REAL ESTATE MARKET SNAPSHOT THE
AUGUST 2023



AUGUST 2023
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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388 Single Family style homes sold in the Fraser Valley Real Estate Board in August 2023. This represents a decrease of 14 unit sales, or -3% when compared to the 402 sales observed last month. When comparing the current month's sales (388 sales) to the 315 sales observed in August of 2022, sales have increased by 73 units, or 23%.
2477 Single Family style homes were available for purchase in the Fraser Valley Real Estate Board in August 2023; this represents an increase of 51 units, or 2%, when compared to the 2426 units observed in inventory last month. When comparing this months inventory (2477 units) to the 2231 units of available inventory observed in August of 2022, inventory has increased by 246 units, or 11%.
FRASER VALLEY REAL ESTATE BOARD SINGLE FAMILY AVERAGE PRICE
$1,561,351 is the average price for a Single Family style home sold in August 2023. This represents an increase of $15,673 in the average sales price, or 1% when compared to the average price of sales observed last month ($1,545,678). When comparing the current months average sale price ($1,561,351) to the average sale price $1,458,424 observed in August of 2022, the sale price has increased by $102,927, or 7%.
When looking at August YTD Single Family sales for each respective year since 2015, 2023 sales currently rank 7th.
316 Townhome style homes sold in the Fraser Valley Real Estate Board in August 2023. This represents a decrease of 57 unit sales, or -15% when compared to the 373 sales observed last month. When comparing the current months sales (316 sales) to the 282 sales observed in August of 2022, sales have increased by 34 units, or 12%.
839 Townhome style homes were available for purchase in the Fraser Valley Real Estate Board in August 2023; this represents an increase of 7 units, or 1%, when compared to the 832 units observed in inventory last month. When comparing this months inventory (839 units) to the 1092 units of available inventory observed in August of 2022, inventory has decreased by 253 units, or -23%.
$834,696 is the average price for a Townhome style home sold in August 2023; this represents a decrease of $11,985 in the average sales price, or -1.4% when compared to the average price of sales observed last month ($846,681). When comparing the current months average sale price ($834,696) to the average sale price $810,038 observed in August of 2022, the sale price has increased by $24,658, or 3%.
When looking at August YTD Townhome sales for each respective year since 2015, 2023 sales currently rank 6th.
414 Condominium style homes sold in the Fraser Valley Real Estate Board in August 2023. This represents a decrease of 48 unit sales, or -10% when compared to the 462 sales observed last month. When comparing the current months sales (414 sales) to the 305 sales observed in August of 2022, sales have increased by 109 units, or 36%.
1311 Condominium style homes were available for purchase in the Fraser Valley Real Estate Board in August 2023; this represents an increase of 36 units, or 3%, when compared to the 1275 units observed in inventory last month. When comparing this months inventory (1311 units) to the 1208 units of available inventory observed in August of 2022, inventory has increased by 103 units, or 9%.
$557,198 is the average price for a Condominium style home sold in August 2023; this represents a decrease of $1,890 in the average sales price, or -0.3% when compared to the average price of sales observed last month ($559,088). When comparing the current months average sale price ($557,198) to the average sale price $539,217 observed in August of 2022, the sale price has increased by $17,981, or 3%.
When looking at August YTD Condominium sales for each respective year since 2015, 2023 sales currently rank 4th.