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March 2022 Fraser Valley Market Stats

Posted by Brad Fry on April 5, 2022
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For the third month straight, Buyers in the Fraser Valley have had continued options for buying due to the climb in new listings, helping to increase active inventory to levels that we haven't seen seen since last July. 



Through March, the board has processed 2,580 residential and commercial sales on its Multiple Listing Service®. a decrease of 22.5 per cent compared to March 2021 and 41.4 per cent more than were processed in February.

 

The President of the Board, said of this month’s statistics, “Sales were strong again in March as more new listings continued to come on stream. We’re hopeful this will contribute to a slowing in price growth, which is good news for the home-buying public. Other encouraging signs, such as less open house traffic and fewer multiple offers, may help us get to a more balanced market, however until the fundamental issue of lack of supply is addressed, we won’t see that happen anytime soon.”

 

Some notable stats

A Single Family Detached: At $1,726,900, the Benchmark price for a single-family detached home increased 3.4 per cent compared to February 2022 and increased 39.5 per cent compared to March 2021.

Townhomes: At $886,400, the Benchmark price for a townhome increased 5.4 per cent compared to February 2022 and increased 41.9 per cent compared to March 2021.

Apartments: At $643,000, the Benchmark price for an apartment/condo increased 4.6 per cent compared to February 2022 and increased 38.2 per cent compared to March 2021.

 

 Here is a link to the full Stats Package for March 2022 including 5 year summaries, Home Price Index & Average Price charts, Specific Stats for Fraser Valley municipalities in detail and more! CLICK HERE