Detached Homes are still seeing the biggest price rises, they are up more than 38 percent since last year, reports the Fraser Valley Real Estate Board.
Demand in the Fraser Valley continued to boom in May, with real estate sales once more the highest ever recorded for that month. The total sales represented an increase of 47.8 percent compared with last year. This was still a drop of 3.3 percent compared to April 2016 and not close to the high in March 2016.
Detached homes were up 29.2 percent over last year. The average number of days on the market to sell a detached home in May 2016 was 16 days.
Townhouse, duplex, and row home sales were up 56.1 percent over last year, however, the total transactions in May were down 2.2 percent compared with April 2016.
The biggest mover in the market was condo-apartment sales which were up 112.6 percent over last year. Condos were the only housing type to increase month over month at 4.7 percent above April 2016.
See the full article at REW.ca