The latest batch of government statistics adds more evidence to suggest the 15% tax on foreign buyers is having a significant effect on the level of non-Canadian purchasers in the market.
The market speed for The Fraser Valley is 32% which officially makes it a seller’s market.
Reasons why:
SALES- Total sales last month were 1,298, which is 16% less year over year & 12% greater month over month.
SALES PRICE- The median sale price was $585,000 which is a 19% increase over this time last year and a 1% decrease over the previous month.
FIND OUT YOUR MARKET SPEED– Learn the official market speed in your neighbourhood and price point by requesting a free Fraser Valley snap stats report from us!
ACTIVE LISTINGS– There were 4,093 active listings last month which is a 6% decrease over this time last year and an 8% decrease month over month.
DAYS ON THE MARKET– A property was on the market for 19 days before selling which is 14% less than one year ago and 19% more than the previous month.
