April, 2011: Real Estate Market Update

APRIL HOME SALES RETURN TO BALANCE IN FRASER VALLEY (Surrey, BC) – The Fraser Valley Real Estate Board processed 1,516 property sales on its Multiple Listing Service (MLS®) in April, a decrease of 15 per cent compared to 1,793 sold during April of last year, and a decrease of 17 per cent compared to March’s 1,818 sales. Sukh Sidhu, president of the Board, explains, “April’s sales are pretty typical for that month over the last two decades with the 20-year average being 1,580, but softer than what we saw earlier this year. “The Fraser Valley market was busier than normal in February and March due in part to the tighter credit conditions that kicked in on March 18, plus you add into the mix a focus on the federal election and you get an April that trends back to normal conditions.” However, Sidhu says certain individual markets within Fraser Valley have remained active. “For the third month in a row, sales of single detached homes in White Rock/South Surrey have accounted for almost a quarter of all detached sales in the region compared to the 15 per cent share that area typically garners.” “Benchmark prices of detached homes in that area have increased by 11 per cent in the last three months compared to 3.9 per cent across the Fraser Valley as a whole, emphasizing the need for local expertise no matter where you’re thinking of buying or selling.” April finished with 5 per cent more active listings on the MLS® than it had in March – 9,697 compared to 9,228 – however, 9 per cent fewer than the 10,635 listings that were active during April of 2010. The Board received 2,918 new listings in April, a decrease of 14 per cent compared to March and a decrease of 22 …

8134 Crosby St., Mission, BC

Asking:  $415,000 Come see this fabulous family home on a quiet street in Mission’s neighbourhood! Enjoy the private, level, fully fenced yard and central A/C this summer! Lots of outdoor storage space including a 1 year new shed and recessed storage units in the fantastic covered patio. Upgrades include new energy efficient vinyl windows, new kitchen featuring slate flooring, tile backsplash and new appliances. The central living area is covered in gorgeous cherry hardwood flooring including the bright living room, family room and dining room. Four generous sized bedrooms and three full bathrooms are more then enough space for the average family. This home has been meticulously kept and it shows. Come see it today!