While sales reached slightly above the ten-year average for the month, a lack of sufficient inventory in the Fraser Valley continued to put pressure on homebuyers in March.
The Fraser Valley Real Estate Board processed 1,664 sales of all property types on its Multiple Listing Service® (MLS®) in March, a decrease of 24.8 per cent compared to the 2,213 sales in March of last year, and a 20.1 per cent increase compared to the 1,385 sales in February 2018. The ten-year average for sales in the Fraser Valley in March is 1,658 transactions.
Of the 1,664 sales processed last month 410 were townhouses and 460 were apartments, together representing 52 per cent of all transactions in March.
Active inventory for the Fraser Valley finished at 4,796 listings