R E A L E STAT E M A R K E T S N A P S H OT THE FRASER VALLEY January 2022 SR. VICE PRESIDENT & MANAGING BROKER
JA MI E SQ UI RES - Fifth Aven ue Real Estate Mar ketin g Ltd.
FRASER VALLEY REAL ESTATE BOARD JANUARY 2022
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.
“
Let us do the data collection and analysis for you
Fifth Avenue - Introduction
1
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
2
SINGLE FAMILY
2018
2019
2020
2021
1200
1000
469 Single Family style homes sold in the Fraser Valley Real Estate Board in January 2022. This represents a decrease of 166 unit sales, or -26% when compared to the 635 sales observed last month. When comparing the current month's sales (469 sales) to the 678 sales observed in January of 2021, sales have decreased by 209 units, or -31%.
800
600
400
200
0 January
February
March
April
May
June
July
August
September
October
November
December
November
December
Chart 1: FVREB Single Family Sales Source: Fraser Valley Real Estate Board - REALTORS ®
2022
2017
2018
2019
2020
2021
3500
3000
2500
2000 INVENTORY
801 Single Family style homes were available for purchase in the Fraser Valley Real Estate Board in January 2022; this represents an increase of 191 units, or 31%, when compared to the 610 units observed in inventory last month. When comparing this months inventory (801 units) to the 1207 units of available inventory observed in January of 2021, inventory has decreased by 406 units, or -34%.
2017
1400
SALES
CURRENTLY IN THE FRASER VALLEY REAL ESTATE BOARD IT IS A BALANCED MARKET FOR SINGLE FAMILY STYLE HOMES.
2022 1600
1500
1000
500
0 January
February
March
April
May
June
July
August
September
October
Chart 2: FVREB Single Family Inventory Source: Fraser Valley Real Estate Board - REALTORS ®
Fifth Avenue – Single Family
3
FRASER VALLEY REAL ESTATE BOARD SINGLE FAMILY AVERAGE PRICE
JANUARY 2022
$2,000,000
$1,819,027 $1,800,000
AVERAGE PRICE
$1,600,000
$1,400,000
$1,200,000
$1,000,000
$800,000
$600,000
$400,000 Qtr 1
Qtr 2
Qtr 3 2016
Qtr 4
Qtr 1
Qtr 2
Qtr 3
Qtr 4
2017
Qtr 1
Qtr 2
Qtr 3 2018
Qtr 4
Qtr 1
Qtr 2
Qtr 3 2019
Qtr 4
Qtr 1
Qtr 2
Qtr 3 2020
Qtr 4
Q1
Q2
Q3 2021
Q4
Q1
Q2
Q3
Q4
2022
Chart 3: Historical Single Family Average Sales Price Source: Fraser Valley Real Estate Board - REALTORS ®
Fifth Avenue – Single Family
4
$1,819,027 is the average price for a Single Family style home sold in January 2022. This represents an increase of $144,772 in the average sales price, or 8.6% when compared to the average price of sales observed last month ($1,674,255). When comparing the current months average sale price ($1,819,027) to the average sale price $1,280,065 observed in January of 2021, the sale price has increased by $538,962, or 42%. When looking at January YTD Single Family sales for each respective year since 2015, 2022 sales currently rank 3rd.
SALES 800
700
600
SALES (YTD)
500
400
300
200
100
0 January 2016 YTD
January 2017 YTD
January 2018 YTD
January 2019 YTD
January 2020 YTD
January 2021 YTD
January 2022 YTD
Chart 4: Single Family Sales YTD Comparison Source: Fraser Valley Real Estate Board - REALTORS ®
Fifth Avenue – Single Family
5
TOWNHOME
2017
2018
2019
2020
2021
800
700
600
SALES
CURRENTLY IN THE FRASER VALLEY REAL ESTATE BOARD IT IS A SELLERS MARKET FOR TOWNHOME STYLE HOMES.
2022 900
289 Townhome style homes sold in the Fraser Valley Real Estate Board in January 2022. This represents a decrease of 125 unit sales, or 30% when compared to the 414 sales observed last month. When comparing the current months sales (289 sales) to the 461 sales observed in January of 2021, sales have decreased by 172 units, or -37%.
500
400
300
200
100
0 January
February
March
April
May
June
July
August
September
October
November
December
November
December
Chart 5: FVREB Townhome Sales Source: Fraser Valley Real Estate Board - REALTORS ®
2022
2017
2018
2019
2020
2021
1600
1400
1200
1000
INVENTORY
326 Townhome style homes were available for purchase in the Fraser Valley Real Estate Board in January 2022; this represents an increase of 134 units, or 70%, when compared to the 192 units observed in inventory last month. When comparing this months inventory (326 units) to the 683 units of available inventory observed in January of 2021, inventory has decreased by 357 units, or -52%.
800
600
400
200
0 January
February
March
April
May
June
July
August
September
October
Chart 6: FVREB Townhome Inventory Source: Fraser Valley Real Estate Board - REALTORS ®
Fifth Avenue - Townhome
6
FRASER VALLEY REAL ESTATE BOARD TOWNHOME AVERAGE PRICE
JANUARY 2022
$1,000,000
$929,872
$900,000
AVERAGE PRICE
$800,000
$700,000
$600,000
$500,000
$400,000
$300,000
Qtr 1
Qtr 2
Qtr 3 2016
Qtr 4
Qtr 1
Qtr 2
Qtr 3
Qtr 4
2017
Qtr 1
Qtr 2
Qtr 3 2018
Qtr 4
Qtr 1
Qtr 2
Qtr 3 2019
Qtr 4
Qtr 1
Qtr 2
Qtr 3 2020
Qtr 4
Q1
Q2
Q3 2021
Q4
Q1
Q2
Q3
Q4
2022
Chart 7: Historical Townhome Average Sales Price Source: Fraser Valley Real Estate Board - REALTORS ®
Fifth Avenue - Townhome
7
$929,872 is the average price for a Townhome style home sold in January 2022; this represents an increase of $66,485 in the average sales price, or 7.7% when compared to the average price of sales observed last month ($863,387). When comparing the current months average sale price ($929,872) to the average sale price $650,722 observed in January of 2021, the sale price has increased by $279,150, or 43%. When looking at January YTD Townhome sales for each respective year since 2015, 2022 sales currently rank 2nd. SALES 500 450 400
SALES (YTD)
350 300 250 200 150 100 50 0 January 2016 YTD
January 2017 YTD
January 2018 YTD
January 2019 YTD
January 2020 YTD
January 2021 YTD
January 2022 YTD
Chart 8: FVREB Townhome Sales YTD Comparison Source: Fraser Valley Real Estate Board - REALTORS ®
Fifth Avenue - Townhome
8
CONDOMINIUM
2017
2018
2019
2020
2021
800
700
600
SALES
CURRENTLY IN THE FRASER VALLEY REAL ESTATE BOARD IT IS A SELLERS MARKET FOR CONDOMINIUM STYLE HOMES.
2022 900
418 Condominium style homes sold in the Fraser Valley Real Estate Board in January 2022. This represents a decrease of 126 unit sales, or -23% when compared to the 544 sales observed last month. When comparing the current months sales (418 sales) to the 372 sales observed in January of 2021, sales have increased by 46 units, or 12%.
500
400
300
200
100
0 January
February
March
April
May
June
July
August
September
October
November
December
Chart 9: FVREB Condominium Sales Source: Fraser Valley Real Estate Board - REALTORS ®
2022
2017
2018
2019
2020
2021
1600
1400
1200
1000
INVENTORY
422 Condominium style homes were available for purchase in the Fraser Valley Real Estate Board in January 2022; this represents an increase of 77 units, or 22%, when compared to the 345 units observed in inventory last month. When comparing this months inventory (422 units) to the 1283 units of available inventory observed in January of 2021, inventory has decreased by 861 units, or -67%.
800
600
400
200
0 January
February
March
April
May
June
July
August
September
October
November
December
Chart 10: FVREB Condominium Inventory Source: Fraser Valley Real Estate Board - REALTORS ®
Fifth Avenue - Condominium
9
FRASER VALLEY REAL ESTATE BOARD CONDOMINIUM AVERAGE PRICE
JANUARY 2022
$575,324
$600,000
$550,000
$500,000
AVERAGE PRICE
$450,000
$400,000
$350,000
$300,000
$250,000
$200,000
$150,000 Qtr 1
Qtr 2
Qtr 3 2016
Qtr 4
Qtr 1
Qtr 2
Qtr 3
Qtr 4
Qtr 1
2017
Qtr 2
Qtr 3 2018
Qtr 4
Qtr 1
Qtr 2
Qtr 3 2019
Qtr 4
Qtr 1
Qtr 2
Qtr 3 2020
Qtr 4
Q1
Q2
Q3 2021
Q4
Q1
Q2
Q3
Q4
2022
Chart 11: Historical Condominium Average Sales Price Source: Fraser Valley Real Estate Board - REALTORS ®
Fifth Avenue - Condominium
10
$575,324 is the average price for a Condominium style home sold in January 2022; this represents an increase of $25,503 in the average sales price, or 4.6% when compared to the average price of sales observed last month ($549,821). When comparing the current months average sale price ($575,324) to the average sale price $429,863 observed in January of 2021, the sale price has increased by $145,461, or 34%. When looking at January YTD Condominium sales for each respective year since 2015, 2022 sales currently rank 1st. SALES 450 400 350
SALES (YTD)
300 250 200 150 100 50 0 January 2016 YTD
January 2017 YTD
January 2018 YTD
January 2019 YTD
January 2020 YTD
January 2021 YTD
January 2022 YTD
Chart 12: FVREB Condominium Sales YTD Comparison Source: Fraser Valley Real Estate Board - REALTORS ®
Fifth Avenue - Condominium
11
DISCLAIMER & TERMS OF USE The content on this report, quotes, data and other information, is provided by Knew Realty Research and its third-party content providers for your personal information only, and is not intended for investing purposes. Content in this report is not appropriate for the purposes of making a decision to carry out a transaction or investment. Nor does it provide any form of advice (investment, tax, legal) amounting to financial advice, or make any recommendations regarding particular financial instruments, investments or products. This report does not provide investment advice nor recommendations to buy or sell any form of property or land. We do not request personal information in any unsolicited email correspondence with our customers. Any correspondence offering investment advice or unsolicited message asking for personal details should be treated as false and reported to Knew Realty Research. Neither Knew Realty Research nor its third-party content providers shall be liable for any errors, inaccuracies or delays in content, or for any actions taken in reliance thereon.
KNEW REALTY RESEARCH EXPRESSLY DISCLAIMS ALL WARRANTIES, EXPRESSED OR IMPLIED, AS TO THE ACCURACY OF ANY THE CONTENT PROVIDED, OR AS TO THE FITNESS OF THE INFORMATION FOR ANY PURPOSE. Although Knew Realty Research makes reasonable efforts to obtain reliable content from third parties, Knew Realty Research does not guarantee the accuracy of or endorse the views or opinions given by any third-party content provider. This report may point to other Internet reports that may be of interest to you, however Knew Realty Research does not endorse or take responsibility for the content on such other reports. Terms of Use 1. License. Customer and its End Users are granted a personal, non-exclusive, revocable, non-transferable, non sub-licensable, license to use the analysis within this report for its internal business purposes. "End User" means any individual recipient of this report who is from time to time authorized by Customer to access and use the Services.
2. Prohibited Uses. distributing, transferring, sub-licensing, renting, selling, repackaging, reverse engineering, assigning, leasing, reselling, publishing or making available all or any portion of the Services; 2.1. using the Services for any illegal purpose or contrary to the laws applicable in the jurisdictions where Customer or End Users operates or applicable to supply and use of the Services. 3. Intellectual Property. All copyright, database rights, trade marks, patents, rights of privacy or publicity and other proprietary or intellectual property rights (including all models, software, data and any materials) comprised in all or any of the Services, or their provision, and all enhancements, modifications or additional services thereto, are and will be the exclusive property of Knew Realty Research Inc. (KNEW). Customer will not use the same (including copying, reverse engineering or disclosing it to any person, for any purpose whatsoever) and will not remove or deface any trademarks associated with the Services; 4. Disclaimer. The Services distributed to Customer and End User shall be on "as is" basis. Neither Vendor, KNEW, its affiliates, sponsors, nor any third-party data provider makes any warranty, express or implied, as to the accuracy or completeness of the Services or as to the results to be attained by Customer and End User or others from the use of the Services. Customer and its End Users hereby acknowledge that there are no express or implied warranties of title, merchantability or fitness for a particular purpose or use, and that it has not relied upon any warranty, guaranty or representation made by KNEW, its affiliates or any Data Provider. The Customer and End User are bound to any legends, disclaimers, and notices appearing from time to time in the Services; 5. Liability. Neither Vendor, KNEW, its affiliates, sponsors, nor any Data Provider shall in any way be liable to Customer and End User or any client of Customer and End User for any inaccuracies, errors or omissions, regardless of cause, in the Services provided hereunder or for any damages (whether direct or indirect) resulting therefrom. Without limiting the foregoing, KNEW shall have no liability whatsoever to Customer and End User, whether in contract (including under an indemnity), in tort (including negligence), under a warranty, under statute or otherwise, in respect of any loss or damage suffered Customer and by End User as a result of or in connection with any opinions, recommendations, forecasts, judgments, or any other conclusions, or any course of action determined, by Customer and End User or any client of Customer and End User, whether or not based on the Services. 6. Indemnity. Customer will indemnify, defend and hold harmless KNEW and its affiliates, and sponsors against any and all losses, liabilities, damages, costs brought by any third party accessing of all or part of the Services through or by means of Subscriber.
Fifth Avenue – Disclaimer & Terms of Use
12
#8 - 15243 91 Ave Surrey, BC V3R 8P8 604-583-2212 | homes@fifthave.ca www.fifthave.ca © 2021 Fifth Avenue Real Estate Marketing Ltd. POWERED BY: