Buying and Selling Real Estate Blog
Selling Unique BC Properties
October 2021 Fraser Valley Market Stats
Fraser Valley real estate has stayed consistant with the third best October on record.
The FVREB processed 19.8 sales last month for an increase of 3.9% from September and a 18.2% decrease compared to October of 2020.
The number of new listings was down 29% compared to last October and dropped had 6.6% from September 2021. There were 2188 new listings, which left the 3447 listings active at months end for a huge 49.8% decrease compared to October 2020.
President of the Board, Larry Anderson, Said, 'What we’re seeing is a combination of above‐average sales with below‐average new listings which is placing strong upward pressure on home prices, for all residential categories, month‐over‐month. It is a very challenging time, particularly for buyers. I empathize with clients who have been trying to buy a home for more than a year without success after multiple attempts. Now, more than ever is the time when buyers and sellers alike must rely on their REALTOR® to guide and advise them in considering all available options, including a change in community or even property type.”
Baldev Gill, Chief Executive Officer of the Board, said, “Fraser Valley is a top destination currently in BC for buyers looking for relatively affordable family‐sized homes. Townhomes and single‐family homes are selling on average within two to four weeks in our region, with buyers keenly watching the market for new listings.”
In September the average Single Family Detached home was on the market for 26 days and sold for $1,362,220. This Benchmark price price is 1.9% higher than August 2021 and has increased 31.9 percent over September 2020.
In September the average Townhome was on the market for 19 days and sold for $707,300. This Benchmark price price is 1.4% higher than August 2021 and has increased 24.7 percent over September 2020.
In September the average Apartment was on the market for 26 days and sold for $504,500. This Benchmark price price is 1.2% higher than August 2021 and has increased 15.5 percent over September 2020.
Here is a link to the full Stats Package for October 2021 including 5 year summeries, Home Price Index & Average Price charts, Specific Stats for Fraser Valley municipalities in detail and more! CLICK HERE