Fraser Valley sales dip below 10-year average for first time in nearly two years

Property sales in the Fraser Valley decreased by over 35 per cent in April 2022 compared to the previous month, and while the figure is still the sixth-highest April on record for the past ten years, it marks the first time monthly sales have fallen below the ten-year average since June 2020

In April, the Fraser Valley Real Estate Board (FVREB) processed 1,637 sales on its Multiple Listing Service® (MLS®), a decrease of 45.7 per cent compared to April 2021 and a 36.6 per cent decrease compared to March.

MLS® HPI Benchmark Price Activity

• Single Family Detached: At $1,731,000, the Benchmark price for an FVREB single-family detached home increased 0.2 per cent compared to March 2022 and increased 33.8 per cent compared to April 2021.
• Townhomes: At $902,500, the Benchmark price for an FVREB townhome increased 1.8 per cent compared to March 2022 and increased 38.3 per cent compared to April 2021.
• Apartments: At $649,500 the Benchmark price for an FVREB apartment/condo increased 1.0 per cent compared to March 2022 and increased 35.6 per cent compared to April 2021.

Find the Fraser Valley Real Estate Board April Statistics Package here. 

Thanks, 
Sunny Kaler – PREC
REMAX Blueprint Realty