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This fall’s Fraser Valley real estate market trumps 2012!

Blog, Featured Blog Posts | October 24, 2013

This fall’s Fraser Valley real estate market trumps 2012!

In the real estate world, we compare sales in each season and year by the Sell Through Rate (STR). I’m excited to share that the STR numbers for September 2013 have increased in comparison to September 2012 (with the small exception of condos in Maple Ridge and detached homes in White Rock). This means that Fall 2013’s Fraser Valley real estate market is stronger than it was in fall of 2012.

Overall, the number of homes available for sale is dropping while the demand to buy a house continues to grow. As a result, the real estate market is soft/balanced in the majority of the Fraser Valley.

The most active real estate market in the Valley is Langley, with Clayton Heights and Cloverdale coming in at a close second. Here are some of the trends we’ve seen in those two neighbourhoods:

  • The strongest STR numbers for detached homes were in Langley. In September, their STR was 15%, which was down from 17% in August.
  • The STR of townhomes in Langley was an incredible 21% this September. In August, the STR of Langley townhomes was 17%.
  • Clayton Heights/Cloverdale has the strongest STR numbers for the condo market: 13% in September versus 11% in August.

It will be interesting to see if these positive numbers continue through the rest of the fall. As they say, only time will tell!

If you have any questions regarding the market please feel free to call me on my cell at 604-807-4366 or email me at randy@eximus.com.

 

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