New high for Fraser Valley apartment sales

Monday, July 10th, 2017

Steve Randall
Canadian Real Estate Wealth

Overall home sales in the Fraser Valley area were down 10 per cent in June from a year earlier and 5 per cent from May with 2,571 sales.

Apartment sales though hit a new high, representing 27 per cent of all sales by the Fraser Valley Real Estate Board’s members, and up 13.1 per cent year-over-year and 12.2 per cent month-over-month.

“We knew that there was a growing appetite for our attached properties, but this month was exceptional,” said Gopal Sahota, Board President. “I think one reason demand has continued to be so strong for our region is that we have such diverse, robust inventory to help buyers find the right home even in a more complex market like this one.”

Apartment prices were up more than 40 per cent year-over-year to a benchmark $325,300. Single-family detached prices were up 2.1 per cent to $934,600 and townhomes were up 20.6 per cent to $467,000.

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