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November 2021 Fraser Valley Market Stats

Posted by Brad Fry on December 3, 2021
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In November 2021 we saw the second highest ever number of sales processed for the Fraser Valley Real Estate Board. 

There were 1,972 sales in total for the month, which is an increase of 1.8% over the previous month of October 2021 and a decrease of 9.2% from last years Novemeber which had 2,173 total sales and hold the current record for the number of sales in a November. 

 

There was a 4.2% decrease in new listings from October with 2,096 new listings coming to the Board in November. This is also a 5.5% drop from November of 2020.  The average number of new listings, for November, over the last 10 years is 1,948, so this year came in above the average levels.

 

 

President of the Fraser Valley Real Estate Board, Larry Anderson said, 'Lack of supply continues to be the biggest factor impacting the market. To see sales increase from October to November, even slightly, is unusual. Typically, as the weather changes and the holiday season approaches, we see sales start to decline, but not this year. This is not an easy market. Buyers and sellers alike are relying on the experience and skill of their REALTOR® to help them navigate a lack of supply, multiple offer situations, and very fast turnaround times.”

 

This Novemeber finished off the month with a total of 3,048 listings active on MLS. That is an 11.6% decrease from the previous month and a whopping 47.9% decrease from November 2020! Inventory levels would normally be over double what we've seen this month.

 

 

 


The average Single Family Detached home in November was on the market for 24 days and sold for $1,448,000. This Benchmark price price is  3.7 percent higher than October 2021 and has increased 36.4 percent over November 2020.

 

The average Townhome in November was on the market for 16 days and sold for $740,100. This Benchmark price price is 2.7 percent higher than October 2021 and has increased 29.8 percent over November 2020.

 

The average Apartment in November was on the market for 24 days and sold for $530,400. This Benchmark price price is 3.2 percent higher than October 2021 and has increased 21.7 percent over November 2020.

 

Here is a link to the full Stats Package for November 2021 including 5 year summeries, Home Price Index & Average Price charts, Specific Stats for Fraser Valley municipalities in detail and more! CLICK HERE