The document summarizes May 2022 real estate market statistics for the Fraser Valley region of British Columbia. It reports that home sales decreased 16.9% month-over-month and 53.9% year-over-year in May. Active listings increased 5.4% year-over-year and 14.8% from April, restoring balance to the market. Benchmark home prices decreased for the first time since 2019 for detached homes, townhomes, and apartments in May.
Fraser Valley Real Estate Board May 2023 Statistics Package with charts and graphs. Delayed spring activity boosts supply of property listings in the Fraser Valley. At 3,533, new listings were just below May 2022 levels (3,631) but slightly higher (2.7 per cent) than the ten-year average for the region. A welcome trend towards alleviating housing supply issues.
FVREB March 2023 Statistics Package.pdfVickyAulakh1
Fraser Valley Real Estate Board March 2023 Statistics Package with charts and graphs. Momentum continues to build in the Fraser Valley real estate market. SURREY, BC – March 2023 saw the second consecutive month of growth in sales in the Fraser Valley, and although still below seasonal norms, the trend is an encouraging sign that the region continues to head towards increased market stability. At 1,550, property sales posted on the FVREB’s Multiple Listings Service (MLS®) were 72.6 per cent higher than sales recorded last month. Although 39.9 per cent lower than a year ago and nearly 25 per cent below the ten-year average, it marks the first time since August that monthly sales exceeded the 1,000 level.
Fraser Valley Real Estate Board February 2023 Statistics Package with charts and graphs. Signs of stability in Fraser Valley create opportunities for home
buyers and sellers. SURREY, BC — House prices in the Fraser Valley posted a slight but positive bump in February after nearly a year of month-over-month decreases. Similarly, sales, though still trending lower than normal, also recorded their first monthly gain since October.
Fraser Valley Real Estate Board November 2022 Statistics. New listings lag as Fraser Valley real estate market sees third month of declining sales. With sales down almost seven per cent from October, and new listings off by more than 20 per cent, the Fraser Valley housing market continues its slowing trend heading into the holiday season. Despite the market slowdown, opportunities are available, as evidenced by brisk turnover time frames. In November, the Fraser Valley Real Estate Board (FVREB) processed 839 sales on its Multiple Listing Service® (MLS®), a 6.9 per cent decrease compared to October and a decrease of 57.5 per cent compared to November 2021.
Fraser Valley Real Estate Board May 2023 Statistics Package with charts and graphs. Delayed spring activity boosts supply of property listings in the Fraser Valley. At 3,533, new listings were just below May 2022 levels (3,631) but slightly higher (2.7 per cent) than the ten-year average for the region. A welcome trend towards alleviating housing supply issues.
FVREB March 2023 Statistics Package.pdfVickyAulakh1
Fraser Valley Real Estate Board March 2023 Statistics Package with charts and graphs. Momentum continues to build in the Fraser Valley real estate market. SURREY, BC – March 2023 saw the second consecutive month of growth in sales in the Fraser Valley, and although still below seasonal norms, the trend is an encouraging sign that the region continues to head towards increased market stability. At 1,550, property sales posted on the FVREB’s Multiple Listings Service (MLS®) were 72.6 per cent higher than sales recorded last month. Although 39.9 per cent lower than a year ago and nearly 25 per cent below the ten-year average, it marks the first time since August that monthly sales exceeded the 1,000 level.
Fraser Valley Real Estate Board February 2023 Statistics Package with charts and graphs. Signs of stability in Fraser Valley create opportunities for home
buyers and sellers. SURREY, BC — House prices in the Fraser Valley posted a slight but positive bump in February after nearly a year of month-over-month decreases. Similarly, sales, though still trending lower than normal, also recorded their first monthly gain since October.
Fraser Valley Real Estate Board November 2022 Statistics. New listings lag as Fraser Valley real estate market sees third month of declining sales. With sales down almost seven per cent from October, and new listings off by more than 20 per cent, the Fraser Valley housing market continues its slowing trend heading into the holiday season. Despite the market slowdown, opportunities are available, as evidenced by brisk turnover time frames. In November, the Fraser Valley Real Estate Board (FVREB) processed 839 sales on its Multiple Listing Service® (MLS®), a 6.9 per cent decrease compared to October and a decrease of 57.5 per cent compared to November 2021.
Fraser Valley Real Estate Board September 2022 Statistics with charts and graphs.
SURREY, BC – Continued slowing sales and a slight rise in inventory in September combined to bring greater stability to the Fraser Valley housing market.
In September, the Fraser Valley Real Estate Board (FVREB) processed 897 sales on its Multiple Listing Service®
(MLS®), a decrease of 11.8 per cent compared to last month and a 51.9 per cent decrease compared to this time last year.
FVREB April 2023 Statistics Package.pdfVickyAulakh1
April 2023 Fraser Valley Real Estate Board Statistics Package with Charts & Graphs. Spring sales hold steady in Fraser Valley real estate market. SURREY, BC – Despite persistent inventory shortfalls, housing sales in the Fraser Valley remained steady in April as buyers took advantage of the continued pause in interest rate hikes.
Fraser Valley Real Estate Board December 2022 Statistics. Fraser Valley real estate market 2022 – highs, lows, and a return to balance. SURREY, BC – In a year that saw prices peak early on, feeding off the momentum of record-breaking sales in 2021, the Fraser Valley real estate market came back down to earth by the close of 2022, due largely to interest rate increases designed to stave off inflation.
October 2022 Fraser Valley Real Estate Board Statistics Package with Charts & Graphs. Housing prices remain soft, sales flat, throughout the Fraser Valley. SURREY, BC – Fraser Valley housing market sales for October remained relatively unchanged from last month as
prices dipped slightly across all categories. In October, the Fraser Valley Real Estate Board (FVREB) processed 901 sales on its Multiple Listing Service® (MLS®), an increase of 0.4 per cent compared to last month and a 53.5 per cent decrease compared to this time last year.
Fraser Valley Real Estate Board January 2023 Statistics Package with charts and graphs. Fraser Valley real estate sales record slowest annual start in ten years; January new listings lowest in over thirty years
SURREY, BC – The downward trend in Fraser Valley real estate sales continued in January as further interest rate hikes kept buyers sidelined.
April 2023 Okanagan Real Estate Stats. Local Residential Real Estate Market Picking Up Speed.
KELOWNA, B.C. – June 6, 2023. Residential real estate market sales are picking up the pace after a sluggish spring market start, reports the Association of Interior REALTORS® (the Association). A total of 1,662 residential unit sales were recorded across the Association region in May representing a mild 3.4% decrease in sales compared to the same month last year, yet up compared to April’s 1,226 unit sales.
Fraser Valley Real Estate Board September 2022 Statistics with charts and graphs.
SURREY, BC – Continued slowing sales and a slight rise in inventory in September combined to bring greater stability to the Fraser Valley housing market.
In September, the Fraser Valley Real Estate Board (FVREB) processed 897 sales on its Multiple Listing Service®
(MLS®), a decrease of 11.8 per cent compared to last month and a 51.9 per cent decrease compared to this time last year.
FVREB April 2023 Statistics Package.pdfVickyAulakh1
April 2023 Fraser Valley Real Estate Board Statistics Package with Charts & Graphs. Spring sales hold steady in Fraser Valley real estate market. SURREY, BC – Despite persistent inventory shortfalls, housing sales in the Fraser Valley remained steady in April as buyers took advantage of the continued pause in interest rate hikes.
Fraser Valley Real Estate Board December 2022 Statistics. Fraser Valley real estate market 2022 – highs, lows, and a return to balance. SURREY, BC – In a year that saw prices peak early on, feeding off the momentum of record-breaking sales in 2021, the Fraser Valley real estate market came back down to earth by the close of 2022, due largely to interest rate increases designed to stave off inflation.
October 2022 Fraser Valley Real Estate Board Statistics Package with Charts & Graphs. Housing prices remain soft, sales flat, throughout the Fraser Valley. SURREY, BC – Fraser Valley housing market sales for October remained relatively unchanged from last month as
prices dipped slightly across all categories. In October, the Fraser Valley Real Estate Board (FVREB) processed 901 sales on its Multiple Listing Service® (MLS®), an increase of 0.4 per cent compared to last month and a 53.5 per cent decrease compared to this time last year.
Fraser Valley Real Estate Board January 2023 Statistics Package with charts and graphs. Fraser Valley real estate sales record slowest annual start in ten years; January new listings lowest in over thirty years
SURREY, BC – The downward trend in Fraser Valley real estate sales continued in January as further interest rate hikes kept buyers sidelined.
April 2023 Okanagan Real Estate Stats. Local Residential Real Estate Market Picking Up Speed.
KELOWNA, B.C. – June 6, 2023. Residential real estate market sales are picking up the pace after a sluggish spring market start, reports the Association of Interior REALTORS® (the Association). A total of 1,662 residential unit sales were recorded across the Association region in May representing a mild 3.4% decrease in sales compared to the same month last year, yet up compared to April’s 1,226 unit sales.
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1. Fraser Valley Real Estate Board
Monthly Statistics Package
May 2022
Effective, May 2022, the MLS® HPI underwent its annual review and has been
updated back to January 2005 to reflect any historical revisions. FVREB
monthly statistics packages reflect indices and Benchmark prices at that point
in time. For the most up-to-date data, see current reports.
2. News Release
Fraser Valley Real Estate Board
Contact lilian.choi@fvreb.bc.ca
Lilian Choi, Communications Manager Telephone 604.930.7656
Fraser Valley Real Estate Board www.fvreb.bc.ca
www.fvreb100.ca
For Immediate Release: June 2, 2022
Home prices soften as Fraser Valley housing market cools
amid lower sales and higher inventory
SURREY, BC – As property sales continue to fall in the Fraser Valley and active listings continue to grow, the region
is edging towards more balanced levels not seen since the pre-pandemic period.
Sales of all property types in May were 1,360, down 16.9 per cent from April’s 1,637; and down 53.9 per cent
compared to May of 2021.
At the same time, active listings (the number of properties available for sale at a given moment during the month,
in this case at the end of May) have more than tripled since December 2021. At the end of May, actives sat at
6,183, up 5.4 per cent year-over-year, and an increase of 14.8 per cent compared to April 2022.
The sales-to-active-listings ratio measures whether the market is balanced (12% to 20%) or favours either buyers
(less than 12%) or sellers (greater than 20%). In May, the ratio for Fraser Valley all property types combined was 22
per cent, comparable to pre-pandemic conditions in early 2020. By comparison, during the pandemic, the ratio
peaked at 92 per cent, indicating a strong seller’s market.
“Since March, we’ve seen sales come down with an accompanying increase in inventory, subsequently restoring
much-needed balance and cooling our heated market,” said Fraser Valley Real Estate Board President, Sandra
Benz. “While still early, it suggests that as we gradually settle into a post-pandemic state of work and life, the big
pandemic-era drivers – working from home and record low interest rates – may have run their course.”
In May, MLS® HPI Benchmark prices for all three main property types decreased month-over-month for the first
time since September 2019.
“The softening of prices will be welcome news for homebuyers, especially in the face of rising mortgage rates,”
said Fraser Valley Real Estate Board CEO, Baldev Gill. “The volatility we’ve witnessed over the past couple of years
not only underscores the power of external events to affect the market but, in light of recent trends, the ability of
the market itself, to adapt and trigger corrective mechanisms.”
MLS® HPI Benchmark Price Activity*
• Single Family Detached: At $1,712,500, the Benchmark price for an FVREB single-family detached home
decreased 2.4 per cent compared to April 2022 and increased 26.2 per cent compared to May 2021.
• Townhomes: At $918,900, the Benchmark price for an FVREB townhome decreased 1.4 per cent
compared to April 2022 and increased 31.3 per cent compared to May 2021.
• Apartments: At $581,400 the Benchmark price for an FVREB apartment/condo decreased 1.1 per cent
compared to April 2022 and increased 30.0 per cent compared to May 2021.
*The MLS® HPI measures the change in home prices in Canada and in May 2022, current and historical data underwent an annual update to ensure a more precise
picture of home price trends.
—30 —
The Fraser Valley Real Estate Board is an association of 4,681 real estate professionals who live and work in the BC communities of
Abbotsford, Langley, Mission, North Delta, Surrey, and White Rock.