Following up on my last blog post, regarding August 2020 housing market stats, it's worth focussing in on detached home sales.
Fraser Valley residential real estate in August 2020 showed a very high level of demand for detached houses.
For example, detached house sales were up by the following (August 2020 vs August 2019)
ALL AREAS COMBINED - UP 72%
ABBOTSFORD - UP 92%
MISSION - UP 69%
WHITE ROCK / SOUTH SURREY - UP 86%
LANGLEY - UP 51%
NORTH DELTA - UP 31%
CITY OF SURREY (COMBINED) - UP 80%
It is clear from these numbers that there is in fact a strong push into and a demand for detached houses in the suburbs of Vancouver. Home buyers evidently do want more physical space and room in their housing. The suburbs of Vancouver, like Surrey, Langley and Abbotsford offer plenty of space and value.
My blog months ago predicted that this trend would emerge during the COVID 19 pandemic and here we are witnessing that play out in the Fraser Valley housing statistics.
This is a very hot market out in the Valley. If you are looking to buy a home in the Fraser Valley and are in need of a buyers agent or REALTOR, please do not hesitate to get in touch with me.