(Black Press Media files)

Fraser Valley sales, home prices keep on dropping

Real estate sales hit their lowest point in 2018

Real estate sales dropped to their lowest level in the Fraser Valley this year as home prices continued to drop last month.

According to figures released by the Fraser Valley Real Estate Board Wednesday, sales were down by 39 per cent compared to August 2017.

Detached home sales continued to make up more than 50 per cent of all houses sold.

READ MORE: B.C. real estate sales slow down for the summer, group says

READ MORE: Housing tops worry list for more than half in Metro Vancouver: poll

READ MORE: Average millennial could wait 150+ years to buy home in one B.C. city: report

Benchmark prices for a detached home declined to $1,008,700, a 0.9-per-cent decrease compared to July and a 2.9-per-cent increase compared to last year.

Benchmark prices for townhouses fell to $548,300. That’s down 1.7 per cent since last month, but up 11.5 per cent compared to last August.

Finally, benchmark apartment prices fell by 1.6 per cent to $443,200 compared to last month, but rose by 26.9 per cent since last year.

Across all homes, north Surrey saw the biggest hike in prices compared to last August, climbing 21.6 per cent to $808,400.

The smallest shift was in south Surrey and White Rock, where prices stayed at $997,800 – identical to August 2017.

Mission saw the biggest hike in benchmark apartment prices, with a 37.8-per-cent uptick to $337,200, despite remaining the cheapest condos outside of Abbotsford.


@katslepian

katya.slepian@bpdigital.ca

Like us on Facebook and follow us on Twitter.

Just Posted

Chilliwack man feeling helpless about puppy stolen while at church

Evidence of neighbour trespassing and accusing him of dog neglect not enough for RCMP

UPDATE: Missing Chilliwack man has been found

Chilliwack RCMP is thanking the public for keeping an eye out

UPDATED: Chilliwack councillor’s expenses being sent to the RCMP

Decision to have expenses audited and shared with RCMP taken at special meeting of council

Risk of thunderstorm this afternoon for Vancouver Island and Lower Mainland

A special weather statement calls for heavy rain and wind over the next 48 hours

Update: Search called off for missing plane between Edmonton and Chilliwack

Search efforts were concentrated along the Highway 5 corridor between Valemount and Kamloops

VIDEO: Neighbours fear impact of B.C. tent city residents

Greater Victoria residents opposed to campers voice concerns at provincial campground

B.C. premier apologizes for removal of 1950s totem pole at Canada-U.S. border

First Nations say pole was raised at Peace Arch but removed to make way for tourism centre

Tornado touches down in Ottawa and Gatineau, Que.

Environment Canada says cars and homes have been damaged by severe thunderstorms and high wind gusts

An unexpected sight: Bear spotted eating another bear in central B.C.

Cheslatta Carrier Nation Chief finds bear eating another bear’s carcass

Free vet clinic caters to pets of homeless, low income people

The first such clinic in Langley will take place later this month.

RCMP confirm death of missing BC teen Jessica Patrick

No details on cause were given. Case is under criminal investigation and police are asking for tips.

Extradition hearing set for Lower Mainland developer accused of fraud

Mark Chandler will go before the B.C. Court of Appeals early next year.

CUTENESS OVERLOAD: 2 sea otters hold hands at the Vancouver Aquarium

Holding hands is a common – and adorable – way for otters to stay safe in the water

B.C. teen with autism a talented guitarist

Farley Mifsud is gaining fans with every performance

Most Read