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SURREY, BC – In August, sales on the Fraser Valley Real Estate Board’s Multiple Listing Service® (MLS®) ranked the

third lowest for the month in the last decade – after 2008 and 2010.

Last month’s 1,073 property sales represent a 20 per cent decrease compared to the 1,341 sales during August of

last year and 23 per cent fewer than in July. In 2008, the Board processed 910 sales in August, and in 2010, 997.

“It was a slower August, but nowhere near historical lows for our Board so it’s too soon to tell if it’s a sign of a


term trend or if buyers and sellers in the Fraser Valley finally enjoyed a bit of summer,” explains Scott

Olson, FVREB president. “We do know that our economy currently remains fundamentally strong with stable

mortgage and employment rates; and, our region in particular has some of the fastest growing communities in the

Lower Mainland.”

Olson says, “And we’re seeing evidence of that growth in the sales of more affordable, attached properties in the

Fraser Valley. For example in August, apartment sales went up significantly in Central Surrey and Abbotsford and

remained on par in North Surrey and Cloverdale compared to last year, suggesting that first

time buyers are

continuing to find opportunities.”

Similar to sales, the Board saw a decrease in new listings. We received 2,406 in August, a decrease of 8 per cent

compared to August 2011 and 18 per cent less than we received in July. This caused the number of active listings

to decrease month

overmonth, however the 10,366 active listings at month end still remained 3 per cent higher

than the 10,074 listings available in August 2011.

Across the Fraser Valley, the benchmark price of a single family detached house in August was $551,400, an

increase of 3.5 per cent compared to $532,700 in August 2011.

For townhouses, the benchmark price in August was $303,000, a decrease of 0.7 per cent compared to $305,200

during the same month last year. The benchmark price of apartments in Fraser Valley in August was $206,600, an

increase of 3.4 per cent compared to $199,800 in August 2011.

Olson adds, “Overall, we’re seeing prices stay resilient, however in almost half of our communities, the threemonth

trend is showing a decrease in prices while the other half is showing increases so for a detailed market

analysis, check with your local REALTOR®.”

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The face of Whalley is changing rapidly; if you have not been there for a while you will be surprised. It’s worth a visit ever just to see the new library.

 High rises are popping up all over the place.

2 more towers at Park Place are completed and being lived in, Quattro 3, which is the first over 4 story wood framed building in Surrey if not the province, is finished and people have moved in, Ultra a new 40 story tower is well under construction and Waves with their very clever movable wall systems seems to be pre selling well. A is the probability of 2 or more in the area as there is a rezoning  application on a piece of land at university drive and 105 and a proposed 56 story tower between the new city hall and the skytrain line.

Verve a low rise building close to is pre selling and there are other new and nearly new units for sale in the area.

Oh and while your there check out the Roundup café a slice of Surrey history on the corner of 104th and King George next to the TD bank great food and a good price.


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Please visit our Open House at 212 15388 101ST AVE in Surrey.
Open House on Sunday, September 23, 2012 2:00 pm - 4:00 pm
Location! Location! Priced to sell this gorgeous 2 bedroom & 2 full bathrooms and den unit in the prestigious award winning ONNI built ESCADA. The bedrooms are separate & both have walk-in closets, high grade laminate flooring, tiled entry& kitchen and bathrooms. granite counter tops in gourmet kitchen with stainless steel appliance. . Only 4 yrs old with the balance of 2-5-10 New Home Warranty. Minutes away from Guildford Mall, T&T market, schools Guildford rec center and transit. Easy access to Highway #1. Perfect for 1st time buyers or investors (rentals allowed & pet friendly).
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I have sold a property at 44 9273 122ND ST in Surrey.
Kensington Gate(a gated community): A very quiet upper level of carriage style town home, only 2 upper units in this building. Very bright, lots of natural light, with large kitchen and eating area. Spacious living and dining room with gasfireplace. The 2nd bedroom/den/hobby room has custom made French doors, laminate flooring in the living areas and a large master bedroom overlooking the central green area. This home is move in ready with a laundry room that has lots of space for storage too. Clubhouse includes a large meeting party room with kitchen facilities and several games tables, pool, whirlpool and a library. Well run complex with recent new roofs. Small pets ok. 45+. Quick possession possible.
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