Fraser Valley Update Market Report
Near record-breaking new listings in the Fraser Valley not enough to match insatiable buyer demand
Fraser Valley’s extraordinary pandemic real estate market continued to break sales records – for the ninth consecutive month – while at the same time, reaching near-historic levels of new listings in May.
In May, the Fraser Valley Real Estate Board (FVREB) processed 2,951 sales on its Multiple Listing Service® (MLS®), an increase of 267% compared to May 2020 and a 2% decrease compared to April. (Note that last year, the market was significantly restricted due to the lockdown.) The previous record high for sales in May for the Fraser Valley region was 2,911 in 2016.
The following data is a comparison between May 2020 and May 2021 numbers,...
Monthly sales and new listings in the Fraser Valley continue blistering pace; surge in inventory starting to calm prices
For the eighth consecutive month, Fraser Valley real estate saw record-breaking sales with April topping the previous monthly high set in 2016. The 2020/2021 pandemic seller’s market in the Fraser Valley has now surpassed the previous longest stretch of seven consecutive, record-breaking months, last set in 2015/2016.
In April, the Fraser Valley Real Estate Board (FVREB) processed 3,016 sales on its Multiple Listing Service® (MLS®), an increase of 338% compared to April 2020 and a 9% decrease compared to March. (Note that sales and new listings in April 2020 were significantly restricted due to the pandemic lockdown.) The previous record high for sales in April was 2,969 in...
March shatters monthly sales and new listings records in the Fraser Valley
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.
In March, the FVREB processed 3,329 residential and commercial sales on its Multiple Listing Service® (MLS®), an increase of 131% compared to March 2020 and 18% more than were processed in February. The previous record of 3,006 sales was set in March of 2016.
Larry Anderson, President of the Board, said of this month’s statistics, “This market is uncharted territory for Fraser Valley real estate. The surprising strength of the economy, the influence of the pandemic and a lack of inventory of all property types has created...
Another month, another record for property sales in the Fraser Valley
For the sixth consecutive month, Fraser Valley’s real estate market experienced property sales at levels never seen before in the 100-year history of the Fraser Valley Real Estate Board (FVREB).
In February, the FVREB processed a total of 2,815 sales on its Multiple Listing Service® (MLS®), an increase of 108% compared to February 2020 and 64% more than were processed in January 2021. To provide a historical perspective, sales in February were 88% above the 10-year average for that month; and 18% higher than the previous record of 2,387 sales in February 2016.
The following data is a comparison between February 2020 and February 2021 numbers, and is current as...
Fraser Valley real estate market full steam ahead in January; another record-setter for property sales
In a month that is usually one of the quietest in real estate, Fraser Valley’s market continued at a breakneck pace, producing the strongest January sales on record as well as a modest uptick in new listings.
The Fraser Valley Real Estate Board processed a total of 1,718 sales of all property types on its Multiple Listing Service® (MLS®) in January 2021, an increase of 76 per cent compared to January 2020 and 18 per cent fewer then were processed in December 2020. Sales in January set a new, record high for the month; 72 per cent above the 10-year average, and 28 per cent higher than the previous record of 1,338 sales set in January 2016.
In a year when the real estate market was at a standstill for months due to COVID‐19, total annual sales in the Fraser Valley still finished 12.4 per cent above the 10‐year average due to unrelenting, pent‐up consumer demand during the second half of 2020.
In December, the Board’s Multiple Listing Service® (MLS®) processed a staggering 2,086 sales, the strongest December on record and 81.2 per cent above normal for the month. New listings in December, were the second highest on record at 1,502. By month’s end, active inventory finished below typical levels, at 3,949 units
The following data is a comparison between December 2019 and December 2020 numbers, and is current as of January 2021. For last month’s report, check out our previous...
Unrelenting demand for Fraser Valley detached and townhomes continued in November.
For the fifth consecutive month, demand for real estate in the Fraser Valley showed no signs of waning. Overall property sales for the month of November again set a new Board record. Sales records were also broken in September and October; and since July, all activity including new listings, has continued to be inordinately high.
The Fraser Valley Real Estate Board processed 2,173 sales of all property types on its Multiple Listing Service® (MLS®) in November, an increase of 54.7% compared to the 1,405 sales in November of last year, and an 8.3% decrease month-over-month compared to the 2,370 sales in October.
The following data is a comparison between...
Sales volumes remain exceptional in the Fraser Valley
Ongoing demand for Fraser Valley real estate saw overall sales reach the highest point for the month of October in the Board’s history. This is the fourth consecutive month of record-breaking or near-record activity for sales and new listings in the region.
The Fraser Valley Real Estate Board processed 2,370 sales of all property types on its Multiple Listing Service® (MLS®) in October, an increase of 48.9% compared to the 1,592 sales in October of last year, and an 6.2% increase month-over-month compared to the 2,231 sales in September.
The following data is a comparison between October 2019 and October 2020 numbers, and is current as of November 2020. For last month’s report,...
Consumer demand for real estate in the Fraser Valley remained robust for the fourth consecutive month, with overall sales and new listings reaching record breaking numbers in September.
The Fraser Valley real estate board processed 2,231 sales on its Multiple Listing Service in September, an increase of 66.1% compared to the same month last year and an increase of 9.4% compared to August 2020. this is the highest recorded sales for September in the history of FVREB.
In the last three months, Fraser Valley has seen a defined shift in demand towards single family detached homes with sales in July through to September garnering 47% of the three main residential types, compared to 43% during the same period last year.
Sales and new listings continue to set records in the Fraser Valley
The Fraser Valley Real Estate Board’s Multiple Listing Service® (MLS®) saw the second highest number of property sales and the highest number of new listings in August within the last two decades, when 2,298 sales were recorded in August 2005.
The FVREB processed a total of 2,039 sales in August, a decrease of 2.9% compared to sales in July, but an increase of 57.2% compared to the 1,297 sales during August of last year. Last month’s sales were 39% above the ten-year average for August, representing the highest August in the last decade and second only to what was recorded back in August 2005.
The following data is a comparison between August 2019 and August 2020...