FRASER VALLEY REAL ESTATE BOARD APRIL 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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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
550 Single Family style homes sold in the Fraser Valley Real Estate Board in April 2022. This represents a decrease of 382 unit sales, or -41% when compared to the 932 sales observed last month. When comparing the current month's sales (550 sales) to the 1264 sales observed in April of 2021, sales have decreased by 714 units, or -56%.
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
2193 Single Family style homes were available for purchase in the Fraser Valley Real Estate Board in April 2022; this represents an increase of 303 units, or 16%, when compared to the 1890 units observed in inventory last month. When comparing this months inventory (2193 units) to the 2500 units of available inventory observed in April of 2021, inventory has decreased by 307 units, or 12%.
2017
1400
SALES
CURRENTLY IN THE FRASER VALLEY REAL ESTATE BOARD IT IS A BUYERS 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
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FRASER VALLEY REAL ESTATE BOARD SINGLE FAMILY AVERAGE PRICE
APRIL 2022
$2,000,000
$1,726,506
$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
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$1,726,506 is the average price for a Single Family style home sold in April 2022. This represents a decrease of $60,942 in the average sales price, or -3.4% when compared to the average price of sales observed last month ($1,787,448). When comparing the current months average sale price ($1,726,506) to the average sale price $1,411,522 observed in April of 2021, the sale price has increased by $314,984, or 22%. When looking at April YTD Single Family sales for each respective year since 2015, 2022 sales currently rank 4th.
SALES 6000
5000
SALES (YTD)
4000
3000
2000
1000
0 April 2016 YTD
April 2017 YTD
April 2018 YTD
April 2019 YTD
April 2020 YTD
April 2021 YTD
April 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 BALANCED MARKET FOR TOWNHOME STYLE HOMES.
2022 900
388 Townhome style homes sold in the Fraser Valley Real Estate Board in April 2022. This represents a decrease of 236 unit sales, or 38% when compared to the 624 sales observed last month. When comparing the current months sales (388 sales) to the 753 sales observed in April of 2021, sales have decreased by 365 units, or -48%.
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
1069 Townhome style homes were available for purchase in the Fraser Valley Real Estate Board in April 2022; this represents an increase of 156 units, or 17%, when compared to the 913 units observed in inventory last month. When comparing this months inventory (1069 units) to the 858 units of available inventory observed in April of 2021, inventory has increased by 211 units, or 25%.
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
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FRASER VALLEY REAL ESTATE BOARD TOWNHOME AVERAGE PRICE
APRIL 2022
$1,100,000
$1,000,000
$929,467
AVERAGE PRICE
$900,000
$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
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$929,467 is the average price for a Townhome style home sold in April 2022; this represents a decrease of $38,143 in the average sales price, or -3.9% when compared to the average price of sales observed last month ($967,610). When comparing the current months average sale price ($929,467) to the average sale price $735,359 observed in April of 2021, the sale price has increased by $194,108, or 26%. When looking at April YTD Townhome sales for each respective year since 2015, 2022 sales currently rank 3rd.
SALES 3000
2500
SALES (YTD)
2000
1500
1000
500
0 April 2016 YTD
April 2017 YTD
April 2018 YTD
April 2019 YTD
April 2020 YTD
April 2021 YTD
April 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
552 Condominium style homes sold in the Fraser Valley Real Estate Board in April 2022. This represents a decrease of 251 unit sales, or -31% when compared to the 803 sales observed last month. When comparing the current months sales (552 sales) to the 694 sales observed in April of 2021, sales have decreased by 142 units, or -20%.
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
2000
1800
1600
1400
1200
INVENTORY
995 Condominium style homes were available for purchase in the Fraser Valley Real Estate Board in April 2022; this represents an increase of 147 units, or 17%, when compared to the 848 units observed in inventory last month. When comparing this months inventory (995 units) to the 1326 units of available inventory observed in April of 2021, inventory has decreased by 331 units, or 25%.
1000
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
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FRASER VALLEY REAL ESTATE BOARD CONDOMINIUM AVERAGE PRICE
APRIL 2022
$650,000
$605,922
$600,000 $550,000
AVERAGE PRICE
$500,000 $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
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$605,922 is the average price for a Condominium style home sold in April 2022; this represents an increase of $6,322 in the average sales price, or 1.1% when compared to the average price of sales observed last month ($599,600). When comparing the current months average sale price ($605,922) to the average sale price $470,636 observed in April of 2021, the sale price has increased by $135,286, or 29%. When looking at April YTD Condominium sales for each respective year since 2015, 2022 sales currently rank 2nd. SALES 3000
2500
SALES (YTD)
2000
1500
1000
500
0 April 2016 YTD
April 2017 YTD
April 2018 YTD
April 2019 YTD
April 2020 YTD
April 2021 YTD
April 2022 YTD
Chart 12: FVREB Condominium Sales YTD Comparison Source: Fraser Valley Real Estate Board - REALTORS ®
Fifth Avenue - Condominium
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