A market of extremes: near record sales in August combined with lowest supply in four decades

Demand for Fraser Valley real estate remained elevated in August reaching the second highest sales ever for the month against a backdrop of decreasing supply.

The Board processed a total of 2,087 property sales on its Multiple Listing Service® (MLS®) in August, an increase of 4.0 per cent compared to July and a 2.4 per cent increase compared to the same month last year.  Sales remained unusually high for the month; second only to August of 2005.

Statistics Package 2021-08 – Fraser Valley

MLS® HPI Benchmark Price Activity

• Single Family Detached: At $1,336,800, the Benchmark price for an FVREB single-family detached home increased 1.3 per cent compared to July 2021 and increased 31.1 per cent compared to August 2020.
• Townhomes: At $697,500, the Benchmark price for an FVREB townhome increased 1.3 per cent compared to July 2021 and increased 23.7 per cent compared to August 2020.
• Apartments: At $498,800, the Benchmark price for an FVREB apartment/condo increased 1.0 per cent compared to July 2021 and increased 14.1 per cent compared to August 2020.

If you have any questions about the monthly stats then please feel free to reach out to me or you can view the full stats package from FVREB website.

Thanks,
Sunny Kaler – PREC
REMAX Blueprint Realty