The Fraser Valley real estate market saw a second consecutive month of growth in sales in March 2023, although sales are still below seasonal norms. Low supply remains an issue driving price growth, with new listings up from last month but still below last year's levels. The sales-to-active listings ratio shifted the market into seller territory, with demand for townhomes particularly high. Benchmark prices increased by roughly two percent month-over-month across all categories.
MLS® HPI Benchmark Price Activity
• Single Family Detached: At $1,390,600 the Benchmark price for an FVREB single-family detached home increased 1.9 per cent compared to February 2023 and decreased 21.7 per cent compared to March 2022.
• Townhomes: At $794,400, the Benchmark price for an FVREB townhome increased 2.3 per cent compared to February 2023 and decreased 14.5 per cent compared to March 2022.
• Apartments: At $521,800 the Benchmark price for an FVREB apartment/condo increased 2.3 per cent compared to February 2023 and decreased 11 per cent compared to March 2022.
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The data relating to real estate on this website comes in part from the MLS® Reciprocity program of either the Real Estate Board of Greater Vancouver (REBGV), the Fraser Valley Real Estate Board (FVREB) or the Chilliwack and District Real Estate Board (CADREB). Real estate listings held by participating real estate firms are marked with the MLS® logo and detailed information about the listing includes the name of the listing agent. This representation is based in whole or part on data generated by either the REBGV, the FVREB or the CADREB which assumes no responsibility for its accuracy. The materials contained on this page may not be reproduced without the express written consent of either the REBGV, the FVREB or the CADREB.