REAL ESTATE MARKET SNAPSHOT
THE FRASER VALLEY
June 2024
PRESIDENT & MANAGING BROKER
Jamie Squires -Fifth Avenue Real Estate Marketing Ltd.
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
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/
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.
SINGLE FAMILY
CURRENTLY IN THE FRASER VALLEY
REAL ESTATE BOARD IT IS A BUYERS MARKET FOR SINGLE FAMILY STYLE HOMES.
452 Single Family style homes sold in the Fraser Valley Real Estate Board in June 2024. This represents a decrease of 79 unit sales, or15% when compared to the 531 sales observed last month. When comparing the current month's sales (452 sales) to the 680 sales observed in June of 2023, sales have decreased by 228 units, or -34%.
3076 Single Family style homes were available for purchase in the Fraser Valley Real Estate Board in June 2024; this represents an increase of 203 units, or 7%, when compared to the 2873 units observed in inventory last month. When comparing this months inventory (3076 units) to the 2297 units of available inventory observed in June of 2023, inventory has increased by 779 units, or 34%.
$2,000,000
$1,800,000
$1,600,000
$1,400,000
$1,200,000
$1,000,000
$800,000
$600,000
$400,000
$1,515,526
FRASER VALLEY REAL ESTATE BOARD SINGLE FAMILY AVERAGE PRICE
$1,515,526 is the average price for a Single Family style home sold in June 2024. This represents a decrease of $49,600 in the average sales price, or -3.2% when compared to the average price of sales observed last month ($1,565,126). When comparing the current months average sale price ($1,515,526) to the average sale price $1,609,796 observed in June of 2023, the sale price has decreased by $94,270, or -6%.
When looking at June YTD Single Family sales for each respective year since 2015, 2024 sales currently rank 7th.
TOWNHOME
CURRENTLY IN THE FRASER VALLEY
REAL ESTATE BOARD IT IS A BALANCED MARKET FOR TOWNHOME STYLE HOMES.
340 Townhome style homes sold in the Fraser Valley Real Estate Board in June 2024. This represents a decrease of 27 unit sales, or -7% when compared to the 367 sales observed last month. When comparing the current months sales (340 sales) to the 474 sales observed in June of 2023, sales have decreased by 134 units, or -28%.
1299 Townhome style homes were available for purchase in the Fraser Valley Real Estate Board in June 2024; this represents an increase of 81 units, or 7%, when compared to the 1218 units observed in inventory last month. When comparing this months inventory (1299 units) to the 801 units of available inventory observed in June of 2023, inventory has increased by 498 units, or 62%.
6: FVREB Townhome Inventory
$1,100,000
$1,000,000
$900,000
$800,000
$700,000
$600,000
$400,000 $500,000
$300,000
$844,022 is the average price for a Townhome style home sold in June 2024; this represents a decrease of $20,262 in the average sales price, or -2.3% when compared to the average price of sales observed last month ($864,284).
When comparing the current months average sale price ($844,022) to the average sale price $859,589 observed in June of 2023, the sale price has decreased by $15,567, or -2%.
When looking at June YTD Townhome sales for each respective year since 2015, 2024 sales currently rank 5th.
Chart 8: FVREB Townhome Sales YTD Comparison
CONDOMINIUM
CURRENTLY IN THE FRASER VALLEY REAL ESTATE BOARD IT IS A BALANCED MARKET FOR CONDOMINIUM STYLE HOMES.
396 Condominium style homes sold in the Fraser Valley Real Estate Board in June 2024. This represents a decrease of 51 unit sales, or11% when compared to the 447 sales observed last month. When comparing the current months sales (396 sales) to the 571 sales observed in June of 2023, sales have decreased by 175 units, or -31%.
1926 Condominium style homes were available for purchase in the Fraser Valley Real Estate Board in June 2024; this represents an increase of 75 units, or 4%, when compared to the 1851 units observed in inventory last month. When comparing this months inventory (1926 units) to the 1240 units of available inventory observed in June of 2023, inventory has increased by 686 units, or 55%.
Chart 9: FVREB Condominium Sales
Chart 10: FVREB Condominium Inventory
$650,000
$600,000
$550,000
$500,000
$450,000
$400,000
$580,141 is the average price for a Condominium style home sold in June 2024; this represents an increase of $18,831 in the average sales price, or 3.4% when compared to the average price of sales observed last month ($561,310). When comparing the current months average sale price ($580,141) to the average sale price $551,674 observed in June of 2023, the sale price has increased by $28,467, or 5%.
When looking at June YTD Condominium sales for each respective year since 2015, 2024 sales currently rank 5th.
Chart 12: FVREB Condominium Sales YTD Comparison
