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A New Sales Record Has Been Achieved By The Jackie Goodlet Team Who Work Out Of The Whitby Office And Specializes In High End Resale And New Home Sales. According To Broker Dave Pearce The Jackie Goodlet Team Wrote More Transactions Than Anyone Else In The 30 Year History Of Our Firm. Their 255 Transactions Had A Total Volume Of More Than $185,000,000 (185 Million). With Over 25 Years Experience In The Business The Jackie Goodlet Team Has Acquired A Wealth Of Knowledge In All Areas Of Real Estate Including Resale, New Builds, Cottages, Lease, Condos, Vacant Land, Investment And Commercial Properties. With Exceptional Negotiating Skills We Are Confident We Can Save You Time And Money On All Your Real Estate Endeavours. We Look Forward To Hearing From You And Your Referrals Are Always Welcome And Rewarded!

Tuesday, July 9, 2019

Home sales remain well below historical levels in the Fraser Valley

Home sales in the Fraser Valley totaled 1,306 in June, the second lowest for the month since 2000.

It meant that sales lagged the 10-year average for June by 29.3% and were down 13.9% month-over-month and down 10.1% year-over-year according to a new report from the Fraser Valley Real Estate Board.

But it wasn’t just buyers that remained cautious as new listings were down 20.7% from May and down 10.5% from June 2018 to a total 2,810. That’s 9.6% below the 10-year average for June listings.

Inventory was up 19.3% year-over-year and up 0,1% from May to a total 8,516 active listings.

“The Fraser Valley market is still adjusting to the federal government’s new mortgage requirements and to the provincial government’s speculation and vacancy taxes,” said Darin Germyn, the board’s president. “We’re seeing historically low levels for home purchases in our region, and yet at the same time we’re seeing some prospective sellers holding back on listing their homes; waiting to see what the market will do.”

The number of active listings and a reduction in prices of a typical home of around 6-10% year-over-year creates an opportunity for buyers, Germyn added, especially with interest rates on hold.

HPI® Benchmark Price Activity

•Single Family Detached: At $960,100, the Benchmark price for a single-family detached home in the Fraser Valley decreased 0.4% compared to May 2019 and decreased 6.1% compared to June 2018.
•Townhomes: At $525,200, the Benchmark price for a townhome in the Fraser Valley in the Fraser Valley increased 0.5% compared to May 2019 and decreased 5.9% compared to June 2018.
•Apartments: At $409,800, the Benchmark price for apartments/condos in the Fraser Valley decreased 1.7% compared to May 2019 and decreased 9.6% compared to June 2018.

MBN

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