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| The Fraser Valley’s
active listings increased twelve per cent from last year and sales were up
42 percent from August 2002. Although August took a dip from the previous
month of July, this summer season has been one of the strongest for the
Fraser Valley, with both July and August breaking all-time sales records
for those months. Active inventory for August was at 6,424, down a small 2 percent from last year. But with a sales to active listings ratio at 26 percent, the Fraser Valley shows little sign of slowing down. Housing prices held strong throughout the summer and actually increased. The price of a single family house averaged $309,267, which represents a considerable `14.5% increase from Aug. 2002. Townhouses went for an average of $196,503, a jump of 6.3% from July, and 4.9% from August 2002. Apartment prices rose more modestly going up 1.6 per cent from July, at an average $121,958. a 3.3 percent increase from August last year. |
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| HOME WARRANTIES Home warranties are described by The National Board of Realtors as “service contracts”, typically lasting one year. They cover future repair or replacement of major home systems and appliances that break down due to normal wear and tear. They don’t overlap or replace the homeowner’s insurance policy. You can just think of it as a cause and effect relationship . If a hot water heater were to burst and destroy a wall in a house the warranty would repair the water heater and the insurance would pay to fix the wall. The age of a home usually doesn’t matter, as far as the warranty coverage is concerned but the covered items must be in good working order at the start of the contract! Www.CMHC.CA |
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| Market Activity In The
Area The following are sales which have occurred in the immediate area since July 15, 2003. |
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