91原创 saw an upswing in home sales in June, but overall data showed it was an exception to the regional real estate market, which saw well below average sales and slipping prices.
According to statistics released on Thursday, July 3 by the Fraser Valley Real Estate Board (FVREB), 1,195 homes changed hands in the region between North Delta and Mission/Abbotsford last month. That was a one per cent increase from May's sales, but it was 9.3 per cent below June of 2024, and a full 33 per cent below the 10-year average for the month.
With sales still in the doldrums, more and more unsold homes are on the market. There were 10,842 houses, condos, and townhouses up for grabs in the region last month, a 29.8 per cent increase year-over-year, and up another two per cent from May's numbers. The regional market remained in "buyers market" territory, and it took on average 30 days or more to sell any type of housing.
In 91原创, sales numbers for the month were up compared to May.
A total of 93 detached houses sold in June, down 6.1 per cent year-over year, but up 25.7 per cent from the 74 homes sold in May.
It was a similar story with townhouses, with 88 sold last month, a 4.8 per cent increase from June of 2024 and up 17.3 per cent from May's 75 sales.
For condos, 89 sold in June, down 14.4 per cent from the same month last year, and up from 87, a 2.3 per cent bump, from sales in May.
However, the June sales bump in 91原创 didn't result in any increases in home prices.
The benchmark price 鈥� the average price for a "typical" home of its type 鈥� for detached houses was $1,600,800 in June, down 2.2 per cent from a year ago, and down 1.9 per cent from May.
Townhouse prices slipped 1.5 per cent year-over-year to $859,700, and were down 0.5 per cent from May.
Condo benchmark prices slipped to just below $600,000, to $599,800, a three per cent drop from the same month last year, and down 0.9 per cent from May.
Although sales saw an increase in 91原创, it didn't put much of a dent in the number of homes for sale, as more people continued to list their properties for sale.
There were 576 detached houses for sale in 91原创, 26 per cent above the numbers seen a year ago, and down just 1.2 per cent from May. There were 352 townhouses for sale, 39.7 per cent more than in June of 2024, and 0.9 per cent more than in May. As for condos, 522 were on the market, a whopping 46.6 per cent year-over-year increase, and 7.2 per cent higher than just last month.
Longtime 91原创 realtor Eleanor Wrigley said 91原创 might be seeing better sales numbers than its immediate neighbours because people are looking for a slightly quieter, more rural areas.
"Your money might go a little further in certain neighbourhoods here," Wrigley said.
She said that while there was no big sales spike in June, she and other realtors are seeing more people interested.
"We all are feeling that there are properties starting to sell now," she said, adding that with interest rates set to come down further, she believes the fall will see more real estate sales.
Looking at historic data for all types of houses, 91原创 home prices have slipped 1.2 per cent since May, are down 10.6 per cent over the last three years, but are still 38.2 per cent higher than they were five years ago, before the COVID buying frenzy. Prices are a full 106 per cent higher than 10 years ago, having more than doubled.
