After nearly a year of month-over-month decreases, the Fraser Valley real estate market showed signs of stability in February with an increase in prices and sales, creating more opportunities for home buyers and sellers.
These residential market statistics from the Fraser Valley Real Estate Board provide insight into the current state of the residential home market, including home values, which directly impact the development land market. Contact us today if you would like to learn what your property is worth on the development land market.
HPI Benchmark Price of Detached Homes
The benchmark price for detached homes changed trajectory for the first time since April with a slight increase.
Sale Price As a Percent of Original List Price
The declining trend for the percent of original sale price has come to a halt as we see slight increases across the board from the previous month.
Days on Market
The average days on market for all product types had a significant drop compared to last month.
Looking for a new home? Check out these featured new homes courtesy of our affiliate company, Breakside Real Estate Group.
Fraser Valley ReSIDENTIAL REAL ESTATE: FEBRUARY 2023 statistics in infographics
HPI Benchmark Prices
The Home Price Index (HPI) measures the price of a benchmark, or typical, property in a given market and is not influenced by the change in composition of properties sold, which can fluctuate quite significantly from month to month. As a result, this metric is a more pure and stable representation of market price change than average or median prices.
Sales • New Listings • Active Listings
There was a shift in the market for detached homes and condos in February, with an increase in sales, shifting from the continuous trend of declining sales.
Sources: Breakside Real Estate Group, Fraser Valley Real Estate Board
This representation is based in whole or in part on data generated by the Fraser Valley Real Estate Board which assumes no responsibility for its accuracy.