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Fraser Valley realtors recorded their fourth busiest June on record racking up 1,982 sales during the month, a 40-per-cent increase from the same month a year ago.
Buyers taking advantage of lower prices helps to partly explain the surge. The benchmark price of a typical detached home was $471,788, which is still down eight per cent from June 2008.
That price, however, is up 1.3 per cent from May when the benchmark was $465,939. The benchmark price is a calculation based on the features of homes most typically sold in that category.
"We`re essentially seeing two markets right now," Paul Penner, president of the Fraser Valley Real Estate Board said in a news release.
Read the full article here.
Buyers taking advantage of lower prices helps to partly explain the surge. The benchmark price of a typical detached home was $471,788, which is still down eight per cent from June 2008.
That price, however, is up 1.3 per cent from May when the benchmark was $465,939. The benchmark price is a calculation based on the features of homes most typically sold in that category.
"We`re essentially seeing two markets right now," Paul Penner, president of the Fraser Valley Real Estate Board said in a news release.
Read the full article here.