FVREB SURREY, BC – A noticeable lift in home sales and slight decrease in new listings bolstered the Fraser Valley housing market in July. Chris Shields, President-Elect of the Board, observed, "We've been expecting market improvement, but didn't quite anticipate July's momentum. Sellers are now recognizing that although listing prices are down, it's also now more affordable to buy."
HPI® Benchmark Price Activity
- Single Family Detached: At $957,400, the Benchmark price for a single-family detached home in the Fraser Valley decreased 0.3 per cent compared to June 2019 and decreased 6.3 per cent compared to July 2018.
- Townhomes: At $520,700, the Benchmark price for a townhome in the Fraser Valley in the Fraser Valley decreased 0.9 per cent compared to June 2019 and decreased 6.6 per cent compared to July 2018.
- Apartments: At $409,700, the Benchmark price for apartments/condos in the Fraser Valley remained unchanged compared to June 2019 and decreased 9 per cent compared to July 2018.