Trevor Miller

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.

Congrats to my clients Rod & Cindy on the quick sale of their townhouse. 15 showings in 2 days, multiple offers, $50,000 over asking!

Thinking about selling? Get me working for you!

Fraser Valley real estate hit two historical highs in March, setting records for both sales and new listings processed in one month since the Fraser Valley Real Estate Board’s (FVREB) inception in 1921. (Source: FVREB)

Full details HERE

From CTV News:

Red-hot real estate market sees Langley, B.C., home sell for half-million over asking

Click HERE for story

Another month, another record for property sales in the Fraser Valley

Fraser Valley real estate market full steam ahead in January; another record-setter for property sales

“For the fifth consecutive month, demand for real estate in the Fraser Valley showed no signs of waning.” – FVREB

Unrelenting demand for Fraser Valley detached and townhomes continued in November