Real Estate Market Stats for October 2020 – Exceptional Sales Volume in the Fraser Valley

The ongoing demand for Fraser Valley real estate saw overall sales reach the highest point for the month of October in the Fraser Valley Real Estate Board’s history. This is the fourth consecutive month of record-breaking or near-record activity for sales and new listings in the region. The demand of single family homes has been extremely high despite the unprecedented pandemic we are currently facing. Full market stats report can also be viewed here.

The Fraser Valley Real Estate Board processed 2,370 sales of all property types on its Multiple Listing Service® (MLS®) in October, an increase of 48.9 per cent compared to the 1,592 sales in October of last year, and an 6.2 per cent increase month-over-month compared to the 2,231 sales in September.

MLS® HPI Benchmark Price Activity

• Single Family Detached: At $1,046,900 the Benchmark price for a single-family detached home in the Fraser Valley increased 1.4 per cent compared to September and, increased 9.9 per cent compared to October 2019.
• Townhomes: At $569,200, the Benchmark price for a townhome in the Fraser Valley increased 0.3 per cent compared to September and increased 5.0 per cent compared to October 2019.
• Apartments: At $434,600, the Benchmark price for apartments/condos in the Fraser Valley decreased by 0.5 per cent compared to September and increased 4.2 per cent compared to October 2019.

Would you like to inquire about what these stats mean for your residential property. Then feel free to call me today to schedule your complimentary home evaluation. I will prepare a customized report that’s tailored to your neighbourhood.

If you are looking to buy or sell real estate in Surrey, Delta, Cloverdale, Langley or any of the neighbouring cities then call me today. We offer FREE home evaluation with no strings attached.