Stats Update as we go into October
Watch this video as Sat explains the Fraser Valley Market Stats of September 2022!
In September, the Fraser Valley Real Estate Board (FVREB) processed 897 sales on its MLS®, a decrease of 11.8% compared to last month and a 51.9% decrease compared to this time last year.
In the Fraser Valley, the detached market has a sales to active ratio of 13% which tells us that 13% of homes that are listed are actually selling. Sales have come down 51.9% from last year,
Months of Inventory in the Fraser Valley for detached homes is at 7.4 months determining that we are in a buyer’s market.
Across the Fraser Valley in September, the average number of days spent on the market before selling continued to increase: 34 days for a single-family detached, 32 for townhomes, and 30 for apartments.
| MLS® HPI Benchmark Price Activity Single Family Detached: At $1,462,000, the Benchmark price for an FVREB single-family detached home decreased 3.4 per cent compared to August 2022 and increased 4.1 per cent compared to September 2021. Townhomes: At $822,400, the Benchmark price for an FVREB townhome decreased 2.3 per cent compared to August 2022 and increased 11.6 per cent compared to September 2021. Apartments: At $530,400 the Benchmark price for an FVREB apartment/condo decreased 2.1 per cent compared to August 2022 and increased 14.5 per cent compared to September 2021. |
If you have any further questions or would like more information about this topic, feel free to reach out to us!
Resource: The Fraser Valley Real Estate Board