The Fraser Valley Real Estate Board recently published the MLS® statistics for the real estate market, among others, for March 2014.
In this post, we’re going to take a close look at key numbers for the townhouse market for March 2014 – including sales, new listings, active listings, as well as benchmark, median and average prices for townhouses for sale in .
We're also going to see what kind of shape the townhouse market in was in for the month – whether it was a buyer's market, a balanced market, or a seller's market.
– President, Fraser Valley Real Estate Board
And we're going to look at how the MLS® numbers for March 2014 compare with the numbers for March 2013 and for February 2014.
Highlights of FVREB MLS® Data on Townhouse Listings and Sales
Here's a high-level snapshot of listing and sales activity for townhouses in March 2014.
- 31 Sales
- 81 New Listings
- 197 Active listings
- $213,800 Benchmark Price
- $270,000 Median Price
- $275,212 Average Price
The sales-to-active-listings ratio netted out a market absorption rate of 15.74%, indicating that it was a Balanced Market for townhouses in in March 2014 (click on the link learn more about local housing market ratios on the BC Real Estate Association blog).
Please note: If you want the most accurate and up-to-date data on MLS® listing and sales activity for townhouses, you need to speak with a real estate agent.
Townhouse Market Changes
Following are some of the highlights for townhouses for sale in in March 2014:
- There were 31 townhouse sales in in March 2014 – a decrease of -22.50% over March 2013 and a decrease of -27.91% over February 2014
- There were 81 new listings of townhouses in in March 2014 – an increase of 30.65% over March 2013 and an increase of 26.56% over February 2014
- The average price of a townhouse in in March 2014 was $275,212 – an increase of 1.88% over March 2013 and a decrease of -0.18% over February 2014
If you're really keen to understand what happened in the market for townhouse in in March 2014, make sure you check out the next section.
Detailed Overview of the Market for Townhouses in
Check out the table below for more detailed information on what happened in the townhouse market in March 2014 and see how it compares with the previous year and previous month.
Townhouse Stats
| Metric | Mar 2014 | Mar 2013 | % Change | Feb 2014 | % Change |
|---|---|---|---|---|---|
| Sales | 31 | 40 | -22.50% | 43 | -27.91% |
| New Listings | 81 | 62 | 30.65% | 64 | 26.56% |
| Active Listings | 197 | 204 | -3.43% | 169 | 16.57% |
| Benchmark Price | $213,800 | $234,000 | -8.63% | $213,100 | 0.33% |
| Median Price | $270,000 | $266,000 | 1.50% | $282,000 | -4.26% |
| Average Price | $275,212 | $270,141 | 1.88% | $275,710 | -0.18% |
Disclaimer
All of the data for the monthly real estate market updates are taken directly from the MLS® statistics packages that the Fraser Valley Real Estate Board publishes every month.
Although rare, errors and omissions may happen from time to time. If you want to be absolutely certain the you have the most accurate data, we encourage you to click on the link to the latest MLS® statistics for the real estate market.
Or, better still, speak directly with a real estate agent who specializes in townhouses who will be able to provide you with the most accurate, up to the minute information on – and insights into – the real estate market.