Buying and Selling Real Estate Blog
Selling Unique BC Properties
July 2021 Fraser Valley Market Stats
In the Fraser Valley July continued to be a sellers market. Though both sales and new listings nubers have both dropped down a bit,
there is still many more buyers out there than homes for sale. We are experiencing the lowest supply of properties on the market in over forty years!
The Fraser Valley Real Estate Board processed 2,006 property sales in July. This is an 11 percent decrease compared to last month and a 4.5 percent decrease compared to July 2020.
Despite these decreases, sales remained above the ten year average for July by 15 percent!
There was 2,431 new listings submitted to the Board in July, down 22 percent from June 2021 and a whopping 31.5 percent from last years July.
The total inventory for the Fraser Valley Board at the end of the month was 4,901 homes on the market. 10.5 percent fewer than the previous month and 33 percent less than July 2020.
President of the Board, Larry Anderson said, 'A summer slowdown is typical. We anticipated that once people could travel and enjoy family time safely, they would do so, and we couldn’t be happier for everyone. Demand for homes in our region, however, remains above average – for fourteen months we have been in a seller’s market for Fraser Valley detached homes, townhomes and condos – and yet for the last four months, new listings in our region have been decreasing.'
The average Single Family Detached home in July was on the market for 26 days and sold for $1,319,200. This Benchmark price price is .04 percent lower than June 2021 and has increased 30.9 percent over July 2020.
The average Townhome in July was on the market for 15 days and sold for $688,400. This Benchmark price price is 1.5 percent higher than June 2021 and has increased 22.3 percent over July 2020.
The average Apartment in July was on the market for 24 days and sold for $494,000. This Benchmark price price is .1 percent higher than June 2021 and has increased 13 percent over July 2021.
Here is a link to the full Stats Package for July 2021 including 5 year summeries, Home Price Index & Average Price charts, Specific Stats for Fraser Valley municipalities in detail and more! CLICK HERE