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May 2022 Fraser Valley Market Stats

Posted by Brad Fry on June 2, 2022
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Property sales continue to fall in the Fraser Valley and active listings continue to grow, as the region edges more towards balanced levels not seen since the pre-pandemic period. 

 

Sales of all property types in May were 1,360, down 53.9 percent compared to May of 2021.

 

 

FVREB President Sandra Benz says 'Since March, we've seen sales come down with an accompanying increase in inventory, subsequently restoring much-needed balance and cooling our heated market'. She also added that 'While still early, it suggests

that as we gradually settle into a post-pandemic state of work and life, the big pandemic-era drivers – working from home and record low interest rates – may have run their course.”

 

 

Some notable stats:

  • The FVREB single family detached home price has increased 26.2% from May 2021 to a Benchmark price of  $1,712,500
  • The FVREB townhome price has increased by 31.3% from May 2021 to a Benchmark price of $918,900
  • The FVREB Apartment price has increased by 30% compared to May 2021's Benchmark price of $581,400

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