PRESIDENT & MANAGING BROKER
Jamie Squires - Fifth Avenue Real Marketing Ltd.
REAL MARKETESTATESNAPSHOT THE FRASER VALLEY AUGUST 2022
Estate
FRASER VALLEY REAL ESTATE BOARD AUGUST 2022
INTRODUCTION
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TOWNHOME
SINGLE FAMILY
TABLE OF CONTENTS
CONDOMINIUM
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Fifth Avenue Table of Contents 2
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SINGLE FVREB Single Family Sales Single Family Inventory
2022 2017 2018 2019 2020 2021 0 500 1000 1500 2000 2500 3000 3500 January February March April May June July August September October November December INVENTORY Chart 2: FVREB
FAMILY 0 200 400 600 800 1000 1200 1400 1600 January February March April May June July August September October November December SALES Chart 1:
CURRENTLY IN THE FRASER VALLEY REAL ESTATE BOARD IT IS A BALANCED MARKET FOR SINGLE FAMILY STYLE HOMES.
315 Single Family style homes sold in the Fraser Valley Real Estate Board in August 2022. This represents an increase of 18 unit sales, or 6% when compared to the 297 sales observed last month. When comparing the current month's sales (315 sales) to the 778 sales observed in August of 2021, sales have decreased by 463 units, or -60%.
2231 Single Family style homes were available for purchase in the Fraser Valley Real Estate Board in August 2022; this represents a decrease of 244 units, or -10% when compared to the 2475 units observed in inventory last month. When comparing this months inventory (2231 units) to the 1410 units of available inventory observed in August of 2021, inventory has increased by 821 units, or 58%.
2022 2017 2018 2019 2020 2021 Fifth Avenue Single Family 3 Source: Fraser Valley Real Estate Board REALTORS ® Source: Fraser Valley Real Estate Board REALTORS ®
$1,458,424$2,000,000$1,800,000$1,600,000$1,400,000$1,200,000$1,000,000$800,000$600,000$400,000 Qtr 1 Qtr 2 Qtr 3 Qtr 4 Qtr 1 Qtr 2 Qtr 3 Qtr 4 Qtr 1 Qtr 2 Qtr 3 Qtr 4 Qtr 1 Qtr 2 Qtr 3 Qtr 4 Qtr 1 Qtr 2 Qtr 3 Qtr 4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 2016 2017 2018 2019 2020 2021 2022 PRICEAVERAGE Chart 3: Historical Single Family Average Sales Price FRASER VALLEY REAL ESTATE BOARD SINGLE FAMILY AVERAGE PRICE AUGUST 2022 Fifth Avenue Single Family 4Source: Fraser Valley Real Estate Board REALTORS ®
When1%.
looking at August YTD Single Family sales for each respective year since 2015, 2022 sales currently rank 6th.
$1,458,424 is the average price for a Single Family style home sold in August 2022. This represents a decrease of $36,752 in the average sales price, or -2.5% when compared to the average price of sales observed last month ($1,495,176). When comparing the current months average sale price ($1,458,424) to the average sale price $1,465,764 observed in August of 2021, the sale price has decreased by $1,465,764, or -
100009000800070006000500040003000200010000 August 2016 YTDAugust 2017 YTDAugust 2018 YTD August 2019 YTDAugust 2020 YTDAugust 2021 YTD August 2022 YTD (YTD)SALES Chart 4: Single Family Sales YTD Comparison SALES Fifth Avenue Single Family 5 Source: Fraser Valley Real Estate Board REALTORS ®
282 Townhome style homes sold in the Fraser Valley Real Estate Board in August 2022. This represents an increase of 48 unit sales, or 21% when compared to the 234 sales observed last month. When comparing the current months sales (282 sales) to the 510 sales observed in August of 2021, sales have decreased by 228 units, or -45%.
TOWNHOME 0 100 200 300 400 500 600 700 800 900 January February March April May June July August September October November December SALES Chart 5: FVREB Townhome Sales 2022 2017 2018 2019 2020 2021 0 200 400 600 800 1000 1200 1400 1600 January February March April May June July August September October November December INVENTORY Chart 6: FVREB Townhome Inventory 2022 2017 2018 2019 2020 2021 Fifth Avenue Townhome 6 Source: Fraser Valley Real Estate Board REALTORS ®
Fraser Valley Real Estate Board REALTORS ®
Source:
CURRENTLY IN THE FRASER VALLEY REAL ESTATE BOARD IT IS A SELLERS MARKET FOR TOWNHOME STYLE HOMES.
1092 Townhome style homes were available for purchase in the Fraser Valley Real Estate Board in August 2022; this represents a decrease of 189 units, or -15% when compared to the 1281 units observed in inventory last month. When comparing this months inventory (1092 units) to the 544 units of available inventory observed in August of 2021, inventory has increased by 548 units, or 101%.
$810,038 $500,000$400,000$300,000 $600,000 $1,100,000$1,000,000$900,000$800,000$700,000 Qtr 1 Qtr 2 Qtr 3 Qtr 4 Qtr 1 Qtr 2 Qtr 3 Qtr 4 Qtr 1 Qtr 2 Qtr 3 Qtr 4 Qtr 1 Qtr 2 Qtr 3 Qtr 4 Qtr 1 Qtr 2 Qtr 3 Qtr 4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 2016 2017 2018 2019 2020 2021 2022 PRICEAVERAGE Chart 7: Historical Townhome Average Sales Price FRASER VALLEY REAL ESTATE BOARD TOWNHOME AVERAGE PRICE AUGUST 2022 Fifth Avenue Townhome 7Source: Fraser Valley Real Estate Board REALTORS ®
6000500040003000200010000 August 2016 YTD August 2017 YTD August 2018 YTD August 2019 YTD August 2020 YTD August 2021 YTD August 2022 YTD (YTD)SALES Chart 8: FVREB Townhome Sales YTD Comparison SALES Fifth Avenue Townhome 8 Source Fraser Valley Real Estate Board REALTORS ®
$810,038 is the average price for a Townhome style home sold in August 2022; this represents a decrease of $36,721 in the average sales price, or -4.3% when compared to the average price of sales observed last month ($846,759). When comparing the current months average sale price ($810,038) to the average sale price $737,934 observed in August of 2021, the sale price has increased by $72,104, or 10%.
When looking at August YTD Townhome sales for each respective year since 2015, 2022 sales currently rank 4th.
Source:
CURRENTLY IN THE FRASER VALLEY REAL ESTATE BOARD IT IS A BALANCED MARKET FOR CONDOMINIUM STYLE HOMES.
0 100 200 300 400 500 600 700 800 900 January February March April May June July August September October November December SALES Chart
Fifth Avenue Condominium 9
305 Condominium style homes sold in the Fraser Valley Real Estate Board in August 2022. This represents a decrease of 51 unit sales, or -14% when compared to the 356 sales observed last month. When comparing the current months sales (305 sales) to the 600 sales observed in August of 2021, sales have decreased by 295 units, or -49%.
CONDOMINIUM
1208 Condominium style homes were available for purchase in the Fraser Valley Real Estate Board in August 2022; this represents a decrease of 70 units, or -5%, when compared to the 1278 units observed in inventory last month. When comparing this months inventory (1208 units) to the 912 units of available inventory observed in August of 2021, inventory has increased by 296 units, or 32%. 9: FVREB Condominium Sales 10: FVREB Condominium Inventory
Fraser Valley Real Estate Board REALTORS ® Source: Fraser Valley Real Estate Board REALTORS ®
2022 2017 2018 2019 2020 2021 0 200 400 600 800 1000 1200 1400 1600 1800 2000 January February March April May June July August September October November December INVENTORY Chart
2022 2017 2018 2019 2020 2021
$539,217 $300,000$250,000$200,000$150,000 $350,000 $650,000$600,000$550,000$500,000$450,000$400,000 Qtr 1 Qtr 2 Qtr 3 Qtr 4 Qtr 1 Qtr 2 Qtr 3 Qtr 4 Qtr 1 Qtr 2 Qtr 3 Qtr 4 Qtr 1 Qtr 2 Qtr 3 Qtr 4 Qtr 1 Qtr 2 Qtr 3 Qtr 4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 2016 2017 2018 2019 2020 2021 2022 PRICEAVERAGE Chart 11: Historical Condominium Average Sales Price FRASER VALLEY REAL ESTATE BOARD CONDOMINIUM AVERAGE PRICE AUGUST 2022 Fifth Avenue Condominium 10Source: Fraser Valley Real Estate Board REALTORS ®
$539,217 is the average price for a Condominium style home sold in August 2022; this represents a decrease of $16,786 in the average sales price, or -3% when compared to the average price of sales observed last month ($556,003). When comparing the current months average sale price ($539,217) to the average sale price $489,738 observed in August of 2021, the sale price has increased by $49,479, or 10%.
6000500040003000200010000 August 2016 YTDAugust 2017 YTDAugust 2018 YTDAugust 2019 YTDAugust 2020 YTDAugust 2021 YTDAugust 2022 YTD (YTD)SALES Chart 12: FVREB Condominium Sales YTD Comparison SALES Fifth Avenue Condominium 11 Source: Fraser Valley Real Estate Board REALTORS ®
When looking at August YTD Condominium sales for each respective year since 2015, 2022 sales currently rank 3rd.
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