FRASER VALLEY REAL ESTATE BOARD NOVEMBER 2023
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.
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DISCLAIMER & TERMS OF USE This report, and all goods, services, content, data and information subsequently provided are subject to our terms of use, available online at: https://knewresearch.com/terms-andconditions/ 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
2019
2020
2021
2022
1200
1000
282 Single Family style homes sold in the Fraser Valley Real Estate Board in November 2023. This represents a decrease of 36 unit sales, or -11% when compared to the 318 sales observed last month. When comparing the current month's sales (282 sales) to the 269 sales observed in November of 2022, sales have increased by 13 units, or 5%.
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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 ®
2023
2018
2019
2020
2021
2022
3500
3000
2500
2000
INVENTORY
2339 Single Family style homes were available for purchase in the Fraser Valley Real Estate Board in November 2023; this represents a decrease of 221 units, or -9% when compared to the 2560 units observed in inventory last month. When comparing this months inventory (2339 units) to the 1840 units of available inventory observed in November of 2022, inventory has increased by 499 units, or 27%.
2018
1400
SALES
CURRENTLY IN THE FRASER VALLEY REAL ESTATE BOARD IT IS A BALANCED MARKET FOR SINGLE FAMILY STYLE HOMES.
2023 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
NOVEMBER 2023
$2,000,000
$1,800,000
AVERAGE PRICE
$1,600,000
$1,460,071
$1,400,000
$1,200,000
$1,000,000
$800,000
$600,000
$400,000 Q1
Q2
Q3 2017
Q4
Q1
Q2
Q3
Q4
Q1
Q2
2018
Chart 3: Historical Single Family Average Sales Price Source: Fraser Valley Real Estate Board - REALTORS ®
Q3 2019
Q4
Q1
Q2
Q3 2020
Q4
Q1
Q2
Q3 2021
Q4
Q1
Q2
Q3 2022
Q4
Q1
Q2
Q3
Q4
2023
Fifth Avenue – Single Family
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$1,460,071 is the average price for a Single Family style home sold in November 2023. This represents a decrease of $73,677 in the average sales price, or -4.8% when compared to the average price of sales observed last month ($1,533,748). When comparing the current months average sale price ($1,460,071) to the average sale price $1,314,092 observed in November of 2022, the sale price has increased by $145,979, or 11%. When looking at November YTD Single Family sales for each respective year since 2015, 2023 sales currently rank 7th. SALES 12000
10000
SALES (YTD)
8000
6000
4000
2000
0 November 2017 November 2018 November 2019 November 2020 November 2021 November 2022 November 2023 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
2018
2019
2020
2021
2022
800
700
600
SALES
CURRENTLY IN THE FRASER VALLEY REAL ESTATE BOARD IT IS A BALANCED MARKET FOR TOWNHOME STYLE HOMES.
2023 900
211 Townhome style homes sold in the Fraser Valley Real Estate Board in November 2023. This represents a decrease of 7 unit sales, or 3% when compared to the 218 sales observed last month. When comparing the current months sales (211 sales) to the 189 sales observed in November of 2022, sales have increased by 22 units, or 12%.
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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 ®
2023
2018
2019
2020
2021
2022
1600
1400
1200
1000
INVENTORY
850 Townhome style homes were available for purchase in the Fraser Valley Real Estate Board in November 2023; this represents a decrease of 47 units, or -5% when compared to the 897 units observed in inventory last month. When comparing this months inventory (850 units) to the 909 units of available inventory observed in November of 2022, inventory has decreased by 59 units, or 6%.
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0 January
February
March
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July
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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
NOVEMBER 2023
$1,100,000
$1,000,000
AVERAGE PRICE
$900,000
$822,913
$800,000
$700,000
$600,000
$500,000
$400,000
$300,000
Q1
Q2
Q3 2017
Q4
Q1
Q2
Q3
Q4
Q1
Q2
2018
Chart 7: Historical Townhome Average Sales Price Source: Fraser Valley Real Estate Board - REALTORS ®
Q3 2019
Q4
Q1
Q2
Q3 2020
Q4
Q1
Q2
Q3 2021
Q4
Q1
Q2
Q3 2022
Q4
Q1
Q2
Q3
Q4
2023
Fifth Avenue - Townhome
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$822,913 is the average price for a Townhome style home sold in November 2023; this represents a decrease of $8,742 in the average sales price, or -1.1% when compared to the average price of sales observed last month ($831,655). When comparing the current months average sale price ($822,913) to the average sale price $809,737 observed in November of 2022, the sale price has increased by $13,176, or 2%. When looking at November YTD Townhome sales for each respective year since 2015, 2023 sales currently rank 7th. SALES 7000
6000
SALES (YTD)
5000
4000
3000
2000
1000
0 November 2017 November 2018 November 2019 November 2020 November 2021 November 2022 November 2023 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
2018
2019
2020
2021
2022
800
700
600
SALES
CURRENTLY IN THE FRASER VALLEY REAL ESTATE BOARD IT IS A BALANCED MARKET FOR CONDOMINIUM STYLE HOMES.
2023 900
288 Condominium style homes sold in the Fraser Valley Real Estate Board in November 2023. This represents a decrease of 31 unit sales, or -10% when compared to the 319 sales observed last month. When comparing the current months sales (288 sales) to the 273 sales observed in November of 2022, sales have increased by 15 units, or 5%.
500
400
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0 January
February
March
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November
December
Chart 9: FVREB Condominium Sales Source: Fraser Valley Real Estate Board - REALTORS ®
2023
2018
2019
2020
2021
2022
2000
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1600
1400
1200
INVENTORY
1405 Condominium style homes were available for purchase in the Fraser Valley Real Estate Board in November 2023; this represents a decrease of 22 units, or -2%, when compared to the 1427 units observed in inventory last month. When comparing this months inventory (1405 units) to the 1202 units of available inventory observed in November of 2022, inventory has increased by 203 units, or 17%.
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0 January
February
March
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October
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 2023
$650,000 $600,000
$560,992
$550,000
AVERAGE PRICE
$500,000 $450,000 $400,000
$350,000 $300,000 $250,000 $200,000 $150,000 Q1
Q2
Q3 2017
Q4
Q1
Q2
Q3 2018
Q4
Q1
Q2
Q3 2019
Chart 11: Historical Condominium Average Sales Price Source: Fraser Valley Real Estate Board - REALTORS ®
Q4
Q1
Q2
Q3 2020
Q4
Q1
Q2
Q3 2021
Q4
Q1
Q2
Q3 2022
Q4
Q1
Q2
Q3
Q4
2023
Fifth Avenue - Condominium
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$560,992 is the average price for a Condominium style home sold in November 2023; this represents an increase of $18,542 in the average sales price, or 3.4% when compared to the average price of sales observed last month ($542,450). When comparing the current months average sale price ($560,992) to the average sale price $511,513 observed in November of 2022, the sale price has increased by $49,479, or 10%. When looking at November YTD Condominium sales for each respective year since 2015, 2023 sales currently rank 4th. SALES 8000
7000
6000
SALES (YTD)
5000
4000
3000
2000
1000
0 November 2017 November 2018 November 2019 November 2020 November 2021 November 2022 November 2023 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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