Mission, Cloverdale among 10 hottest real estate markets in Fraser Valley

No real estate slowdown for Fraser Valley after strong May and record-breaking April

Jorda Maisey

Real estate continues to be a highly sought after asset in the Fraser Valley, with May sales following up strongly on a record-breaking April.

While foreign buyers are the talk of real estate in the Lower Mainland and blamed for skyrocketing prices, Jorda Maisey, past president of the Fraser Valley Real Estate Board, said overseas capital isn’t behind the Fraser Valley’s hot market.

“Is it foreign buyers? I haven’t experienced that in the areas I’ve been working in,” she said.

It’s locals.

A property listed in south Langley recently drew five back-to-back showings, with only one client coming from outside the Fraser Valley, Maisey said, which has been typical.

In Surrey, the biggest year-over-year price gains have been in the Fraser Heights neighbourhood, with median selling prices hitting $1.2 million, and listed homes lasting on the market for an average of just 12 days.

White Rock remains the most expensive area in the Fraser Valley but price increases haven’t kept pace with other neighbourhoods seeing more sales activity.

The hottest area is Mission in terms of the sheer number of properties changing hands. The median selling price has reached $595,000 and the average home remains on the market for just 14 days, she said.

Home sellers are encouraged to select a new home before cashing in, if they can afford to, Maisey said.

If they can’t, she added, “they know that they could be camping for the summer until they can find something.”

While the market overall hasn’t slowed down, Maisey said she’s noticed prices have dropped on listings in some large, acreage neighbourhoods, and multiple offers have become less frequent.

Asked if a change is on the horizon, Maisey said she doesn’t have a crystal ball.

But looking at the economics, and seeing so many small stores with help wanted signs on the door, she said the market appears healthy.

10 hottest Fraser Valley neighbourhoods for single family homes

(area/median sale price/days on market)

1. Mission, $595,000, 14

2. Cloverdale, $906,000, 10

3. Abbotsford East, $714,000, 9

4. Abbotsford West, $634,000, 9

5. Willoughby, $920,000, 10

6. Fraser Heights, $1.2 million, 12

7. Walnut Grove, $875,000, 11

8. King George corridor, $904,000, 19

9. Langley City, $904,000, 19

10. Clayton, $895,000, 7

• courtesy RE/MAX Little Oak Realty (based on greatest percentage increase of volume and dollar; sales data from May 1 to 26, 2016)

Just Posted

Fees ensure patients have access to parking at SMH, FHA says

Fraser Health Authority hasn’t heard yet from city hall about pay parking at Surrey hospital

Surrey memories: How the ‘IGUISBCSIR’ Facebook page became a hub for anecdotal history

Former Whalley resident Wes Mussato launched the group in 2011, 11 years after he’d moved to Ontario

Delta council votes to eliminate controversial end-of-service benefit

Three current councillors who served on the previous council will still receive lump-sum payouts

White Rock-South Surrey Titans win third straight B.C. midget football title

Semiahmoo Peninsula team defeated Chilliwack Giants 39-17 in championship game Sunday

White Rock ‘caught between two ideologies’

Council approves further spending on Memorial Park, balks at water rate increase

Police aim to prevent retaliation after Hells Angel found dead under B.C. bridge

IHIT confirms Chad Wilson, 43, was the victim of a ‘targeted’ homicide

Canucks’ 50/50 jackpot expected to surpass $1 million

The guaranteed prize for one lucky winner will be $500,000 minimum when Vancouver hosts LA Nov 27

The latest advent calendar trend: Holiday cannabis

A Canadian company is giving people from coast to coast a new way to celebrate the Christmas countdown.

B.C. woman allegedly threatens to rip out intestines of American man

A Kamloops-area woman is accused of harassing and threatening to disembowel an American man

B.C. model looks a lot like expanded taxi industry, ride-hailing group says

Ridesharing Now for BC says it had hoped the bill would be more customer-driven like in other cities

Otter makes a snack out of koi fish in Vancouver Chinese garden

Staff say the otter has eaten at least five fish

731,000 Canadians going into debt to buy prescription drugs: UBC

Millennials and those without private coverage were more likely to borrow money

Pot users, investors need to be vigilant at Canada-U.S. border

U.S. authorities say anyone who admits to having used pot before it became legal could be barred

Shirtless stranger loomed over couch and started stabbing, bloody B.C. murder trial hears

Colin John pleads not guilty as trial opens in 2016 Chemainus murder case

Most Read