(Black Press Media files)

Fraser Valley sales, home prices keep on dropping

Real estate sales hit their lowest point in 2018

Real estate sales dropped to their lowest level in the Fraser Valley this year as home prices continued to drop last month.

According to figures released by the Fraser Valley Real Estate Board Wednesday, sales were down by 39 per cent compared to August 2017.

Detached home sales continued to make up more than 50 per cent of all houses sold.

READ MORE: B.C. real estate sales slow down for the summer, group says

READ MORE: Housing tops worry list for more than half in Metro Vancouver: poll

READ MORE: Average millennial could wait 150+ years to buy home in one B.C. city: report

Benchmark prices for a detached home declined to $1,008,700, a 0.9-per-cent decrease compared to July and a 2.9-per-cent increase compared to last year.

Benchmark prices for townhouses fell to $548,300. That’s down 1.7 per cent since last month, but up 11.5 per cent compared to last August.

Finally, benchmark apartment prices fell by 1.6 per cent to $443,200 compared to last month, but rose by 26.9 per cent since last year.

Across all homes, north Surrey saw the biggest hike in prices compared to last August, climbing 21.6 per cent to $808,400.

The smallest shift was in south Surrey and White Rock, where prices stayed at $997,800 – identical to August 2017.

Mission saw the biggest hike in benchmark apartment prices, with a 37.8-per-cent uptick to $337,200, despite remaining the cheapest condos outside of Abbotsford.


@katslepian

katya.slepian@bpdigital.ca

Like us on Facebook and follow us on Twitter.

Just Posted

South Surrey church members ‘praying for accused mother… for the whole process’

Lisa Batstone’s second-degree murder trial continues this week in B.C. Supreme Court

City will ask Fraser Health to remove pay parking at SMH, Surrey councillor says

Surrey’s new council has already made parking free on neighbouring city streets

Health and Technology District breaks ground on new building

City Centre 3 is the third of eight planned buildings: Lark Group

Spawning salmon returning to North Delta’s Cougar Creek

It’s early in the season, but the streamkeepers are hopeful it could be a good year for returns

Surrey White Rock Ringette Association ‘excited’ about world championships coming to Lower Mainland

Ringette Canada says the sport has reached record registration numbers

Winter weather hits parts of Canada

As some parts of the country brace for cold, parts of B.C. remain warmer than 10 C

Giants serve up major defeat to Pats at Langley Events Centre

On the ice, Vancouver G-Men wrap up home stand with a 10-4 win over Regina Friday night.

Canada’s health system commendable overall but barriers to care remain: UN

The United Nations says Canada’s health care system is “commendable” overall but vulnerable groups still face barriers to quality care.

Unique technology gives children with special needs more independent play

UVic’s CanAssist refined seven prototypes aided by $1.5M government contribution

Kelly Ellard’s boyfriend has statutory release revoked

Darwin Duane Dorozan had several parole infractions that found him ‘unmanageable’

New chair of Metro Vancouver board is Burnaby councillor

The 40-person board is made up of elected officials from 21 cities and one First Nation

Doctor’s note shouldn’t be required to prove you’re sick: poll

70% of Canadians oppose allowing employers to make you get a sick note

German-born B.C. man warns against a ‘yes’ vote on proportional representation

Agassiz realtor Freddy Marks says PR in his home country shows party elites can never be voted out

Fashion Fridays: 5 coats you need this winter!

Kim XO, lets you know the best online shopping tips during Fashion Fridays on the Black Press Media Network

Most Read

l -->