Fraser Valley Real Estate Board - Stats for February 2020

Posted by Mir Khan on Tuesday, March 3rd, 2020 at 8:00am.

Stats from February 2020



To view the YouTube stats video, please click here or click below:


The Real Estate market in the Fraser Valley has been significantly better since January 2020 at sales ratio of 24%, and now in February 2020 at sales ratio of 30% -- overall (for all property types) -- now in a strong 'Sellers Market'.

Looking at Surrey, BC, Canada (for detached homes); the Jan 2020 sales ratio was at 21% -- just at 'Sellers Market'; and, for Feb 2020 sales ratio at 31% -- even stronger 'Sellers Market'. The average sales price slightly increased from Jan 2020 to Feb 2020 for detached homes in Surrey, BC, by 2% averaging at: $1,050,000. The inventory slightly increased in Feb by 4% -- to 588 homes listed; and the sales WHOPPING 52% MORE in comparison to Jan 2020 for all detached homes in Surrey, BC -- to 182 SOLDS in Feb 2020. Lastly, the Days-On-Market (DOM) dropped by 25 days, from Jan 2020 to 18 Days-On-Market (DOM). For the most part, we are in a STRONG 'Sellers Market' (ask me what this means) at 31% Sales Ratio for the entire Surrey detached single family homes.

The Detached Homes (Single Family Homes) in Sullivan Station Community - market has picked up since Jan 2020 at Sales Ratio of 23%; to quite STRONG Sales Ratio at 36% -->  a Strong 'Sellers Market'.

“We are seeing more traffic at open houses, more multiple offers and a slight increase in year‐over‐year prices, so if
you’ve been thinking about selling, talk to your local REALTOR® to find out if it’s the right time for you” (Source: News Release Fraser Valley Real Estate Board, March 3, 2020)

Please contact me at: (778) 558-4427 or email me at: mir@mirkhan.ca for full details and understanding of how the market is doing, right now. I can share the most recent Fraser Valley and the Greater Vancouver Stats with you, if you are looking to selling your home. Please call us; my Team & I will be glad to be of service. :-)

Feel free to leave to comment or ask me something by entering it below 'Leave a Comment' box ...

Thanks for reading & viewing.

Mir Khan
CEO/President
Mir Khan Personal Real Estate Corporation
Certified International Property Specialist, International Realtor Member
Century 21 AAA Realty Inc.
(778) 558-4427
mir@mirkhan.ca
www.MirKhan.ca

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