January 2022 - 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 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.

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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

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%.

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

2022

2017

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2019

2020

2021

3500

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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

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0 January

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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

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

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2017

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Qtr 3 2018

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Qtr 3 2019

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2022

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

Fifth Avenue – Single Family

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$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

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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%.

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

2022

2017

2018

2019

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2021

1600

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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%.

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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

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

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2017

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Q4

2022

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

Fifth Avenue - Townhome

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$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

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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%.

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

2022

2017

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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%.

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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

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

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Qtr 3 2016

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2017

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2022

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

Fifth Avenue - Condominium

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$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

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Fifth Avenue – Disclaimer & Terms of Use

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