January 2023 - Fraser Valley Real Estate Market Snapshot of your publication

REAL ESTATE MARKET SNAPSHOT THE FRASER VALLEY

JANUARY 2023

Jamie Squires - Fifth Avenue Real Estate Marketing Ltd.

FRASERVALLEYREALESTATEBOARD

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-and-conditions/

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 FRASERVALLEY

REALESTATEBOARD ITISA BUYERS MARKETFORSINGLEFAMILY STYLE HOMES.

182 Single Family style homes sold in the Fraser Valley Real Estate Board in January 2023. This represents a decrease of 38 unit sales, or -17% when compared to the 220 sales observed last month. When comparing the current month's sales (182 sales) to the 469 sales observed in January of 2022, sales have decreased by 287 units, or -61%.

1350 Single Family style homes were available for purchase in the Fraser Valley Real Estate Board in January 2023; this represents an increase of 46 units, or 4%, when compared to the 1304 units observed in inventory last month. When comparing this months inventory (1350 units) to the 801 units of available inventory observed in January of 2022, inventory has increased by 549 units, or 69%.

Chart 2: FVREB Single Family Inventory

FRASER VALLEY REAL ESTATE BOARD SINGLE FAMILY AVERAGE PRICE

$1,382,775 is the average price for a Single Family style home sold in January 2023. This represents an increase of $5,272 in the average sales price, or 0.4% when compared to the average price of sales observed last month ($1,377,503). When comparing the current months average sale price ($1,382,775) to the average sale price $1,819,027 observed in January of 2022, the sale price has decreased by $1,819,027, or24%. When looking at January YTD Single Family sales for each respective year since 2015, 2023 sales currently rank 7th.

CURRENTLY IN THE FRASERVALLEY

REALESTATEBOARD ITISA BALANCED MARKETFORTOWNHOMESTYLE HOMES.

170 Townhome style homes sold in the Fraser Valley Real Estate Board in January 2023. This represents an increase of 17 unit sales, or 11% when compared to the 153 sales observed last month. When comparing the current months sales (170 sales) to the 289 sales observed in January of 2022, sales have decreased by 119 units, or -41%.

659 Townhome style homes were available for purchase in the Fraser Valley Real Estate Board in January 2023; this represents an increase of 6 units, or 1%, when compared to the 653 units observed in inventory last month. When comparing this months inventory (659 units) to the 326 units of available inventory observed in January of 2022, inventory has increased by 333 units, or 102%.

$757,981 is the average price for a Townhome style home sold in January 2023; this represents an increase of $19,517 in the average sales price, or 2.6% when compared to the average price of sales observed last month ($738,464). When comparing the current months average sale price ($757,981) to the average sale price $929,872 observed in January of 2022, the sale price has decreased by $929,872, or -18%.

When looking at January YTD Townhome sales for each respective year since 2015, 2023 sales currently rank 7th.

CURRENTLY IN THE FRASERVALLEY REALESTATEBOARD ITISA BUYERS MARKETFORCONDOMINIUM STYLE HOMES.

198 Condominium style homes sold in the Fraser Valley Real Estate Board in January 2023. This represents a decrease of 21 unit sales, or -10% when compared to the 219 sales observed last month. When comparing the current months sales (198 sales) to the 418 sales observed in January of 2022, sales have decreased by 220 units, or -53%.

970 Condominium style homes were available for purchase in the Fraser Valley Real Estate Board in January 2023; this represents an increase of 92 units, or 10%, when compared to the 878 units observed in inventory last month. When comparing this months inventory (970 units) to the 422 units of available inventory observed in January of 2022, inventory has increased by 548 units, or 130%.

Source: Fraser Valley Real Estate Board - REALTORS ®

Source: Fraser Valley Real Estate Board - REALTORS ®

Chart 9: FVREB Condominium Sales

Chart 10: FVREB Condominium Inventory

FRASER VALLEY REAL ESTATE BOARD CONDOMINIUM AVERAGE PRICE JANUARY 2023

$512,201 is the average price for a Condominium style home sold in January 2023; this represents an increase of $15,507 in the average sales price, or 3.1% when compared to the average price of sales observed last month ($496,694). When comparing the current months average sale price ($512,201) to the average sale price $575,324 observed in January of 2022, the sale price has decreased by $575,324, or11%. When looking at January YTD Condominium sales for each respective year since 2015, 2023 sales currently rank 7th.