark price of detached homes: (for the Fraser Valley)
$549,500 (2013) vs $539,000 in 2012.
Townhouses and apartments continue to see slight decreases in overall benchmark prices and unit sales, around -1.9% for townhomes and -3.7% for apartments, but nothing too dramatic.
Ending on a positive note, December 2013 showed an increase of 34% of overall sales vs December 2012.
Source: FVREB press release January 3 2013.