Fraser Valley Market Report Infographics
INFOGRAPHICS: September 2024 FVREB Fraser Valley Market Reports
Sluggish sales and rising inventories see Fraser Valley moving toward a buyer’s market
With active inventories hitting levels not seen in 10 years and sales 30 per cent below the 10- year average, Fraser Valley real estate is building towards a buyer’s market if sales continue to lag.
The Fraser Valley Real Estate Board recorded 982 sales in September, down by eight per cent over August and by more than 10 per cent over September 2023. Again, seasonally adjusted sales were the second slowest in a decade in the Fraser Valley.
“With three rate cuts already and more expected before the end of the year, buyers are watching the market closely to time their purchasing decisions,” said Jeff Chadha, Chair of the Fraser Valley Real Estate Board. “The current conditions should favour buyers, particularly in the detached market, however until we start to see some movement in asking prices, properties will continue to sit on the market for extended periods as both buyers and sellers await the next rate announcement.”
Read the full report on the FVREB website!
The following data is a comparison between September 2024 and September 2023 numbers, and is current as of October 2024. For last month’s report, check out our previous infographic!
Or follow this link for all our FVREB Infographics!
These infographics cover current trends in Fraser Valley neighbourhoods that are within the FVREB. Click on the images for a larger view!
Download Printable Version – FVREB September 2024 Market Report
INFOGRAPHICS: August 2024 FVREB Fraser Valley Market Reports
Two rate cuts not enough to ignite summer home sales in the Fraser Valley
The Fraser Valley residential resale market slowed again in August, as homebuyers continue to face affordability challenges.
The Fraser Valley Real Estate Board recorded 1,067 sales in August, down by 13 per cent over last month and by 30 per cent over the 10-year seasonal average. August sales were the second slowest seasonally adjusted sales in a decade.
Inventory levels in the Fraser Valley dipped slightly in August with active listings at 8,626, down one per cent from July, but 37 per cent higher than August 2023.
“Despite two policy rate cuts by the Bank of Canada, buyers are still feeling the squeeze of overall affordability challenges in BC,” said Jeff Chadha, Chair of the Fraser Valley Real Estate Board. “With prices for single-family homes, townhouses and condos holding relatively flat year-over-year, many continue to face challenges buying their first home or moving up in the market, as reflected in seasonally slow August sales.”
Read the full report on the FVREB website!
The following data is a comparison between August 2024 and August 2023 numbers, and is current as of September 2024. For last month’s report, check out our previous infographic!
Or follow this link for all our FVREB Infographics!
These infographics cover current trends in Fraser Valley neighbourhoods that are within the FVREB. Click on the images for a larger view!
Download Printable Version – FVREB August 2024 Market Report
INFOGRAPHICS: July 2024 FVREB Fraser Valley Market Reports
Cool summer market persists in Fraser Valley with second slowest July sales in a decade
Sluggish seasonally-adjusted sales and a continued rise in inventory has the Fraser Valley market slowly shifting to favour buyers.
The Fraser Valley Real Estate Board recorded 1,230 sales in July, down by seven per cent over last month and down by 26 per cent over the 10-year seasonal average.
Inventory levels in the Fraser Valley reached a 10-year seasonally adjusted high in July with active listings at 8,731, up 5 per cent over June and 41 per cent higher than July 2023.
“Amidst an overall balanced market, some REALTORS® are experiencing pockets within the Fraser Valley that favour buyers, where prices have come down,” said Jeff Chadha, Chair of the Fraser Valley Real Estate Board. “This is evident in the amount of time buyers have to view a property before considering making an offer. Properties that are well-priced are selling quickly, suggesting motivated buyers are active in the market despite the slowdown.”
Read the full report on the FVREB website!
The following data is a comparison between July 2024 and July 2023 numbers, and is current as of August 2024. For last month’s report, check out our previous infographic!
Or follow this link for all our FVREB Infographics!
These infographics cover current trends in Fraser Valley neighbourhoods that are within the FVREB. Click on the images for a larger view!
Download Printable Version – FVREB July 2024 Market Report
INFOGRAPHICS: June 2024 FVREB Fraser Valley Market Reports
Fraser Valley home sales fall despite Bank of Canada rate cut
The Fraser Valley Real Estate Board recorded 1,317 sales in June, down by 13 per cent over last month and by more than 30 per cent over both last year and the 10-year seasonal average.
While sales remain soft, inventory continued to build for the sixth straight month to 8,350 active listings. Active listings increased 41 per cent over June 2023 and are the highest they’ve been in five years.
New listings dropped in June, down nine per cent from May, to 3,418. With a sales-to-active listings ratio of 16 per cent, overall market conditions are balanced. The market is considered balanced when the ratio is between 12 per cent and 20 per cent.
“With seasonally slow sales in June and a steady increase in inventory, we’d expect to see affordability improve,” said Jeff Chadha, Chair of the Fraser Valley Real Estate Board. “However, prices in the Fraser Valley remained relatively flat. That said, despite slow sales, properties that are well-priced are finding buyers, and are subsequently selling within three to four weeks.”
Read the full report on the FVREB website!
The following data is a comparison between June 2024 and June 2023 numbers, and is current as of July 2024. For last month’s report, check out our previous infographic!
Or follow this link for all our FVREB Infographics!
These infographics cover current trends in Fraser Valley neighbourhoods that are within the FVREB. Click on the images for a larger view!
Download Printable Version – FVREB June 2024 Market Report
INFOGRAPHICS: May 2024 FVREB Fraser Valley Market Reports
Spring inventory continues to build in the Fraser Valley to levels not seen in nearly five years
Slower seasonal sales helped build inventory to its highest level since September 2019 in the Fraser Valley in May, creating more balanced market conditions for home buyers and sellers. The increase in supply over the past several months has further contributed to a softening of price growth, which is good news for buyers.
Active listings increased eight per cent from April to May to 7,904 — up 42 per cent over May 2023 and 19 per cent above the 10-year average.
Sales, however, remained seasonally slow, with 1,517 transactions on the Fraser Valley Real Estate Board’s Multiple Listings Service ® (MLS®) in May, up 3 per cent from April, but down 11 per cent compared to May 2023. May sales were 21 per cent below the 10-year average.
“We are seeing an influx of inventory this spring, primarily due to slower than usual spring sales,” said Jeff Chadha, Chair of the Fraser Valley Real Estate Board. “Growing inventory levels are helping to create a healthy balance in the market, giving buyers more options, especially as prices continue to flatten.”
Read the full report on the FVREB website!
The following data is a comparison between May 2024 and May 2023 numbers, and is current as of June 2024. For last month’s report, check out our previous infographic!
Or follow this link for all our FVREB Infographics!
These infographics cover current trends in Fraser Valley neighbourhoods that are within the FVREB. Click on the images for a larger view!
Download Printable Version – FVREB May 2024 Market Report
INFOGRAPHICS: April 2024 FVREB Fraser Valley Market Reports
Modest increase in April home sales in the Fraser Valley takes lead from cooler spring weather
Supply of available homes in the Fraser Valley market continued to build last month, however buyers remained relatively hesitant, leading to a cooler resale market in April.
The Fraser Valley Real Estate Board recorded 1,471 transactions on its Multiple Listings Service® (MLS®) in April, up 5 per cent from March, but off by 5 per cent compared to April 2023.
While sales were the third lowest recorded for an April in the last decade, inventory continues to build, reaching levels not seen since September 2020. Active listings were 7,313, up by 18 per cent over last month and 17 per cent above the 10-year average.
“We are seeing a relatively calm and balanced market right now,” said Jeff Chadha, Chair of the Fraser Valley Real Estate Board. “Which means buyers have time to shop around and purchase a home without the pressure of a few years ago, and while prices are holding fairly steady across all property types.”
Read the full report on the FVREB website!
The following data is a comparison between April 2024 and April 2023 numbers, and is current as of May 2024. For last month’s report, check out our previous infographic!
Or follow this link for all our FVREB Infographics!
These infographics cover current trends in Fraser Valley neighbourhoods that are within the FVREB. Click on the images for a larger view!
Download Printable Version – FVREB April 2024 Market Report 1
Download Printable Version – FVREB April 2024 Market Report 2
Download Printable Version – FVREB April 2024 Market Report 3
Download Printable Version – FVREB April 2024 Market Report 4
INFOGRAPHICS: March 2024 FVREB Fraser Valley Market Reports
March home sales growth off last month’s pace, but supply still building in the Fraser Valley
Home buyers in the Fraser Valley have more choice heading into the spring market with inventory levels for March at the highest they’ve been in the past five years.
However, March sales were slower than anticipated with 1,395 transactions recorded on the Fraser Valley Real Estate Board’s Multiple Listings Service® (MLS®), a 13 per cent increase over February, but still 31 per cent below the 10-year average. Sales were the second lowest recorded for a March in a decade. Active listings were 6,197, up by 11 per cent over last month and by 37 per cent over March 2023.
“With inventory building, buyers now have more opportunities in both the detached and attached markets compared to one year ago,” said Jeff Chadha, Chair of the Fraser Valley Real Estate Board. “However, despite increased options, some buyers may still be waiting on the sidelines for the financing landscape to further settle before they feel comfortable getting back into the market.”
New listings increased 7 per cent in March, to 2,986 but remain 12 per cent below the 10-year average. With a sales-to-active listings ratio of 23 per cent, overall market conditions remain in seller’s market territory. The market is considered balanced when the ratio is between 12 per cent and 20 per cent.
Read the full report on the FVREB website!
The following data is a comparison between March 2024 and March 2023 numbers, and is current as of April 2024. For last month’s report, check out our previous infographic!
Or follow this link for all our FVREB Infographics!
These infographics cover current trends in Fraser Valley neighbourhoods that are within the FVREB. Click on the images for a larger view!
Download Printable Version – FVREB March 2024 Market Report 1
Download Printable Version – FVREB March 2024 Market Report 2
Download Printable Version – FVREB March 2024 Market Report 3
Download Printable Version – FVREB March 2024 Market Report 4
INFOGRAPHICS: February 2024 FVREB Fraser Valley Market Reports
Sales, listings continue to pick up heading into spring
Home sales in the Fraser Valley posted a second consecutive bump in February as new listings continue to rise and trend slightly above the 10-year seasonal average.
The Fraser Valley Real Estate Board recorded 1,235 transactions on its Multiple Listing Service® (MLS®) in February, a 32 per cent increase over January but still 21 per cent below the 10-year average for sales in the region. New listings increased to 2,797 in February, up 18 per cent from January and 4 per cent above the 10-year average.
“There is somewhat of a buzz in the market right now,” said Narinder Bains, Chair of the Fraser Valley Real Estate Board.
“We are seeing new listings come onto the market and REALTORS® continue to see more traffic at open houses, however buyers are still exercising caution. We aren’t out of the woods just yet, but the signs are pointing to a further increase in activity as we head into spring.”
Read the full report on the FVREB website!
The following data is a comparison between February 2024 and February 2023 numbers, and is current as of March 2024. For last month’s report, check out our previous infographic!
Or follow this link for all our FVREB Infographics!
These infographics cover current trends in Fraser Valley neighbourhoods that are within the FVREB. Click on the images for a larger view!
Download Printable Version – FVREB February 2024 Market Report 1
Download Printable Version – FVREB February 2024 Market Report 2
Download Printable Version – FVREB February 2024 Market Report 3
Download Printable Version – FVREB February 2024 Market Report 4
INFOGRAPHICS: January 2024 FVREB Fraser Valley, South Surrey, Etc. Market Reports
Signs of stability in Fraser Valley housing market
The Fraser Valley real estate market showed signs of recovery in January as home sales rose after six consecutive months of decline, and new listings more than doubled.
The Fraser Valley Real Estate Board recorded 938 transactions on its Multiple Listing Service® (MLS®) in January, a 12 per cent increase over December and below the 10-year average for sales in the region.
At 2,368, new listings increased 151 per cent in January, rebounding strongly from the seasonal lull seen in December. This is the largest month-over-month percentage increase in new listings in five years.
“With January sales on the rise, we are seeing hopeful signs that optimism is returning to the market,” said Narinder Bains, Chair of the Fraser Valley Real Estate Board. “Anticipating that we may be at the end of the Bank of Canada rate hike cycle, it appears that more buyers are considering re-entering the market as we are starting to see more traffic at open houses.”
Read the full report on the FVREB website!
The following data is a comparison between January 2024 and January 2023 numbers, and is current as of February 2024. For last month’s report, check out our previous infographic!
Or follow this link for all our FVREB Infographics!
These infographics cover current trends in Fraser Valley neighbourhoods that are within the FVREB. Click on the images for a larger view!
Download Printable Version – FVREB January 2024 Market Report 1
Download Printable Version – FVREB January 2024 Market Report 2
Download Printable Version – FVREB January 2024 Market Report 3
Download Printable Version – FVREB January 2024 Market Report 4
INFOGRAPHICS: December 2023 FVREB Fraser Valley Market Reports
Fraser Valley closes out 2023 with lowest annual sales recorded in 10 years
High interest rates kept a lid on sales and listings in the Fraser Valley in 2023, while holding year-over-year price growth to low single digits.
The Fraser Valley region ended the year with 14,713 sales recorded on its Multiple Listing Service® (MLS®), a decline of four per cent over 2022 and 23 per cent below the 10-year average. New listings in the Fraser Valley were also at a 10-year low, at 29,610, eight per cent below the 10-year average.
The composite Benchmark home price in the Fraser Valley closed the year at $988,900, down six per cent from its 2023 peak in July, but up on the year by five per cent.
“Back-to-back mid-year interest rate hikes slowed the market despite strong sales and new listings in the spring,” said Narinder Bains, Chair of the Fraser Valley Real Estate Board. “This left the market in overall balance for the latter half of the year, albeit at low levels of activity. We anticipate 2024 will bring increased optimism on behalf of buyers and sellers as the Bank of Canada is expected to lower interest rates before mid-year.”
Read the full report on the FVREB website!
The following data is a comparison between December 2023 and December 2022 numbers, and is current as of January 2024. For last month’s report, check out our previous infographic!
Or follow this link for all our FVREB Infographics!
These infographics cover current trends in Fraser Valley neighbourhoods that are within the FVREB. Click on the images for a larger view!
Download Printable Version – FVREB December 2023 Market Report 1
Download Printable Version – FVREB December 2023 Market Report 2
Download Printable Version – FVREB December 2023 Market Report 3
Download Printable Version – FVREB December 2023 Market Report 4
The data relating to real estate on this website comes in part from the MLS® Reciprocity program of either the Greater Vancouver REALTORS® (GVR), the Fraser Valley Real Estate Board (FVREB) or the Chilliwack and District Real Estate Board (CADREB). Real estate listings held by participating real estate firms are marked with the MLS® logo and detailed information about the listing includes the name of the listing agent. This representation is based in whole or part on data generated by either the GVR, the FVREB or the CADREB which assumes no responsibility for its accuracy. The materials contained on this page may not be reproduced without the express written consent of either the GVR, the FVREB or the CADREB.