Stats Update as we go into September 
đWatch this video as Sat explains the Fraser Valley Market Stats of August 2022 ACTUALLY mean!
In August, the Fraser Valley Real Estate Board (FVREB) processed 1,017 sales on its MLS, an increase of 2.4% compared to last month and a 51.3% decrease compared to this time last year.
In the Fraser Valley, the detached market has a sales to active ratio of 14% which tells us that 14% of homes that are listed are actually selling. Sales have come down 51% from last year,
Months of Inventory in the Fraser Valley for detached homes is at 7 months determining that we are in a buyer’s market.
Across the Fraser Valley in August, the average number of days to sell a single-family detached home increased to 33 and for townhomes to 26 days. Apartments took, on average, 25 days to sell.
MLSÂŽ HPI Benchmark Price Activity
- Single Family Detached: At $1,513,500, the Benchmark price for an FVREB single-family detached home decreased 5.1% compared to July 2022 and increased 9.8% compared to August 2021.
- Townhomes: At $841,900, the Benchmark price for an FVREB townhome decreased 3.9% compared to July 2022 and increased 16.1% compared to August 2021.
- Apartments: At $542,000 the Benchmark price for an FVREB apartment/condo decreased 2.1% compared to July 2022 and increased 18.4% compared to August 2021.
If you have any further questions or would like more information about this topic, feel free to reach out to us!Â
Resource:Â The Fraser Valley Real Estate Board