The Fraser Valley housing market continues its trend heading into the holiday season. Novembers total sales were 839, a 57.5% decrease year over year from November 2021 and down 6.9% from October 2022. Currently there 6.35 months of inventory in the market and the average days on Market is 30 days. Single Family Detached: At $1,404,900, the Benchmark price for a FVREB single-family detached home decreased 2.2 per cent compared to October 2022. Townhomes: At $799,400, the Benchmark price for a FVREB townhome decreased 1.3 per cent compared to October 2022. Apartments: At $518,400, the Benchmark price for a FVREB apartment/condo decreased 1.8 per cent compared to October 2022. The holding pattern presents opportunities for savvy buyers and for sellers to move well priced properties. Contact me if you're considering a move.
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FVREB SURREY BC - Year over year the number of sold units for October were down across the board and new listings slower as buyers and sellers try to a find a balance in the market. Prices continued to soften, with month-over-month Benchmark prices down slightly across all property categories. For detached homes, prices are on par with October 2021 levels, while townhomes and apartments are up 7.7 per cent and 11.5 per cent, respectively, over 2021. The average number of days spent on the market before selling was relatively unchanged for detached homes and apartments compared to last month (34 days and 31 days, respectively). Townhomes moved more quickly at 27 days (compared to 32 days in September). FVREB Statistics package