Fraser Valley

March home sales growth off last month’s pace, but supply still building in the Fraser Valley

Retrieved on: 
Wednesday, April 3, 2024
Knowledge, Fraser Valley

Sales were the second lowest recorded for a March in a decade.

Key Points: 
  • Sales were the second lowest recorded for a March in a decade.
  • Active listings were 6,197, up by 11 per cent over last month and by 37 per cent over March 2023.
  • “With inventory building, buyers now have more opportunities in both the detached and attached markets compared to one year ago,” said Jeff Chadha, Chair of the Fraser Valley Real Estate Board.
  • The Fraser Valley Real Estate Board is an association of 5,160 real estate professionals who live and work in the BC communities of Abbotsford, Langley, Mission, North Delta, Surrey, and White Rock.

Sales, listings continue to pick up heading into spring

Retrieved on: 
Monday, March 4, 2024
Bank, Fraser Valley, Knowledge, Cryptocurrency

New listings increased to 2,797 in February, up 18 per cent from January and 4 per cent above the 10-year average.

Key Points: 
  • New listings increased to 2,797 in February, up 18 per cent from January and 4 per cent above the 10-year average.
  • “There is somewhat of a buzz in the market right now,” said Narinder Bains, Chair of the Fraser Valley Real Estate Board.
  • “We are seeing new listings come onto the market and REALTORS® continue to see more traffic at open houses, however buyers are still exercising caution.
  • With a sales-to-active listings ratio of 22 per cent, overall market conditions are edging into a seller’s market.

eXp Realty Continues to Welcome Top Talent Around the World

Retrieved on: 
Friday, February 16, 2024
Fort Collins, Colorado, Greater Vancouver, Associate, Exp, CAD, CCIM, Fraser Valley, Knowledge, DMV, Mojica

"This year is shaping up to be an exciting year for eXp Realty as we continue to experience strong growth,” said Michael Valdes, Chief Growth Officer at eXp Realty.

Key Points: 
  • "This year is shaping up to be an exciting year for eXp Realty as we continue to experience strong growth,” said Michael Valdes, Chief Growth Officer at eXp Realty.
  • Justin Havre moved his 60-agent Justin Havre Real Estate Team, Canada’s #1 RE/MAX team for five straight years, to eXp Realty.
  • The Hub Real Estate and its founders, Shaun Dolon and Philip Hofeling, moved their 32-agent Colorado team to eXp Realty.
  • These recent additions and achievements highlight eXp Realty's commitment to attracting top talent and providing a supportive and innovative platform for its agents to thrive.

Fraser Valley real estate market weakens as sales and prices continue to edge downward

Retrieved on: 
Thursday, November 2, 2023
Benchmark, Fraser Valley, Policy, Housing, Face, Single-family detached home, Movement, Cryptocurrency

The Fraser Valley Real Estate Board recorded 970 transactions on its Multiple Listing Service® (MLS®) in October, a drop of 12 per cent from the previous month and the fourth consecutive decrease since the 12-month high of 1,935 sales recorded in June.

Key Points: 
  • The Fraser Valley Real Estate Board recorded 970 transactions on its Multiple Listing Service® (MLS®) in October, a drop of 12 per cent from the previous month and the fourth consecutive decrease since the 12-month high of 1,935 sales recorded in June.
  • “What we’re seeing in the Fraser Valley and indeed across the province is the impact of sustained high interest rates on the overall market,” said Narinder Bains, Chair of the Fraser Valley Real Estate Board.
  • The sales-to-active listings ratio was 15 per cent, creating balanced conditions in the overall market, with detached houses dipping into buyers’ market territory at 12 per cent.
  • The Fraser Valley Real Estate Board is an association of 5,140 real estate professionals who live and work in the BC communities of Abbotsford, Langley, Mission, North Delta, Surrey, and White Rock.

NAIOP Vancouver Chapter and Bunt & Associates Engineering Unveil First-of-its-Kind Industrial Parking Study

Retrieved on: 
Wednesday, November 1, 2023
Associate, Principal, Engineering, Education, Greater Vancouver Board of Trade, Industrial, Metro, The Study, Data, Intensification, Growth, City, Bunt, Collection, Communication, Property management, Tunnel, Fraser Valley, Beedi, Study, Metro Vancouver Regional District

VANCOUVER, British Columbia, Nov. 01, 2023 (GLOBE NEWSWIRE) -- Today, NAIOP, Vancouver Chapter, Bunt & Associates Engineering (Bunt), unveiled a first-of-its-kind report examining the impact of parking supply rates on industrial sites across Metro Vancouver and the Fraser Valley.

Key Points: 
  • VANCOUVER, British Columbia, Nov. 01, 2023 (GLOBE NEWSWIRE) -- Today, NAIOP, Vancouver Chapter, Bunt & Associates Engineering (Bunt), unveiled a first-of-its-kind report examining the impact of parking supply rates on industrial sites across Metro Vancouver and the Fraser Valley.
  • The Metro Vancouver/Fraser Valley Industrial Parking Study (The Study) examined more than 60 sites across Metro Vancouver and the Fraser Valley to highlight inefficiencies in existing systems and recommend optimal parking supply rates.
  • The Study is a follow-up report to a study drafted by NAIOP and the Greater Vancouver Board of Trade on the Economic Impact Study of the Critical Shortage of Industrial Land in Metro Vancouver as well as a presentation by NAIOP to Metro Vancouver on the Intensification of Industrial Lands in 2019.
  • To learn more about the Vancouver Chapter of NAIOP and Bunt & Associates Engineering, visit naiopvcr.com and bunteng.com .

Fraser Valley market balanced, as demand softens and prices edge lower

Retrieved on: 
Wednesday, October 4, 2023
Benchmark, Single-family detached home, Cryptocurrency, Property management, Fraser Valley

SURREY, British Columbia, Oct. 04, 2023 (GLOBE NEWSWIRE) -- Continued slowing sales and a healthy rise in new listings in September has brought the Fraser Valley housing market into balance.

Key Points: 
  • SURREY, British Columbia, Oct. 04, 2023 (GLOBE NEWSWIRE) -- Continued slowing sales and a healthy rise in new listings in September has brought the Fraser Valley housing market into balance.
  • The Fraser Valley Real Estate Board recorded 1,100 sales on its Multiple Listing Service® (MLS®) in September 2023, a decrease of 13.6 per cent compared to August.
  • The market is considered balanced when the sales-to-active-listings ratio is between 12 per cent and 20 per cent.
  • Benchmark prices in the Fraser Valley dipped compared to last month with losses of less than one per cent across all property types.

Cleanfarms is Collecting Unwanted Agricultural Pesticides and Old Livestock/Equine Medications in two BC Regions this Fall

Retrieved on: 
Thursday, September 21, 2023
Langley, DIN, Partnership, NOT, Duncan, Pest control, Aerosol, Poultry, Horse, Formaldehyde, Farmer, Crop protection, Livestock, Fraser Valley, Nitric acid, Terralink International, Delta, Pest Control Products Act, Pesticide, Collection, Division, Needle, AG, Cattle, Interior, Farm, Goat, Agriculture, Nightclub, Reinsurance, Okanagan, Kootenay

LETHBRIDGE, Alberta, Sept. 21, 2023 (GLOBE NEWSWIRE) -- This fall, farmers in British Columbia on Vancouver Island and in the Fraser Valley can safely dispose of unwanted agricultural pesticides and old, obsolete livestock and equine medications through a Cleanfarms program.

Key Points: 
  • LETHBRIDGE, Alberta, Sept. 21, 2023 (GLOBE NEWSWIRE) -- This fall, farmers in British Columbia on Vancouver Island and in the Fraser Valley can safely dispose of unwanted agricultural pesticides and old, obsolete livestock and equine medications through a Cleanfarms program.
  • Cleanfarms is operating the collection events at three municipal depots on Vancouver Island and four ag retailer locations in the Fraser Valley.
  • Since the program began, more than 4,200 tonnes of unwanted pesticides and 67.3 tonnes of obsolete farm animal (cattle, horses, goats, poultry) health medications have been collected across Canada.
  • Next fall (2024), events will return to the Okanagan, Interior and Kootenay regions and then come back to Vancouver Island and the Fraser Valley in 2026.

Fraser Valley real estate sales dip in August; prices hold steady

Retrieved on: 
Tuesday, September 5, 2023
Benchmark, Multiple listing service, Single-family detached home, Housing, Cryptocurrency, Arms industry, Property management, Fraser Valley

The Fraser Valley Real Estate Board recorded 1,273 sales on its Multiple Listing Service (MLS®) in August 2023, a decrease of 6.9 per cent compared to July.

Key Points: 
  • The Fraser Valley Real Estate Board recorded 1,273 sales on its Multiple Listing Service (MLS®) in August 2023, a decrease of 6.9 per cent compared to July.
  • “Many buyers are in “watchful waiting” mode as they hold off on decisions in anticipation of potential further rate changes,” said Narinder Bains, Chair of the Fraser Valley Real Estate Board.
  • Benchmark prices in the Fraser Valley, remained relatively unchanged compared to last month with gains of less than one per cent across all property types.
  • The Fraser Valley Real Estate Board is an association of 5,105 real estate professionals who live and work in the BC communities of Abbotsford, Langley, Mission, North Delta, Surrey, and White Rock.

Seasonality, interest rates temper sales in the Fraser Valley

Retrieved on: 
Wednesday, August 2, 2023
Benchmark, Single-family detached home, Fraser Valley, Sale, Auction, Cryptocurrency, Property management

SURREY, British Columbia, Aug. 02, 2023 (GLOBE NEWSWIRE) -- After five months of successive increases, real estate sales in the Fraser Valley dropped in response to a combination of continued rising interest rates and the summer sales cycle.

Key Points: 
  • SURREY, British Columbia, Aug. 02, 2023 (GLOBE NEWSWIRE) -- After five months of successive increases, real estate sales in the Fraser Valley dropped in response to a combination of continued rising interest rates and the summer sales cycle.
  • The Fraser Valley Real Estate Board processed 1,368 sales in July on its Multiple Listing Service® (MLS®), a decrease of 29.3 per cent below June, but still 37.8 per cent above July 2022.
  • “Summer is typically a slower period for the real estate sector and the higher interest rates are contributing to the market slowdown,” said Narinder Bains, Chair of the Fraser Valley Real Estate Board.
  • The Fraser Valley Real Estate Board is an association of 5,100 real estate professionals who live and work in the BC communities of Abbotsford, Langley, Mission, North Delta, Surrey, and White Rock.

Low supply continues to impact home pricing in the Fraser Valley: Sales increasing despite rate hikes

Retrieved on: 
Wednesday, July 5, 2023
Benchmark, Single-family detached home, Housing, Cryptocurrency, Property management, Fraser Valley

In June, the Fraser Valley Real Estate Board (FVREB) processed 1,935 sales on its Multiple Listing Service® (MLS®), an increase of 51.1 per cent compared to June 2022 and a 13.1 per cent increase compared to May.

Key Points: 
  • In June, the Fraser Valley Real Estate Board (FVREB) processed 1,935 sales on its Multiple Listing Service® (MLS®), an increase of 51.1 per cent compared to June 2022 and a 13.1 per cent increase compared to May.
  • “As seen in recent months, prices continue to trend upward, with lack of supply and high demand for housing,“ said Narinder Bains, Chair of the Fraser Valley Real Estate Board.
  • “A number of factors are at play in the Fraser Valley market, from low supply to unprecedented interest rates – the highest in more than 20 years,” said Board CEO, Baldev Gill.
  • The Fraser Valley Real Estate Board is an association of 5,057 real estate professionals who live and work in the BC communities of Abbotsford, Langley, Mission, North Delta, Surrey, and White Rock.