METRO VANCOUVER – The benchmark price for a detached home in the Fraser Valley region fell slightly in November, according to the latest information released today.
According to the Fraser Valley Real Estate Board, the price for a detached home fell 0.2 per cent to $504,848 from the October figures. The price, however, is still 1.4 per cent higher than the benchmark price last year.
The picture is reversed when it comes to sales, the data shows. Sales were up seven per cent when compared with October, but down 29 per cent when compared with numbers from last year.
A total of 1,084 sales were processed in the region by MLS, the board said.
“It’s not unusual to see a dip in new listings at this time of year, however the level of home-buying interest, in particular for homes priced competitively, is stronger than we expected given we’re approaching the holiday season.," said board president Deanna Horn in a written statement. "That combination continues to have a stabilizing effect on home prices in the Fraser Valley.”
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