It's so hot it's like we're only a mile from the sun!

 

Look at these numbers--80% of the homes listed in the Walnut Grove area are selling!  What this graph isn't showing you is that those homes are also selling for top dollar (average price is about $650K for a three bedroom home) and on average in about 21 days.  That number, being that it's an average, is skewed due to some higher priced  homes that typically take a little longer to sell.  As REALTOR®s  we are finding that a typical benchmark home...3 bedrooms, den or games room, 5700sqft lot, 2200sqft home....is selling in 7 days or less!  Most of the time the home you want is sold before it even hits the market--REALTOR®s network with one another and often we get to preview a home before other REALTOR®s do thereby giving our buyers a tremendous advantage.  If you're in the market to find a home in the Walnut Grove area, do yourself a favor and employ the services of a REALTOR® to help you. It doesn't cost you any money but it's an invaluable service!!

 

 

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STRONG SALES VOLUMES CONTINUE THROUGH APRIL

(Surrey, BC) – Property sales in the Fraser Valley soared in April compared to one year ago increasing by 37 percent.

There were 2,009 sales processed on the Fraser Valley Real Estate Board Multiple Listing Service® (MLS®) in April, compared to 1,470 in April of last year. These volumes rank third highest of all time for the month with the next best April in 2004 and prior to that in 1991.

“April was a very active market,” says Jorda Maisey, Board President. “The low cost of borrowing continues to attract first-time buyers and families looking to either downsize or upsize as they take advantage of the equity they’ve built up in their existing homes.”

Though there was a 2 per cent increase in new listings processed in April, as compared to April 2014, the increase was not enough to balance out the market. Total active inventory on the MLS® at month’s end was 8,384 properties, the lowest for the month of April in eight years.

As Maisey explains, what sellers are most looking for is a single family detached home, “In some of our areas, sixty to seventy per cent of inventory is selling. Depending on the location, some detached homes are selling in a matter of days, not weeks, which is why if you’re a buyer it’s so important to work with a professional who knows your neighbourhood and is networked with other REALTORS®.”

With demand high and available product slim, the benchmark price of single family detached homes continues to increase in most areas. In April, the MLS® HPI benchmark price of a detached home was $595,600, an increase of 5.2 per cent compared to April 2014 when it was $566,000.

The benchmark price of townhouses in April was $300,400, an increase of 0.6 per cent compared to $298,700 in April 2014. The benchmark price of apartments decreased year-over-year by 2.6 per cent, going from $196,300 in April 2014, to $191,200 last month.

Maisey adds, “For apartment owners, take heart, the condominium market in the Fraser Valley is improving. We are starting to see more activity at open houses and an increase in the number of sales; however, that market remains firmly in balance with plenty of selection and prices still flat or declining in certain areas.”

Full package:
http://www.fvreb.bc.ca/statistics/Package%20201504.pdf

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The data relating to real estate on this website comes in part from the MLS® Reciprocity program of either the Real Estate Board of Greater Vancouver (REBGV), the Fraser Valley Real Estate Board (FVREB) or the Chilliwack and District Real Estate Board (CADREB). Real estate listings held by participating real estate firms are marked with the MLS® logo and detailed information about the listing includes the name of the listing agent. This representation is based in whole or part on data generated by either the REBGV, the FVREB or the CADREB which assumes no responsibility for its accuracy. The materials contained on this page may not be reproduced without the express written consent of either the REBGV, the FVREB or the CADREB.