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Fraser Valley Stats for February 2022

Posted by Brad Fry on March 8, 2022
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Bringing good news for buyers, the Fraser Valley Real Estate Board received a record setting 3,742 new listings in February 2022. That’s an amazing 75.3 % increase from the previous month and an up of 14.6 % over February of 2021. 

 

At the end of the month the FVREB had processed 1,824 sales for an up of 39.2 % from January and down 35.2 % from February 2021. At 18 % above the 10-year average, sales in the Fraser Valley are staying high.

 

 

From the end of January to the end of February we see the largest month to month change in active listings in the last 20 years, coming in at a 62.5 % increase and leaving February with 3,790 active listings.

 

Larry Anderson, President of the Fraser Valley Real Estate Board, said “Although the market is still far from balanced, it is encouraging to see new listings increase again for the second month in a row. We’re hopeful that this trend will be sustained leading into the spring season as more sellers come on stream to help soften the market and provide opportunities for the many buyers who’ve been sidelined over the past year and a half.”

 

 

The average Single Family Detached home in February was on the market for 13 days and sold for $1,670,800. This Benchmark price price is  6.5 percent higher than January 2022 and has increased 43.6 percent over February 2021.

 

The average Townhome in February was on the market for 11 days and sold for $840,900. This Benchmark price price is 5.6 percent higher than January 2022 and has increased 40.1 percent over February 2021.

 

The average Apartment in February was on the market for 12 days and sold for $614,800. This Benchmark price price is 7.1 percent higher than January 2022 and has increased 36.3 percent over February 2021.