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Sales and prices remained strong, while new listings climbed during the month of May, according to statistics from the Fraser Valley Real Estate Board’s Multiple Listing Service® (MLS®). The total number of sales processed through the MLS® in May was 2,152, a decrease of 4 per cent compared to the same month last year – the highest May on record - when 2,245 sales were processed. This is an increase of 21 per cent compared to last month when 1,781 properties sold in April, 2007.May’s increase in new listings at 3,691 was the second highest influx of new inventory on record for the Fraser Valley Board’s MLS®. New listings increased by 34 per cent compared to the same month last year taking the number of active listings in May to 8,381, an increase of 52 per cent compared to the 5,496 active listings in May of 2006.In May, the average price of a single-family detached house in the Fraser Valley was $521,444, an increase of 12.6 per cent compared to the same month last year when the average price was $463,100.The average prices of townhomes and apartments both rose 13.9 per cent in one year. The average townhome price in May 2007 was $331,476 compared to $291,079 in May of last year.The average apartment price in May 2007 was $218,371 compared to $191,671 the same month last year.
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