Courtesy of Bill DeMooy

Fraser Valley Stats

Vancouver Stats

BENCHMARK PRICES

BENCHMARK PRICES

$1,813,100 detached DOWN 12% year-to-year

$1,364,300 detached DOWN 21.5% year-to-year

DOWN 3% year-to-year $732,200 apartment

$510,100 apartment DOWN 10.5% year-to-year

$1,038,500 townhouse DOWN 6.3% year-to-year

$776,200 townhouse DOWN 13.8% year-to-year

Statistics reflect market activity in February 2023 | Source: REBGV ® Real Estate Board of Greater Vancouver | Market values stated are of the benchmark of Vancouver and surrounding region. Individual home market values will vary and are affected by factors such as location, size, interior and exterior condition. Please call to get an up-to-date evaluation of your home.

1,938

Statistics reflect market activity in February 2023 | Source: FVREB ® Fraser Valley Real Estate Board | Market values stated are of the benchmark of Fraser Valley and surrounding region. Individual home market values will vary and are affected by factors such as location, size, interior and exterior condition. Please call to get an up-to-date evaluation of your home.

3,467

new

new

4,408

7,868

active

active

LISTINGS

1,808 sold

898 sold

AN ‘A TO C’ LOOK AT SOME COMMON REAL ESTATE TERMS

Real estate is a complicated business and like with any distinctive profession includes its own unique jargon and terminology. Here is a sampler, covering some of the more common real estate terms. But those just in the categories of A to C. Adjustable-rate mortgage: A mortgage loan of this type comes with an interest rate that can change throughout the loan’s lifetime. Buyer’s agent: An agent that works strictly with buyers to find and purchase properties. Comparative market analysis (CMA): A process used by agents to determine the approximate value of a home based on the sale prices of similar properties in the area. CMAs help sellers set a listing price. Contract: A written and legally binding agreement between a buyer and seller outlining the details of a real estate transaction. Curb appeal: The appearance and overall attractiveness of a property’s exterior.

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