NOVEMBER - FRASER VALLEY REAL ESTATE MARKET SNAPSHOT

R E A L E STAT E M A R K E T S N A P S H OT THE FRASER VALLEY N ove m b e r 2 0 2 1 SR. VICE PRESIDENT & MANAGING BROKER Fifth Aven ue Real Estate Mar ketin g Ltd.

FRASER VALLEY REAL ESTATE BOARD NOVEMBER 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.

By utilizing our maps and intuitive charting techniques, you will be able to quickly and easily understand your market.

We hope you enjoy our creative approach to monitoring activity in your region.

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Let us do the data collection and analysis for you

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

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713 Single Family style homes sold in the Fraser Valley Real Estate Board in November 2021. This represents an increase of 14 unit sales, or 2% when compared to the 699 sales observed last month. When comparing the current month's sales (713 sales) to the 978 sales observed in November of 2020, sales have decreased by 265 units, or -27%.

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Chart 1: FVREB Single Family Sales Source: Fraser Valley Real Estate Board - REALTORS ®

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INVENTORY

989 Single Family style homes were available for purchase in the Fraser Valley Real Estate Board in November 2021; this represents a decrease of 159 units, or -14% when compared to the 1148 units observed in inventory last month. When comparing this months inventory (989 units) to the 1806 units of available inventory observed in November of 2020, inventory has decreased by 817 units, or -45%.

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SALES

CURRENTLY IN THE FRASER VALLEY REAL ESTATE BOARD IT IS A SELLERS MARKET FOR SINGLE FAMILY STYLE HOMES.

2021 1800

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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

NOVEMBER 2021

$1,800,000

$1,633,917 $1,600,000

AVERAGE PRICE

$1,400,000

$1,200,000

$1,000,000

$800,000

$600,000

$400,000 Qtr 1

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Qtr 3 2015

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Chart 3: Historical Single Family Average Sales Price Source: Fraser Valley Real Estate Board - REALTORS ®

Fifth Avenue – Single Family

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$1,633,917 is the average price for a Single Family style home sold in November 2021.

This represents an increase of $88,205 in the average sales price, or 5.7% when compared to the average price of sales observed last month ($1,545,712). When comparing the current months average sale price ($1,633,917) to the average sale price $1,182,253 observed in November of 2020, the sale price has increased by $451,664, or 38%.

When looking at November YTD Single Family sales for each respective year since 2015, 2021 sales currently rank 3rd.

SALES 12000

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SALES (YTD)

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0 November 2015 November 2016 November 2017 November 2018 November 2019 November 2020 November 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

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SALES

CURRENTLY IN THE FRASER VALLEY REAL ESTATE BOARD IT IS A SELLERS MARKET FOR TOWNHOME STYLE HOMES.

2021 900

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436 Townhome style homes sold in the Fraser Valley Real Estate Board in November 2021.

This represents a decrease of 69 unit sales, or 14% when compared to the 505 sales observed last month. When comparing the current months sales (436 sales) to the 532 sales observed in November of 2020, sales have decreased by 96 units, or -18%.

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Chart 5: FVREB Townhome Sales Source: Fraser Valley Real Estate Board - REALTORS ®

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370 Townhome style homes were available for purchase in the Fraser Valley Real Estate Board in November 2021; this represents a decrease of 35 units, or -9% when compared to the 405 units observed in inventory last month. When comparing this months inventory (370 units) to the 987 units of available inventory observed in November of 2020, inventory has decreased by 617 units, or -63%.

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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

NOVEMBER 2021

$900,000

$822,119 $800,000

AVERAGE PRICE

$700,000

$600,000

$500,000

$400,000

$300,000

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Qtr 3 2015

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Chart 7: Historical Townhome Average Sales Price Source: Fraser Valley Real Estate Board - REALTORS ®

Fifth Avenue - Townhome

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$822,119 is the average price for a Townhome style home sold in November 2021; this represents an increase of $30,371 in the average sales price, or 3.8% when compared to the average price of sales observed last month ($791,748). When comparing the current months average sale price ($822,119) to the average sale price $621,750 observed in November of 2020, the sale price has increased by $200,369, or 32%.

When looking at November YTD Townhome sales for each respective year since 2015, 2021 sales currently rank 1st.

SALES 7000

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0 November 2015 November 2016 November 2017 November 2018 November 2019 November 2020 November 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

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SALES

CURRENTLY IN THE FRASER VALLEY REAL ESTATE BOARD IT IS A SELLERS MARKET FOR CONDOMINIUM STYLE HOMES.

2021 900

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614 Condominium style homes sold in the Fraser Valley Real Estate Board in November 2021. This represents an increase of 58 unit sales, or 10% when compared to the 556 sales observed last month. When comparing the current months sales (614 sales) to the 430 sales observed in November of 2020, sales have increased by 184 units, or 43%.

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Chart 9: FVREB Condominium Sales Source: Fraser Valley Real Estate Board - REALTORS ®

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643 Condominium style homes were available for purchase in the Fraser Valley Real Estate Board in November 2021; this represents a decrease of 128 units, or -17%, when compared to the 771 units observed in inventory last month. When comparing this months inventory (643 units) to the 1549 units of available inventory observed in November of 2020, inventory has decreased by 906 units, or -58%.

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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

NOVEMBER 2021

$528,696

$550,000

$500,000

AVERAGE PRICE

$450,000

$400,000

$350,000

$300,000

$250,000

$200,000

$150,000 Qtr 1

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Chart 11: Historical Condominium Average Sales Price Source: Fraser Valley Real Estate Board - REALTORS ®

Fifth Avenue - Condominium

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$528,696 is the average price for a Condominium style home sold in November 2021; this represents an increase of $28,511 in the average sales price, or 5.7% when compared to the average price of sales observed last month ($500,185). When comparing the current months average sale price ($528,696) to the average sale price $414,609 observed in November of 2020, the sale price has increased by $114,087, or 28%.

When looking at November YTD Condominium sales for each respective year since 2015, 2021 sales currently rank 1st.

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0 November 2015 November 2016 November 2017 November 2018 November 2019 November 2020 November 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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