The Fraser Valley Real Estate Board’s stats for October show a continued divergence between attached and detached homes. The relative affordability of multi-family homes has resulted in another month of strong sales and price escalation while detached homes slowed once again. Attached homes now represent 56% of the month’s total sales, up from 53% in September.
The benchmark price for a townhome and an apartment climbed a further 0.8% and 3.1% respectively, month-over-month, with almost constant days on market and reductions in inventory. The attached segment remains a seller’s market.
The detached market continues to soften across the Fraser Valley as the benchmark price fell 0.3% month-over-month and average days on market is up over 30 days now – a 7% increase month-over-month.
What do you think the October stats mean for the Fraser Valley market in 2018? We would love to hear your perspective.
Check out our curated summary of the Fraser Valley Real Estate Board’s October 2017 stats in infographics here.
View the Fraser Valley Real Estate Board’s entire stats package for October 2017 here.
This representation is based in whole or in part on data generated by the Fraser Valley Real Estate Board which assumes no responsibility for its accuracy.