April 2020 Overview of the Fraser Valley Real Estate Board Stats
With the required protocols in place due to the pandemic, there was a decline in real estate activity in April due to COVID-19. The Fraser Valley Real Estate Board reported a 52% sales decrease compared to March 2020 and a 50% decrease compared to April of last year.
Here are some other highlights from the April 2020 report.
Detached, Townhouse and Apartment Sales Decrease
A total of 266 detached homes were sold in April 2020, a 45.6% decrease compared to April 2019. Townhomes had a 47.2% decrease compared to April of last year with only 200 sold townhomes. Apartments had the largest decrease in sales with a total of 150 sold, which is a 54.7% decrease from March 2020 and a 59.9% decrease from April 2020.
Median Prices Have Decreased
A positive outcome for those on the market and those thinking about buying; median prices have decreased in all housing areas! Compared to last month, detached homes saw a median price decrease of 3%, townhomes down 2.2%, and apartments with a decrease of 3.9%.
Realtors deemed “Non-Health Essential Service”
As Realtors, the number one priority is the health and safety of our clients. There will always be a need for homes, whether you are buying or selling. However, necessary precautions are in place to mitigate the spread of COVID-19, such as virtual tours, private showings with a limited number of people, and inspections being done from a photo/video feed.
With median rates decreasing, house hunting has never been better than now!! 🏡
Call us to take advantage of a more affordable market!
THORNE MAISEY BONGERS REAL ESTATE GROUP
RE/MAX LIFESTYLES REALTY
#Langley #FortLangley #Aldergrove #WalnutGrove