Lana Wu

SOUTH SURREY | WHITE ROCK | RICHMOND | VANCOUVER

Fraser Valley Market Report Infographics

Thursday, April 4, 2024 4:02:56 PM UTC
INFOGRAPHICS: March 2024 FVREB Fraser Valley, South Surrey, Etc. Market Reports
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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

 

 

 

 

 

 


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INFOGRAPHICS: February 2024 FVREB Fraser Valley, South Surrey, Etc. Market Reports
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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

 

 

 

 

 

 


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INFOGRAPHICS: January 2024 FVREB Fraser Valley, South Surrey, Etc. Market Reports
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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

 

 

 

 

 

 


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INFOGRAPHICS: December 2023 FVREB Fraser Valley, South Surrey, Etc. Market Reports
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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

 

 

 

 

 

 


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INFOGRAPHICS: November 2023 FVREB Fraser Valley, South Surrey, Etc. Market Reports
Real Estate Landing Pages to Promote Neighbourhoods

Home sales fall for fifth straight month in the Fraser Valley

The Fraser Valley real estate market continues to cool heading into the holiday season as buyers and sellers maintain the holding pattern seen over the latter half of this year.

The Fraser Valley Real Estate Board recorded 891 transactions on its Multiple Listing Service® (MLS®) in November, a drop of 8 per cent from the previous month, representing the 9th slowest November in a decade.
At 2,030 new listings also fell again, decreasing by 20 per cent from October and by 43 per cent since peaking in May at 3,533.

“As we head into the holiday season, buyers and sellers are busy with other priorities and will most likely continue to wait on the sidelines,” said Narinder Bains, Chair of the Fraser Valley Real Estate Board. “We anticipate this holding pattern, defined by slow sales and declining new listings, will continue through the winter months until we see some downward movement in interest rates.”

Active listings in November were 6,254, down by 5 per cent over last month and up by 17 per cent over November 2022. The sales-to-active listings ratio was 14 per cent, creating balanced conditions in the overall market. Detached houses are in balanced market territory at 12 per cent, while both townhomes and apartments remain in seller’s market territory. The market is considered balanced when the ratio is between 12 per cent and 20 per cent.

“With seasonality and high interest rates continuing to dampen sales activity, we expect to see sales slow further into early 2024,” said FVREB CEO Baldev Gill. “However, even a slow market can present opportunities, and buyers would be well-advised to work with a knowledgeable, professional REALTOR® who can provide expert advice and guidance.”

Read the full report on the FVREB website!

 


 

The following data is a comparison between November 2023 and November 2022 numbers, and is current as of December 2023. 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 November 2023 Market Report 1

Download Printable Version – FVREB November 2023 Market Report 2

Download Printable Version – FVREB November 2023 Market Report 3

Download Printable Version – FVREB November 2023 Market Report 4

 

 

 

 

 

 


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INFOGRAPHICS: October 2023 FVREB Fraser Valley, South Surrey, Etc. Market Reports
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Fraser Valley real estate market weakens as sales and prices continue to edge downward

Property sales and new listings in the Fraser Valley fell again in October as consumers continued to put home buying and selling decisions on hold in the face of elevated interest rates.

The Fraser Valley Real Estate Board recorded 970 transactions on its Multiple Listing Service® (MLS®) in October, a drop of 12 per cent from the previous month and the fourth consecutive decrease since the 12- month high of 1,935 sales recorded in June.

At 2,535, new listings also fell again, decreasing by 11 per cent from September and by 28 per cent since peaking in May at 3,533.

“What we’re seeing in the Fraser Valley and indeed across the province is the impact of sustained high interest rates on the overall market,” said Narinder Bains, Chair of the Fraser Valley Real Estate Board. “This has been the case since the latter half of the year so far, and we anticipate the trend will continue until we start to see some downward movement in the policy rate.”

Read the full report on the FVREB website!

 


 

The following data is a comparison between October 2023 and October 2022 numbers, and is current as of November 2023. 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 October 2023 Market Report 1

Download Printable Version – FVREB October 2023 Market Report 2

Download Printable Version – FVREB October 2023 Market Report 3

Download Printable Version – FVREB October 2023 Market Report 4

 

 

 

 

 

 


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INFOGRAPHICS: September 2023 FVREB Fraser Valley, South Surrey, Etc. Market Reports
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Fraser Valley market balanced, as demand softens and prices edge lower

Continued slowing sales and a healthy rise in new listings in September has brought the Fraser Valley housing market into balance. Three months of declining sales has seen Benchmark prices dip for a second straight month.

The Fraser Valley Real Estate Board recorded 1,100 sales on its Multiple Listing Service® (MLS®) in September 2023, a decrease of 13.6 per cent compared to August. Sales were up 22.6 per cent compared to September 2022.

New listings rose to 2,860 in September, an increase of 9.1 per cent over last month, and 25.8 per cent above this time last year. Active listings have been rising since last December and grew again in September by 3.8 per cent to 6,532, 3.5 per cent below the ten-year average.

“With inventory levels continuing on a slow and steady rise, together with slow sales, what we are seeing is a more balanced market,” said Narinder Bains, Chair of the Fraser Valley Real Estate Board. “If this trend continues, increased new listings will help to maintain a balanced market, giving buyers greater choice.”

Read the full report on the FVREB website!

 


 

The following data is a comparison between September 2023 and September 2022 numbers, and is current as of October 2023. 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 2023 Market Report 1

Download Printable Version – FVREB September 2023 Market Report 2

Download Printable Version – FVREB September 2023 Market Report 3

Download Printable Version – FVREB Septembert 2023 Market Report 4

 

 

 

 

 

 


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INFOGRAPHICS: August 2023 FVREB Fraser Valley, South Surrey, Etc. Market Reports

Fraser Valley real estate sales dip in August; prices hold steady

A combination of seasonal trends and cautious anticipation of the next rate announcement saw the Fraser Valley real estate market slow in August as sales fell slightly for the second month, after reaching a 15-month high in June.

The Fraser Valley Real Estate Board recorded 1,273 sales on its Multiple Listing Service (MLS®) in August 2023, a decrease of 6.9 per cent compared to July. Sales were up 25.2 per cent compared to August 2022.

New listings dropped to 2,622 in August, a decrease of 8.2 per cent over last month, but 28.2 per cent above this time last year. Active listings have been rising since last December and grew again in August by 1.5 per cent to 6,291, just 7 per cent off the ten-year average.

Read the full report on the FVREB website!

 


 

The following data is a comparison between August 2023 and August 2022 numbers, and is current as of September 2023. 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 2023 Market Report 1

Download Printable Version – FVREB August 2023 Market Report 2

Download Printable Version – FVREB August 2023 Market Report 3

Download Printable Version – FVREB August 2023 Market Report 4

 

 

 

 

 

 


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INFOGRAPHICS: July 2023 FVREB Fraser Valley, South Surrey, Etc. Market Reports
interior design shot

Seasonality, interest rates temper sales in the Fraser Valley

After five months of successive increases, real estate sales in the Fraser Valley dropped in response to a combination of continued rising interest rates and the summer sales cycle.

The Fraser Valley Real Estate Board processed 1,368 sales in July on its Multiple Listing Service® (MLS®), a decrease of 29.3 per cent below June, but still 37.8 per cent above July 2022.

July new listings, at 2,855, were also down by 16.6 per cent compared to last month but 19.7 per cent higher than July 2022 levels, and virtually on par with the ten-year average. Active listings continued to climb, increasing by 4.3 per cent over June, bringing the total inventory available for sale in the region to 6,199.

“Summer is typically a slower period for the real estate sector and the higher interest rates are contributing to the market slowdown,” said Narinder Bains, Chair of the Fraser Valley Real Estate Board. “We’re seeing less traffic and fewer multiple offers as buyers and sellers put a pause on decisions and we expect this trend to continue until the fall cycle.”

The market for detached homes softened in July with a sales-to-active listings ratio of 17 per cent while demand for townhomes and apartments remained firm at 45 per cent and 36 per cent respectively. The market is considered balanced when the sales-to-active-listing 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 July 2023 and July 2022 numbers, and is current as of August 2023. 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 2023 Market Report 1

Download Printable Version – FVREB July 2023 Market Report 2

Download Printable Version – FVREB July 2023 Market Report 3

Download Printable Version – FVREB July 2023 Market Report 4

 

 

 

 

 

 


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INFOGRAPHICS: June 2023 FVREB Fraser Valley, South Surrey, Etc. Market Reports
interior design shot

Low supply continues to impact home pricing in the Fraser Valley: Sales increasing despite rate hikes

The Fraser Valley real estate market saw strong sales activity in June with levels on par with the 10-year average for the month, amid on-going challenges with supply.

In June, the Fraser Valley Real Estate Board (FVREB) processed 1,935 sales on its Multiple Listing Service® (MLS®), an increase of 51.1 per cent compared to June 2022 and a 13.1 per cent increase compared to May.

“As seen in recent months, prices continue to trend upward, with lack of supply and high demand for housing,“ said Narinder Bains, Chair of the Fraser Valley Real Estate Board. “What we’re seeing is sales increasing, with buyers entering the market despite current financial implications of anticipated rate hikes.”

The Board received 3,424 new listings in June, an increase of 2.8 per cent compared to last year, and a decrease of 3.1 per cent compared to May 2023. The month ended with a total active inventory of 5,944, a 6.9 per cent increase compared to May, and 8.2 per cent less than June of last year.

“A number of factors are at play in the Fraser Valley market, from low supply to unprecedented interest rates – the highest in more than 20 years,” said Board CEO, Baldev Gill. “For those seeking to enter the market, whether buying or selling, only a professional REALTOR® can provide the expert guidance and advice to fully evaluate each clients’ needs, and to protect their interests.”

Read the full report on the FVREB website!

 


 

The following data is a comparison between June 2023 and June 2022 numbers, and is current as of July 2023. 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 2023 Market Report 1

Download Printable Version – FVREB June 2023 Market Report 2

Download Printable Version – FVREB June 2023 Market Report 3

Download Printable Version – FVREB June 2023 Market Report 4

 

 

 

 

 

 


Custom real estate infographics published by myRealPage.com

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Lana Wu
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White Rock Office: 604 541 4888
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Reciprocity Logo 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.