FRASER VALLEY REAL ESTATE BOARD SEPTEMBER 2021
INTRODUCTION Use data as a basis for decision making… At Fifth Avenue we have hired Knew Realty Research (Knew) to meticulously and methodically take the time to comb through statistics provided by real estate boards to create this report. Gone are the days of just numbers on a page, through visual analytics allows us to help you identify general market trends in your area and benchmark it to the performance of other regions.
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Fifth Avenue - Introduction
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TABLE OF CONTENTS Click on a housing type below to get started…
SINGLE FAMILY TOWNHOME CONDOMINIUM To get back to this menu at any time click on the logo in the top right corner of each page. Please enjoy.
Fifth Avenue – Table of Contents
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SINGLE FAMILY
2016
2017
2018
2019
2020
1600
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1200
SALES
CURRENTLY IN THE FRASER VALLEY REAL ESTATE BOARD IT IS A SELLERS MARKET FOR SINGLE FAMILY STYLE HOMES.
2021 1800
686 Single Family style homes sold in the Fraser Valley Real Estate Board in September 2021. This represents a decrease of 92 unit sales, or -12% when compared to the 778 sales observed last month. When comparing the current month's sales (686 sales) to the 929 sales observed in September of 2020, sales have decreased by 243 units, or -26%.
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February
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April
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Chart 1: FVREB Single Family Sales Source: Fraser Valley Real Estate Board - REALTORS ®
2021
2016
2017
2018
2019
2020
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INVENTORY
1297 Single Family style homes were available for purchase in the Fraser Valley Real Estate Board in September 2021; this represents a decrease of 113 units, or -8% when compared to the 1410 units observed in inventory last month. When comparing this months inventory (1297 units) to the 2518 units of available inventory observed in September of 2020, inventory has
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Chart 2: FVREB Single Family Inventory Source: Fraser Valley Real Estate Board - REALTORS ®
Fifth Avenue – Single Family
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FRASER VALLEY REAL ESTATE BOARD SINGLE FAMILY AVERAGE PRICE
SEPTEMBER 2021
$1,600,000
$1,491,989
$1,400,000
AVERAGE PRICE
$1,200,000
$1,000,000
$800,000
$600,000
$400,000 Qtr 1
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Qtr 4
2015
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Qtr 2
2016
Chart 3: Historical Single Family Average Sales Price Source: Fraser Valley Real Estate Board - REALTORS ®
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Qtr 3 2018
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Qtr 3 2019
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Qtr 3 2020
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2021
Fifth Avenue – Single Family
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$1,491,989 is the average price for a Single Family style home sold in September 2021. This represents an increase of $26,225 in the average sales price, or 1.8% when compared to the average price of sales observed last month ($1,465,764). When comparing the current months average sale price ($1,491,989) to the average sale price $1,138,862 observed in September of 2020, the sale price has increased by $353,127, or 31%. When looking at September YTD Single Family sales for each respective year since 2015, 2021 sales currently rank 2nd. SALES 12000
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SALES (YTD)
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0 September 2015 September 2016 September 2017 September 2018 September 2019 September 2020 September 2021 YTD YTD YTD YTD YTD YTD YTD
Chart 4: Single Family Sales YTD Comparison Source: Fraser Valley Real Estate Board - REALTORS ®
Fifth Avenue – Single Family
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TOWNHOME
2016
2017
2018
2019
2020
800
700
600
SALES
CURRENTLY IN THE FRASER VALLEY REAL ESTATE BOARD IT IS A SELLERS MARKET FOR TOWNHOME STYLE HOMES.
2021 900
500
400
443 Townhome style homes sold in the Fraser Valley Real Estate Board in September 2021. This represents a decrease of 67 unit sales, or -13% when compared to the 510 sales observed last month. When comparing the current months sales (443 sales) to the 555 sales observed in September of 2020, sales have decreased by 112 units, or -20%.
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February
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December
November
December
Chart 5: FVREB Townhome Sales Source: Fraser Valley Real Estate Board - REALTORS ®
2021
2016
2017
2018
2019
2020
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INVENTORY
493 Townhome style homes were available for purchase in the Fraser Valley Real Estate Board in September 2021; this represents a decrease of 51 units, or -9% when compared to the 544 units observed in inventory last month. When comparing this months inventory (493 units) to the 1297 units of available inventory observed in September of 2020, inventory has decreased by 804
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February
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October
Chart 6: FVREB Townhome Inventory Source: Fraser Valley Real Estate Board - REALTORS ®
Fifth Avenue - Townhome
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FRASER VALLEY REAL ESTATE BOARD TOWNHOME AVERAGE PRICE SEPTEMBER 2021
$773,728
$800,000 $750,000 $700,000
AVERAGE PRICE
$650,000 $600,000 $550,000
$500,000 $450,000 $400,000 $350,000 $300,000 Qtr 1
Qtr 2
Qtr 3
Qtr 4
2015
Qtr 1
Qtr 2
Qtr 3
Qtr 4
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Qtr 2
2016
Chart 7: Historical Townhome Average Sales Price Source: Fraser Valley Real Estate Board - REALTORS ®
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Qtr 3 2018
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Qtr 3 2019
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2021
Fifth Avenue - Townhome
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$773,728 is the average price for a Townhome style home sold in September 2021; this represents an increase of $35,794 in the average sales price, or 4.9% when compared to the average price of sales observed last month ($737,934). When comparing the current months average sale price ($773,728) to the average sale price $606,486 observed in September of 2020, the sale price has increased by $167,242, or 28%. When looking at September YTD Townhome sales for each respective year since 2015, 2021 sales currently rank 1st. SALES 6000
5000
SALES (YTD)
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3000
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1000
0 September 2015 September 2016 September 2017 September 2018 September 2019 September 2020 September 2021 YTD YTD YTD YTD YTD YTD YTD
Chart 8: FVREB Townhome Sales YTD Comparison Source: Fraser Valley Real Estate Board - REALTORS ®
Fifth Avenue - Townhome
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CONDOMINIUM
2016
2017
2018
2019
2020
800
700
600
SALES
CURRENTLY IN THE FRASER VALLEY REAL ESTATE BOARD IT IS A SELLERS MARKET FOR CONDOMINIUM STYLE HOMES.
2021 900
500
400
561 Condominium style homes sold in the Fraser Valley Real Estate Board in September 2021. This represents a decrease of 39 unit sales, or -7% when compared to the 600 sales observed last month. When comparing the current months sales (561 sales) to the 482 sales observed in September of 2020, sales have increased by 79 units, or 16%.
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Chart 9: FVREB Condominium Sales Source: Fraser Valley Real Estate Board - REALTORS ®
2021
2016
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INVENTORY
883 Condominium style homes were available for purchase in the Fraser Valley Real Estate Board in September 2021; this represents a decrease of 29 units, or -3%, when compared to the 912 units observed in inventory last month. When comparing this months inventory (883 units) to the 1804 units of available inventory observed in September of 2020, inventory has
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Chart 10: FVREB Condominium Inventory Source: Fraser Valley Real Estate Board - REALTORS ®
Fifth Avenue - Condominium
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FRASER VALLEY REAL ESTATE BOARD CONDOMINIUM AVERAGE PRICE
SEPTEMBER 2021
$550,000
$493,188 $500,000
AVERAGE PRICE
$450,000
$400,000
$350,000
$300,000
$250,000
$200,000
$150,000 Qtr 1
Qtr 2
Qtr 3
Qtr 4
2015
Qtr 1
Qtr 2
Qtr 3 2016
Qtr 4
Qtr 1
Qtr 2
Qtr 3 2017
Chart 11: Historical Condominium Average Sales Price Source: Fraser Valley Real Estate Board - REALTORS ®
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Qtr 3 2018
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Qtr 3 2019
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Qtr 3 2020
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2021
Fifth Avenue - Condominium
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$493,188 is the average price for a Condominium style home sold in September 2021; this represents an increase of $3,450 in the average sales price, or 0.7% when compared to the average price of sales observed last month ($489,738). When comparing the current months average sale price ($493,188) to the average sale price $426,472 observed in September of 2020, the sale price has increased by $66,716, or 16%. When looking at September YTD Condominium sales for each respective year since 2015, 2021 sales currently rank 1st. SALES 6000
5000
SALES (YTD)
4000
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0 September 2015 September 2016 September 2017 September 2018 September 2019 September 2020 September 2021 YTD YTD YTD YTD YTD YTD YTD
Chart 12: FVREB Condominium Sales YTD Comparison Source: Fraser Valley Real Estate Board - REALTORS ®
Fifth Avenue - Condominium
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Fifth Avenue – Disclaimer & Terms of Use
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