Trevor Miller

The latest FVREB stats out today show a continued slowing of sales and a slight rise in inventory combining to bring greater stability to the Fraser Valley housing market.

• Single Family Detached: At $1,462,000, the Benchmark price decreased 3.4 per cent compared to August 2022 and increased 4.1 per cent compared to September 2021.

• Townhomes: At $822,400, the Benchmark price decreased 2.3 per cent compared to August 2022 and increased 11.6 per cent compared to September 2021.

• Condos: At $530,400 the Benchmark price decreased 2.1 per cent compared to August 2022 and increased 14.5 per cent compared to September 2021

Click HERE for the full story.

The latest stats are out from the Fraser Valley Real Estate Board, and the average number of days to sell a single-family detached home has increased to 33. For townhomes it’s 26 days, while apartments/condos in August took, on average, 25 days to sell. 

Click HERE for latest stats from Fraser Valley Real Estate Board.

The Fraser Valley real estate market saw sales fall again in July in the face of continued interest rate hikes, as the government struggles to bring inflation under control.

“It is important to keep in mind that real estate is and always will be an asset with considerable upside over the long-term,” said Fraser Valley Real Estate Board President, Sandra Benz.

“As prices come down from the highs of recent months, there are opportunities for buyers who have been waiting to re-enter the market and shop for the right property.” 

View the press release & stats HERE 

A slowing of sales combined with an increase in active listings is helping to restore a semblance of balance to the market, which is encouraging for homebuyers, says the Fraser Valley Real Estate Board.

Click HERE for the full story.

FVREB April News Release

MLS® HPI Benchmark Price Activity

Single Family Detached:

At $1,670,800, the Benchmark price for an FVREB single-family detached home increased 6.5 per cent compared to last month and increased 43.6 per cent compared to February 2021.

Townhomes:

At $840,900, the Benchmark price for an FVREB townhome increased 5.6 per cent compared to last month and increased 40.1 per cent compared to February 2021.

Apartments:

At $614,800 the Benchmark price for an FVREB apartment/condo increased 7.1 per cent compared to last month and increased 36.3 per cent compared to February 2021.

SURREY, BC – Buyers of Fraser Valley real estate had significantly more inventory to choose from last month due to a record-breaking volume of new listings received for the month of February.

The Fraser Valley Real Estate Board (FVREB) received 3,742 new listings in February, an increase of 75.3 per cent compared to January, and an increase of 14.6 per cent compared to February of last year. The previous highest February for new listings was 3,283 in 2016.

The FVREB processed a total of 1,824 sales of all property types on its Multiple Listing Service® (MLS®) in February 2022, a decrease of 35.2 per cent compared to February 2021, and 39.2 per cent higher compared to January 2022. Sales remain strong at 18 per cent above the 10-year average.

By month end, February’s total active listings available for purchase were 3,790, a decrease of 8.0 per cent compared to the same month last year, however 62.5 per cent higher than what was available at the end of January. It’s the highest month-over-month increase in active listings in the Fraser Valley in 20 years.

FVREB February News Release

According to the Fraser Valley Real Estate Board, it continues to be a seller’s market as demand continues to outpace supply in the region.

Read the latest stats HERE.

I did 50+ showings in 6 hours on the property pictured here, but the result was 14 offers and it SOLD for $220,000 OVER ASKING.

So happy for my wonderful clients, Marius & Nikki.

There’s never been a better time to sell than right now (in case you were asking).

New FVREB stats show White Rock/South Surrey benchmark prices have increased (again) in all three categories:

• Detached Homes: up 1.3% from prior month and 22.7% from 2020
• Townhomes: up 2.3% from prior month and 24.6% from 2020
• Condos: up 0.5% from prior month and 18.6% from 2020

Low inventory of homes available for sale means it’s still a “seller’s market”!

Contact me for a free “no strings” home evaluation.

Click HERE for the full story from the Fraser Valley Real Estate Board.

According to the Fraser Valley Real Estate Board, demand for Fraser Valley real estate remains high against a backdrop of decreasing supply.

Get the full story by clicking HERE.