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April 2022 Fraser Valley Market Stats
Property sales in the Fraser Valley have gone down by over 35% in April 2022 compared to last month, and while the figure is still the sixth-highest April on record for the past ten years, this is the first time since June 2020 sales have decreased below the ten-year average.
In April, 1,637 sales were processed by the Fraser Valley Real Estate Board (FVREB) on its Multiple Listing Service® (MLS®), this is a 45.7% decrease compared to this time last year.
Fraser Valley Real Estate Board President said in regards to this 'We would typically see a flurry of activity around this time of year, However, that's not been the case so far. While it's still too early to tell if this trend will endure, the slowing of sales combined with an increase of active listings is helping to restore a semblance of balance to the market, which is encouraging for home buyers '
Some stats to keep in mind,
- At $1,731,000, the Benchmark price for a single-family detached home increased 33.8% compared to April 2021.
- At $902,500, the Benchmark price for a townhome increased 38.3% compared to April 2021.
-At $649,500 the Benchmark price for an FVREB apartment/condo increased 38.2% compared to March 2021.
Here is a link to the full Stats Package for April 2022 including 5 year summaries, Home Price Index & Average Price charts, Specific Stats for Fraser Valley municipalities in detail and more! CLICK HERE