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EARLY SPRING FEVER HITS FRASER VALLEY REAL ESTATE MARKET
(Surrey, BC) – In February, sales of all property types in the Fraser Valley increased by 21 per cent in one year with demand for two property types in particular - single family detached homes and townhomes - outpacing supply.
 
Last month, the Fraser Valley Real Estate Board processed 1,337 sales on the Multiple Listing Service® compared to 1,102 sales in February of last year. New listings in February totaled 2,610 which added up to 7,864 active listings, up from January’s 7,307 but a decrease of 4 per cent compared to February 2014’s 8,210 active listings.
 
“It was our busiest February since 2007,” says newly elected Board President Jorda Maisey. “In my community of Langley, the average number of days to sell a detached home is now less than one month and it’s a challenge finding the right product for some of our buyers, however every area is different. To understand the market for your home in your neighbourhood, talk to your REALTOR®.”
 
A measurement the real estate industry relies on to gauge the health of the housing market is the ratio between sales and active listings. For the Lower Mainland, the balanced range is between 12 and ... more

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