{"id":68047,"date":"2022-08-09T21:02:44","date_gmt":"2022-08-09T21:02:44","guid":{"rendered":"https:\/\/schreders.ca\/?p=68047"},"modified":"2022-11-16T14:05:40","modified_gmt":"2022-11-16T19:05:40","slug":"fraser-valley-real-estate-market-july-2022","status":"publish","type":"post","link":"https:\/\/www.schreders.ca\/blog\/fraser-valley-real-estate-market-july-2022\/","title":{"rendered":"Fraser Valley Real Estate Market July 2022"},"content":{"rendered":"\n

Sales slide for fourth straight month as rising interest rates put brakes on Fraser Valley real estate market<\/p>\n\n\n\n

Fraser Valley Real Estate Report<\/strong><\/h4>\n\n\n\n

Sales dropped for the fourth straight month, as the Fraser Valley Real Estate Board (FVREB) processed 993 sales in July, a decrease of 22.5% from the previous month.  The weaker demand also resulted in prices dropping for the fourth consecutive month, most notably for detached homes which ended the month with its benchmark price down 3.5% from last month.<\/p>\n\n\n\n

The market is considered balanced when the sales-to-active ratio is between 12% and 20%.  This means that the current markets for townhomes and detached homes (sales-to-active ratios: 18% and 12%, respectively) are balanced.  While condos (at 28%) are still slightly favouring Sellers.<\/p>\n\n\n\n

There are good opportunities out there for Buyers, and with further interest rate increases on the horizon, it\u2019s an ideal time to start a mortgage application to lock in those rates.  We can help with that too! 
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See Listed Properties For Sale in Langley BC<\/a><\/p>\n\n\n\n

If you are considering selling, buying or just have questions about the market<\/strong>, please give us a call today and let\u2019s chat<\/a>.<\/p>\n\n\n\n

GO TO LAST MONTHS STATS<\/a><\/strong><\/p>\n\n\n\n

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All Fraser Valley Areas Combined <\/p>\n\n\n\n