2016 was a record year for home sales in the Fraser Valley with new highs for transactions and dollar volume.

Fraser Valley Real Estate Board says that there were 23,974 sales through its MLS system last year, up 13.6 per cent from a year earlier and more than 12 per cent above the previous record of 21,282 set in 2005.

Townhomes and apartments also set new record sales for their property types at 5,369 and 5,069 respectively.

December saw a slower year than in 2015 with sales of 966 homes, down 37.4 per cent year-over-year, but in-line with the 10-year average for December.

The board’s HPI benchmark price for single-family detached homes was $856,700, down 0.5 per cent in December compared to the previous month but was 27.4 per cent above a year earlier.

For townhomes, the benchmark was down 1.8 per cent month-over-month to $416,600 but was up 29.5 per cent year-over-year. For apartments, there was a 0.2 per cent dip for the month to $259,000 but the year-over-year rise was 26.4 per cent.
 

Are you looking to invest in property? If you like, we can get one of our mortgage experts to tell you exactly how much you can afford to borrow, which is the best mortgage for you or how much they could save you right now if you have an existing mortgage. Click here to get help choosing the best mortgage rate


More market watch: