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December 2021 Fraser Valley Market Stats
Wow! What a year it has been. With 27,692 property sales, 2021 has shattered the previous record for the most sales in a single year.
The Fraser Valley Real Estate Board saw an increase of 39% in sales over 2020, that came in at 19,926 total sales. The previous record was set in 2016, that year had 23,974 sales processed through the MLS service.
This December the FVREB recorded 1,808 sales, which compared to the record setting December 2020, this was a decrease of 13.3%.
There were 1,278 new listings for the month which left 1,957 active units at year end. This, being the lowest in 41 years, is 60% lower than than the ten year average.
President of the Board, Larry Anderson, said, 'No one could have predicted how the pandemic would impact the real estate market. Our region's relative affordability, combined with a newfound ability to work from home and the value for housing dollar in the Fraser Valley attracted buyers in numbers like we’ve never seen. Whether helping sellers list or helping buyers complete a sale, our Board averaged over 5,200 transactions every month. And even though our volume of new listings was also high, it just couldn’t keep up with the demand.“
The average Single Family Detached home in December was on the market for 24 days and sold for $1,500,000. This Benchmark price price is 3.6 percent higher than November 2021 and has increased 39 percent over December 2020.
The average Townhome in November was on the market for 14 days and sold for $765,800. This Benchmark price price is 3.5 percent higher than November 2021 and has increased 32.9 percent over December 2020.
The average Apartment in November was on the market for 20 days and sold for $549,200. This Benchmark price price is 3.5 percent higher than November 2021 and has increased 25.3 percent over December 2020.
Here is a link to the full Stats Package for December 2021 including 5 year summeries, Home Price Index & Average Price charts, Specific Stats for Fraser Valley municipalities in detail and more! CLICK HERE