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August 2021 Fraser Valley Market Stats
August 2021 in the Fraser Valley showed the second highest amount of sales ever for the month, while at the same time the market supply is the lowest it's been in 40 years!
There were 2087 property sales processed by the Fraser Valley Real Estate Board in August, which is a 2.4% increase over August last year and a 4% up over July 2021.
President of the Board, Larry Anderson said 'Home buyers are facing one of the worst supply shortages in Fraser Valley history. Our sales are over 30 per cent above normal, while our housing stock is at levels last seen in the early 80s. To put our supply and demand situation in perspective, for every 100 townhomes on the market in August, Fraser Valley REALTORS® sold 94. The single-family detached and condo markets also remained in strong seller’s market territory. Persistent demand and lack of supply continues to put upward pressure on home prices.”
For the Month the Board had 2107 new listings which is a decrease of 36.3% compared to last August. This was down 13.3% from the previous month of July 2021.
August ended with 4077 active listings, a huge 44.9% less than the end of August 2020.
The average Single Family Detached home in August was on the market for 29 days and sold for $1,336,800. This Benchmark price price is 1.3 percent higher than July 2021 and has increased 31.1 percent over August 2020.
The average Townhome in August was on the market for 19 days and sold for $697,500. This Benchmark price price is 1.3 percent higher than July 2021 and has increased 23.7 percent over August 2020.
The average Apartment in August was on the market for 24 days and sold for $498,800. This Benchmark price price is 1 percent higher than July 2021 and has increased 14.1 percent over August 2020.
Here is a link to the full Stats Package for August 2021 including 5 year summeries, Home Price Index & Average Price charts, Specific Stats for Fraser Valley municipalities in detail and more! CLICK HERE