Province
Real-estate sales in the Fraser Valley have started the year off with a bang, new figures show.
The Fraser Valley Real Estate Board says sales for January increased by 38 per cent over January 2005.
There were 1,165 sales recorded during the month, which ties January 2002 as the third most productive January ever.
“In December experts forecast more moderation for the year ahead but so far that’s not the case for the Fraser Valley,” said Jake Siemens, president of the Fraser Valley Real Estate Board.
“Not only have sales increased by 38 per cent in one year, the dollar value of January sales increased by 71 per cent compared to January 2005,” he added.
Meanwhile, the Real Estate Board of Greater Vancouver says its overall sales increased by 13.2 per cent to 1,924 units in January from 1,700 units for January 2005.
“Driven by strong demand and affordability, townhouse and condominium sales remain very active,” said Georges Pahud, the REBGV president.
“Right now more than 50 per cent of active residential listings are priced under the Greater Vancouver average of $456,952, while more than 15 per cent of listings are available under $250,000,” he added.
Pahud also said that nearly 68 per cent of sales in January were under the average price.