Desibuzzbc
Spend time learning about the different aspects of that topic from experts in the field.
Desibuzzbc
Subscribe Newsletter
  • Home
  • News
    • Canada
    • Local
    • Education
    • Crime
    • Indo Canadian
    • World
    • Desibuzz Columnists
    • VIPs
  • Politics
    • Corruption
  • Arts & Entertainment
    • Concerts
    • Movies & Television
    • Music
    • Theatre
    • Dance
  • Life
    • Beauty
    • Jokes
    • Fashion
    • Health
    • Relationships
  • Business
  • Events
  • Food
  • Photo Gallery
  • Sports
  • More
    • The Allu
    • The Screening Room
CanadaLocalNews

Home Sales Rise In Fraser Valley After Five Months Of Falling Sales

  • By Desibuzzbc
  • November 11, 2024

Home sales in the Fraser Valley increased for the first time in five months following a sizable interest rate cut by the Bank of Canada in October. The Fraser Valley Real Estate Board recorded 1,330 sales in October, up 35 per cent from September, and 37 per cent year-over-year.

By DESIBUZZCanada Staff

SURREY — Home sales in the Fraser Valley increased for the first time in five months following a sizable interest rate cut by the Bank of Canada in October.

The Fraser Valley Real Estate Board recorded 1,330 sales in October, up 35 per cent from September, and 37 per cent year-over-year.

“After waiting it out on the sidelines for a number of months, buyers seem to be finally responding to the series of successive rate cuts by the Bank of Canada,” said Jeff Chadha, Chair of the Fraser Valley Real Estate Board. “Whether this is an indication of further sales trends, remains to be seen, especially as the feds eye a possible additional cut before year-end.”

New listings declined in October, down 5 per cent to 3,194, but increased 26 per cent year-over-year. Overall inventory dipped in October to 8,799, down three per cent from September, but up 34 per cent over last year. Rising sales and steady inventory levels have the Fraser Valley in a balanced market with a sales-to-active ratio of 15 per cent. The market is considered to be balanced when the ratio is between 12 per cent and 20 per cent.

“October’s healthy sales boost is a welcome development for buyers and sellers alike,” said Baldev Gill, CEO of the Fraser Valley Real Estate Board. “The coming weeks and months will shed more light on whether buyer optimism has returned now that the cycle of interest rate cuts is in full swing.”

Across the Fraser Valley in October, the average number of days to sell a single-family detached home was 34, while for a condo it was 32. Townhomes took, on average, 29 days to sell.

Benchmark prices in the Fraser Valley dipped for the seventh straight month in October, with the composite Benchmark price down 0.7 per cent to $971,700.

Single Family Detached: At $1,488,000, the Benchmark price for an FVREB single-family detached home decreased 0.9 per cent compared to September 2024 and decreased 0.6 per cent compared to October 2023.

Townhomes: At $832,200, the Benchmark price for an FVREB townhome decreased 0.3 per cent compared to September 2024 and decreased 1.4 per cent compared to October 2023.

Apartments: At $543,300, the Benchmark price for an FVREB apartment/condo decreased 0.3 per cent compared to September 2024 and increased 0.1 per cent compared to October 2023.

The Fraser Valley Real Estate Board is an association of 5,257 real estate professionals who live and work in the BC communities of Abbotsford, Langley, Mission, North Delta, Surrey, and White Rock.

About Author / Desibuzzbc

DESIBUZZbc is a leading South Asian news magazine with hard-hitting news, views, entertainment and analysis.

Previous post
Diwali And Bandi Chhore Divas Celebrated At Gurdwara Nanak Niwas
Next post
IHIT Confirms Remains Found In Richmond Was Navdeep Kaur Who Was Murdered

1 Comment

  • binance тркелг
    3 months ago Reply

    Your article helped me a lot, is there any more related content? Thanks!

Leave a Comment Cancel reply

Your email address will not be published.

You Might Also Like

CanadaEducation

KIDSPLAY SPORTS SAY: Over 700 Youngsters Attend The Big Sports Day At BC Place Stadium On Monday from Vancouver’s eastside to fulfill once in a lifetime experience

June 4, 2022
CanadaCrime

Indo-Canadian Man Involved In Tractor Collision In Surrey Following Anti-SOGI Protest Finally Charged

January 11, 2025
CanadaCrime

Conservatives Accuse Trudeau Liberals Of Accepting Donations From “US Drug Enforcement Agency Fugitive” Bakshish Sidhu

September 10, 2021

Recent Posts

  • 01
    CanadaLocal

    Over 40 Canadian Human Rights Groups Condemn Modi G7 Invite Citing Transnational Repression

    June 18, 2025
  • 02
    CanadaLocal

    Canada Introduces Citizenship By Descent Legislation To Even The Field For Foreign Born Canadians

    June 18, 2025
  • 03
    CanadaCrime

    Rampant Extortion Threats In Surrey Leads To Police Agencies Partnering To Stop The Criminal Racket 

    June 18, 2025
  • 04
    CanadaLocal

    Powerlifter Sumeet Sharma Raises Funds For Lapu Lapu Tragedy Victims

    June 18, 2025
  • 05
    CanadaLocal

    DISGRACEFUL: US Vetoes UN Security Council Resolution Calling For Unconditional Ceasefire In Gaza

    June 18, 2025
business

Business

fashion

Fashion

sports

Sports

trends

Trends

Desibuzzbc
  • Home
  • About Us
  • Advertise
  • Contact
  • Privacy Policy
  • Terms and Conditions
  • Disclaimer
Copyright © 2025 desibuzzbc | All Rights Reserved.
Subscribe Newsletter
  • Home
  • News
    • Canada
    • Local
    • Education
    • Crime
    • Indo Canadian
    • World
    • Desibuzz Columnists
    • VIPs
  • Politics
    • Corruption
  • Arts & Entertainment
    • Concerts
    • Movies & Television
    • Music
    • Theatre
    • Dance
  • Life
    • Beauty
    • Jokes
    • Fashion
    • Health
    • Relationships
  • Business
  • Events
  • Food
  • Photo Gallery
  • Sports
  • More
    • The Allu
    • The Screening Room

Start typing and press Enter to search