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October 2022 Fraser Valley Market Stats
Housing prices remain soft, sales flat, throughout the Fraser Valley
Fraser Valley housing market sales for October remained relatively unchanged from last month as prices dipped slightly across all categories.
The Board received 2,186 new listings in October, a decrease of 3.8% compared to September, and on par with October 2021. The month ended with a total active inventory of 5,642, a decrease of 2.8% from last month but up 63.7% compared to October 2021.
President of the Fraser Valley Real Estate Board Sandra Benz says 'These trends suggest that the market is looking to re-establish equilibrium in the wake of last year’s intense activity and in the face of continued interest rate pressures,'
Prices continued to soften, with month-over-month Benchmark prices down slightly across all property categories. For detached homes, prices are on par with October 2021 levels, while townhomes and apartments are up 7.7% and 11.5%, respectively, over 2021.
- Single Family Detached: At $1,436,400, the Benchmark price for an FVREB single-family detached home decreased 1.8 per cent compared to September 2022 and decreased 0.8 per cent compared to October 2021.
- Townhomes: At $809,800, the Benchmark price for an FVREB townhome decreased 1.5 per cent compared to September 2022 and increased 7.7 per cent compared to October 2021.
- Apartments: At $527,900 the Benchmark price for an FVREB apartment/condo decreased 0.5 per cent compared to September 2022 and increased 11.5 per cent compared to October 2021.
Take a look at the full Stats pack from the FVREB for the month of October HERE