(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

‘Speed dating’ all-candidates meeting in Surrey zeroes in on homelessness and housing

Candidates mingle with residents at tables with various topics, in 10-minute intervals

South Surrey boy, 10, to help kids in need

Ronin Bulmer is going door-to-door asking for donations

Partial lane closures for Port Mann Tuesday, Wednesday nights

Drivers can expect delays during maintenance work: Mainroad

South Surrey pet blessing event to be held Sunday

All animals welcome to be blessed by Peninsula United Church

North Delta library featuring local artist in new exhibit

Internationally-renowned artist Jarnail Singh will have his art on display until Nov. 22

Raising of Peace Arch Park totem corrects a ‘historic wrong’

Haida pole at international border was restored and raised at instigation of SFN

Rattie scores 3 as Oilers blank Canucks 6-0

Vancouver slips to 1-5 in exhibition play

Veterans Affairs ordered to take second look before supporting vets’ relatives

Liberal government ordered officials to adopt a more critical eye

Dead B.C. motorcyclist was member of group that raced down mountain road

Some group members record their rides on Strathcona Parkway and post times to page

Indigenous athletes in spotlight at BC Sports Hall of Fame

New gallery to feature Carey Price, Kaila Mussel and Richard Peter

B.C. couple who went missing on flight from Edmonton named by family

Family released a statement Wednesday saying they’re still intent on finding the two-seater plane

Abbotsford raccoon dies from injuries suffered in a trap

Wildlife protection group offering $1,000 reward for information about incident

VIDEO: A close look at what you were breathing during the B.C. wildfire season

Electron microscope images show soot and tar particles generated by worst B.C. fire season

B.C. woman donates $250,000 to ovarian cancer research for friends

Two of Patty Pitts’s friends passed away from the disease within a year

Most Read

l -->