Overall housing supply continued to grow in July as sales dropped to their lowest point this year since January.
The Fraser Valley Real Estate Board processed 1,290 sales of all property types on its Multiple Listing Service® (MLS®) in July, a decrease of 33.4 per cent compared to the 1,937 sales in July of last year, and a 11.2 per cent decrease compared to the 1,452 sales in June 2018.
Of the 1,290 sales processed last month 346 were townhouses and 337 were apartments, together representing 53 per cent of all transactions in July.
Active inventory for the Fraser Valley in July finished at 7,399 listings, increasing 3.6 per cent month-over-month and 23.9 per cent year-over-year.
2,921 new listings were received by the Board in July, a 7 per cent decrease from June 2018’s 3,140 new listings, and a 11.5 per cent decrease compared to July 2017’s intake.
For the Fraser Valley region, the average number of days to sell an apartment in July was 21, and 24 for townhomes. Single family detached homes remained on the market for an average of 31 days before selling.
HPI® Benchmark Price Activity
Find the July Statistics Package here.
Fraser Valley Real Estate Board Aug 2 2018