{"id":68604,"date":"2022-09-06T22:20:06","date_gmt":"2022-09-06T22:20:06","guid":{"rendered":"https:\/\/schreders.ca\/?p=68604"},"modified":"2022-11-16T14:05:40","modified_gmt":"2022-11-16T19:05:40","slug":"fraser-valley-real-estate-market-august-2022","status":"publish","type":"post","link":"https:\/\/www.schreders.ca\/blog\/fraser-valley-real-estate-market-august-2022\/","title":{"rendered":"Fraser Valley Real Estate Market August 2022"},"content":{"rendered":"\n<p class=\"has-text-color\" style=\"color:#8f0509;font-size:30px\">Fraser Valley housing market signals further settling as sales continue to stall in response to interest rate rises<\/p>\n\n\n\n<p>The Fraser Valley real estate market continued to settle into more of a balanced state during August.&nbsp; Buyers simply have more options to choose from than they did before.&nbsp; Combine this with hesitation and limited purchasing power&nbsp;due to interest rate hikes means the days of putting up a For Sale sign knowing that you would be slapping a Sold sticker on it in a few days are over. The average days on market for a single family home is up to 33 days.&nbsp; This doesn&#8217;t mean homes aren&#8217;t selling, it just means you have to have a well thought out strategy and an experienced Realtor to execute&nbsp;the plan in order to maximize your sale price.&nbsp; Having a great Realtor on your side will also enable you to capitalize on potential good buying opportunities&nbsp;that are out there.&nbsp; Do you know any good Realtors?&nbsp; Call us today \ud83d\ude09<br><\/p>\n\n\n\n<p class=\"has-text-align-center has-vivid-red-color has-very-light-gray-background-color has-text-color has-background\"><a href=\"https:\/\/schreders.ca\/langley-city\/\" target=\"_blank\" rel=\"noreferrer noopener\">See Listed Properties For Sale in Langley BC<\/a><\/p>\n\n\n\n<p><strong>If you are considering selling, buying or just have questions about the market<\/strong>, please give us a call today and <a href=\"https:\/\/schreders.ca\/contact\/\" target=\"_blank\" rel=\"noreferrer noopener\">let\u2019s chat<\/a>.<\/p>\n\n\n\n<p class=\"has-text-align-center has-vivid-red-color has-very-light-gray-background-color has-text-color has-background has-medium-font-size\"><strong><a href=\"https:\/\/schreders.ca\/blog\/fraser-valley-real-estate-market-july-2022\/\" target=\"_blank\" rel=\"noreferrer noopener\">GO TO LAST MONTHS STATS<\/a><\/strong><\/p>\n\n\n\n<hr class=\"wp-block-separator has-css-opacity\" \/>\n\n\n<div class=\"wp-block-image\">\n<figure class=\"aligncenter size-full\"><img loading=\"lazy\" decoding=\"async\" width=\"810\" height=\"450\" src=\"https:\/\/schreders.ca\/wp-content\/uploads\/2022\/09\/August-Housing-update.jpg\" alt=\"August -Housing update\" class=\"wp-image-68606\" srcset=\"https:\/\/www.schreders.ca\/blog\/wp-content\/uploads\/2022\/09\/August-Housing-update.jpg 810w, https:\/\/www.schreders.ca\/blog\/wp-content\/uploads\/2022\/09\/August-Housing-update-300x167.jpg 300w, https:\/\/www.schreders.ca\/blog\/wp-content\/uploads\/2022\/09\/August-Housing-update-768x427.jpg 768w\" sizes=\"auto, (max-width: 810px) 100vw, 810px\" \/><\/figure>\n<\/div>\n\n\n<hr class=\"wp-block-separator has-css-opacity\" \/>\n\n\n\n<p class=\"has-text-align-center has-text-color has-background has-medium-font-size\" style=\"background-color:#8f060b;color:#ffffff\">All Fraser Valley Areas Combined <\/p>\n\n\n\n<ul class=\"wp-block-list\"><li><strong>Detached<\/strong> &#8211; SALES UP FROM LAST MONTH: 6.1%<\/li><li><strong>Townhouse<\/strong> &#8211; SALES UP FROM LAST MONTH: 20.5% <\/li><li><strong>Condo\/Apt<\/strong> &#8211; SALES DOWN FROM LAST MONTH: -14.3% <\/li><\/ul>\n\n\n\n<figure class=\"wp-block-image size-full\"><img loading=\"lazy\" decoding=\"async\" width=\"993\" height=\"145\" src=\"https:\/\/schreders.ca\/wp-content\/uploads\/2022\/09\/image.png\" alt=\"\" class=\"wp-image-68607\" srcset=\"https:\/\/www.schreders.ca\/blog\/wp-content\/uploads\/2022\/09\/image.png 993w, https:\/\/www.schreders.ca\/blog\/wp-content\/uploads\/2022\/09\/image-300x44.png 300w, https:\/\/www.schreders.ca\/blog\/wp-content\/uploads\/2022\/09\/image-768x112.png 768w\" sizes=\"auto, (max-width: 993px) 100vw, 993px\" \/><\/figure>\n\n\n\n<hr class=\"wp-block-separator has-css-opacity\" \/>\n\n\n\n<p class=\"has-text-align-center has-text-color has-background has-medium-font-size\" style=\"background-color:#8f060b;color:#ffffff\">Abbotsford<\/p>\n\n\n\n<ul class=\"wp-block-list\"><li><strong>Detached<\/strong> &#8211; SALES DOWN FROM LAST MONTH: -8.2%<\/li><li><strong>Townhouse<\/strong> &#8211; SALES UP FROM LAST MONTH: 17.4% <\/li><li><strong>Condo\/Apt<\/strong> &#8211; SALES DOWN FROM LAST MONTH: -27.3%  <\/li><\/ul>\n\n\n\n<figure class=\"wp-block-image size-full\"><img loading=\"lazy\" decoding=\"async\" width=\"1008\" height=\"155\" src=\"https:\/\/schreders.ca\/wp-content\/uploads\/2022\/09\/image-1.png\" alt=\"\" class=\"wp-image-68608\" srcset=\"https:\/\/www.schreders.ca\/blog\/wp-content\/uploads\/2022\/09\/image-1.png 1008w, https:\/\/www.schreders.ca\/blog\/wp-content\/uploads\/2022\/09\/image-1-300x46.png 300w, https:\/\/www.schreders.ca\/blog\/wp-content\/uploads\/2022\/09\/image-1-768x118.png 768w\" sizes=\"auto, (max-width: 1008px) 100vw, 1008px\" \/><\/figure>\n\n\n\n<hr class=\"wp-block-separator has-css-opacity\" \/>\n\n\n\n<p class=\"has-text-align-center has-text-color has-background has-medium-font-size\" style=\"background-color:#8f060b;color:#ffffff\">Mission<\/p>\n\n\n\n<ul class=\"wp-block-list\"><li><strong>Detached<\/strong> &#8211; SALES DOWN FROM LAST MONTH:  -33.3%<\/li><li><strong>Townhouse<\/strong> &#8211; SALES FROM UP LAST MONTH:  33.3% <\/li><li><strong>Condo\/Apt<\/strong> &#8211;  SALES FROM LAST MONTH: N\/A <\/li><\/ul>\n\n\n\n<figure class=\"wp-block-image size-full\"><img loading=\"lazy\" decoding=\"async\" width=\"1012\" height=\"153\" src=\"https:\/\/schreders.ca\/wp-content\/uploads\/2022\/09\/image-2.png\" alt=\"\" class=\"wp-image-68609\" srcset=\"https:\/\/www.schreders.ca\/blog\/wp-content\/uploads\/2022\/09\/image-2.png 1012w, https:\/\/www.schreders.ca\/blog\/wp-content\/uploads\/2022\/09\/image-2-300x45.png 300w, https:\/\/www.schreders.ca\/blog\/wp-content\/uploads\/2022\/09\/image-2-768x116.png 768w\" sizes=\"auto, (max-width: 1012px) 100vw, 1012px\" \/><\/figure>\n\n\n\n<hr class=\"wp-block-separator has-css-opacity\" \/>\n\n\n\n<p class=\"has-text-align-center has-text-color has-background has-medium-font-size\" style=\"background-color:#8f060b;color:#ffffff\">White Rock \/ South Surrey<\/p>\n\n\n\n<ul class=\"wp-block-list\"><li><strong>Detached<\/strong> &#8211; SALES UP FROM LAST MONTH: 2.5% <\/li><li><strong>Townhouse <\/strong>&#8211; SALES UP FROM LAST MONTH: 25.0%  <\/li><li><strong>Condo\/Apt<\/strong> &#8211; SALES DOWN FROM LAST MONTH: -14.3%   <\/li><\/ul>\n\n\n\n<figure class=\"wp-block-image size-full\"><img loading=\"lazy\" decoding=\"async\" width=\"1003\" height=\"150\" src=\"https:\/\/schreders.ca\/wp-content\/uploads\/2022\/09\/image-3.png\" alt=\"\" class=\"wp-image-68610\" srcset=\"https:\/\/www.schreders.ca\/blog\/wp-content\/uploads\/2022\/09\/image-3.png 1003w, https:\/\/www.schreders.ca\/blog\/wp-content\/uploads\/2022\/09\/image-3-300x45.png 300w, https:\/\/www.schreders.ca\/blog\/wp-content\/uploads\/2022\/09\/image-3-768x115.png 768w\" sizes=\"auto, (max-width: 1003px) 100vw, 1003px\" \/><\/figure>\n\n\n\n<hr class=\"wp-block-separator has-css-opacity\" \/>\n\n\n\n<p class=\"has-text-align-center has-text-color has-background has-medium-font-size\" style=\"background-color:#8f060b;color:#ffffff\">Langley<\/p>\n\n\n\n<ul class=\"wp-block-list\"><li><strong>Detached <\/strong>&#8211; SALES UP FROM LAST MONTH:  11.9% <\/li><li><strong>Townhouse <\/strong>&#8211; SALES UP FROM LAST MONTH: 11.5% <\/li><li><strong>Condo\/Apt<\/strong> &#8211; SALES DOWN FROM LAST MONTH:  -29.7% <\/li><\/ul>\n\n\n\n<figure class=\"wp-block-image size-full\"><img loading=\"lazy\" decoding=\"async\" width=\"1015\" height=\"151\" src=\"https:\/\/schreders.ca\/wp-content\/uploads\/2022\/09\/image-4.png\" alt=\"\" class=\"wp-image-68611\" srcset=\"https:\/\/www.schreders.ca\/blog\/wp-content\/uploads\/2022\/09\/image-4.png 1015w, https:\/\/www.schreders.ca\/blog\/wp-content\/uploads\/2022\/09\/image-4-300x45.png 300w, https:\/\/www.schreders.ca\/blog\/wp-content\/uploads\/2022\/09\/image-4-768x114.png 768w\" sizes=\"auto, (max-width: 1015px) 100vw, 1015px\" \/><\/figure>\n\n\n\n<hr class=\"wp-block-separator has-css-opacity\" \/>\n\n\n\n<p class=\"has-text-align-center has-text-color has-background has-medium-font-size\" style=\"background-color:#8f060b;color:#ffffff\">Delta \u2013 North<\/p>\n\n\n\n<ul class=\"wp-block-list\"><li><strong>Detached <\/strong>&#8211; SALES UP FROM LAST MONTH:  20.8% <\/li><li><strong>Townhouse <\/strong>&#8211; SALES UP FROM LAST MONTH: 57.1% <\/li><li><strong>Condo\/Apt<\/strong> &#8211; SALES FROM LAST MONTH: N\/A<\/li><\/ul>\n\n\n\n<figure class=\"wp-block-image size-full\"><img loading=\"lazy\" decoding=\"async\" width=\"1006\" height=\"150\" src=\"https:\/\/schreders.ca\/wp-content\/uploads\/2022\/09\/image-5.png\" alt=\"\" class=\"wp-image-68612\" srcset=\"https:\/\/www.schreders.ca\/blog\/wp-content\/uploads\/2022\/09\/image-5.png 1006w, https:\/\/www.schreders.ca\/blog\/wp-content\/uploads\/2022\/09\/image-5-300x45.png 300w, https:\/\/www.schreders.ca\/blog\/wp-content\/uploads\/2022\/09\/image-5-768x115.png 768w\" sizes=\"auto, (max-width: 1006px) 100vw, 1006px\" \/><\/figure>\n\n\n\n<hr class=\"wp-block-separator has-css-opacity\" \/>\n\n\n\n<p class=\"has-text-align-center has-text-color has-background has-medium-font-size\" style=\"background-color:#8f060b;color:#ffffff\">Surrey \u2013 Central<\/p>\n\n\n\n<ul class=\"wp-block-list\"><li><strong>Detached <\/strong>&#8211; SALES UP FROM LAST MONTH: 4.0% <\/li><li><strong>Townhouse<\/strong> &#8211; SALES UP FROM LAST MONTH: 14.3% <\/li><li><strong>Condo\/Apt<\/strong> &#8211; SALES UP FROM LAST MONTH: 50.0% <\/li><\/ul>\n\n\n\n<figure class=\"wp-block-image size-full\"><img loading=\"lazy\" decoding=\"async\" width=\"1005\" height=\"151\" src=\"https:\/\/schreders.ca\/wp-content\/uploads\/2022\/09\/image-6.png\" alt=\"\" class=\"wp-image-68613\" srcset=\"https:\/\/www.schreders.ca\/blog\/wp-content\/uploads\/2022\/09\/image-6.png 1005w, https:\/\/www.schreders.ca\/blog\/wp-content\/uploads\/2022\/09\/image-6-300x45.png 300w, https:\/\/www.schreders.ca\/blog\/wp-content\/uploads\/2022\/09\/image-6-768x115.png 768w\" sizes=\"auto, (max-width: 1005px) 100vw, 1005px\" \/><\/figure>\n\n\n\n<hr class=\"wp-block-separator has-css-opacity\" \/>\n\n\n\n<p class=\"has-text-align-center has-text-color has-background has-medium-font-size\" style=\"background-color:#8f060b;color:#ffffff\">Surrey \u2013 Cloverdale<\/p>\n\n\n\n<ul class=\"wp-block-list\"><li><strong>Detached<\/strong> &#8211; SALES DOWN FROM LAST MONTH: -24.1% <\/li><li><strong>Townhouse <\/strong>&#8211; SALES DOWN FROM LAST MONTH: -15.2% <\/li><li><strong>Condo\/Apt<\/strong> &#8211; SALES UP FROM LAST MONTH: 36.4% <\/li><\/ul>\n\n\n\n<figure class=\"wp-block-image size-full\"><img loading=\"lazy\" decoding=\"async\" width=\"1005\" height=\"149\" src=\"https:\/\/schreders.ca\/wp-content\/uploads\/2022\/09\/image-7.png\" alt=\"\" class=\"wp-image-68614\" srcset=\"https:\/\/www.schreders.ca\/blog\/wp-content\/uploads\/2022\/09\/image-7.png 1005w, https:\/\/www.schreders.ca\/blog\/wp-content\/uploads\/2022\/09\/image-7-300x44.png 300w, https:\/\/www.schreders.ca\/blog\/wp-content\/uploads\/2022\/09\/image-7-768x114.png 768w\" sizes=\"auto, (max-width: 1005px) 100vw, 1005px\" \/><\/figure>\n\n\n\n<hr class=\"wp-block-separator has-css-opacity\" \/>\n\n\n\n<p class=\"has-text-align-center has-text-color has-background has-medium-font-size\" style=\"background-color:#8f060b;color:#ffffff\">Surrey \u2013 North<\/p>\n\n\n\n<ul class=\"wp-block-list\"><li><strong>Detached <\/strong>&#8211; SALES UP FROM LAST MONTH:  24.0% <\/li><li><strong>Townhouse <\/strong>&#8211; SALES UP FROM LAST MONTH:  228.6% <\/li><li><strong>Condo\/Apt<\/strong> &#8211; SALES DOWN FROM LAST MONTH:  -17.3% <\/li><\/ul>\n\n\n\n<figure class=\"wp-block-image size-full\"><img loading=\"lazy\" decoding=\"async\" width=\"1011\" height=\"160\" src=\"https:\/\/schreders.ca\/wp-content\/uploads\/2022\/09\/image-8.png\" alt=\"\" class=\"wp-image-68615\" srcset=\"https:\/\/www.schreders.ca\/blog\/wp-content\/uploads\/2022\/09\/image-8.png 1011w, https:\/\/www.schreders.ca\/blog\/wp-content\/uploads\/2022\/09\/image-8-300x47.png 300w, https:\/\/www.schreders.ca\/blog\/wp-content\/uploads\/2022\/09\/image-8-768x122.png 768w\" sizes=\"auto, (max-width: 1011px) 100vw, 1011px\" \/><\/figure>\n\n\n\n<p class=\"has-text-align-center has-text-color has-background has-medium-font-size\" style=\"background-color:#8f060b;color:#ffffff\"> What Does The Fraser Valley Real Estate Board Have To Say?  <\/p>\n\n\n\n<h1 class=\"wp-block-heading\" id=\"glimmer-of-hope-for-fraser-valley-home-buyers-as-new-listings-surge-in-january-1\">Fraser Valley housing market signals further settling as sales continue to stall in response to interest rate rises<\/h1>\n\n\n\n<p>SURREY, BC \u2013<\/p>\n\n\n\n<p>Robust active listings and relative steady sales activity continued to bring balance to the Fraser Valley real estate market in August. The past several months of rising inventory combined with a slowing trend in sales has also seen benchmark prices return to levels not seen since last year.<\/p>\n\n\n\n<p>In August, the Fraser Valley Real Estate Board (FVREB) processed 1,017 sales on its Multiple Listing Service\u00ae (MLS\u00ae), an increase of 2.4 per cent compared to last month and a 51.3 per cent decrease compared to this time last year.<\/p>\n\n\n\n<p>The Board received 2,045 new listings in August, a decrease of 14.3 per cent compared to July, and only 2.9 per cent less than August 2021. The month ended with a total active inventory of 5,871, a decrease of 8.5 per cent from last month but up by 44 percent compared to August 2021. Once again August saw a balanced market in the Fraser Valley with an overall sales-to-active ratio of 17 per cent (the market is considered balanced when the salesto-active ratio is between 12 per cent and 20 per cent).<\/p>\n\n\n\n<p>\u201cFor the past three months we\u2019ve seen the local market return to a more balanced state,\u201d said Board President, Sandra Benz. \u201cWith the Fraser Valley continuing to settle after months of record sales and prices, we expect to see more activity this coming fall as buyers look to capitalize on the region\u2019s reputation for providing greater value for the real estate dollar.\u201d<br>Benchmark prices continued to fall across all property categories, bringing them in relative line with prices from December 2021 and eating into year-over year gains.<br><br>\u201cWith possible further hikes in interest rates this fall, homebuyers need to augment their decisions with critical advice and guidance,\u201d said Baldev Gill, Board CEO. \u201cAlong with other professionals such as mortgage brokers and lawyers, Fraser Valley REALTORS\u00ae are a vital part of the team advising buyers and sellers on market realities and identifying potential opportunities that align with their objectives.\u201d<br>Across the Fraser Valley in August, the average number of days to sell a single-family detached home increased to 33 and for townhomes to 26 days. Apartments took, on average, 25 days to sell.<\/p>\n\n\n\n<p><strong>MLS\u00ae HPI Benchmark Price Activity<\/strong><\/p>\n\n\n\n<ul class=\"wp-block-list\"><li><strong>Single Family Detached<\/strong>: <\/li><\/ul>\n\n\n\n<p>At $1,513,500, the Benchmark price for an FVREB single-family detached home decreased 5.1 per cent compared to July 2022 and increased 9.8 per cent compared to August 2021.<\/p>\n\n\n\n<ul class=\"wp-block-list\"><li><strong>Townhomes:<\/strong> <\/li><\/ul>\n\n\n\n<p>At $841,900, the Benchmark price for an FVREB townhome decreased 3.9 per cent compared to July 2022 and increased 16.1 per cent compared to August 2021.<\/p>\n\n\n\n<ul class=\"wp-block-list\"><li><strong>Apartments:<\/strong> <\/li><\/ul>\n\n\n\n<p>At $542,000 the Benchmark price for an FVREB apartment\/condo decreased 2.1 per cent compared to July 2022 and increased 18.4 per cent compared to August 2021.<\/p>\n\n\n\n<p>Find the August 2022 Statistics Package&nbsp;<a href=\"http:\/\/fvreb.bc.ca\/statistics\/Package202208.pdf\" target=\"_blank\" rel=\"noreferrer noopener\">here<\/a>.<\/p>\n\n\n<hr>\n<h3 style=\"text-align: center\">Are you a stats geek?<\/h3>\n<h4 style=\"text-align: center\">Want to see a breakdown of all the numbers yourself? Sign up for a&nbsp;<strong>Full Monthly Statistics Package<\/strong> every month.<\/h4>\n<table style=\"background-color: #8f0509\" width=\"100%\">\n<tbody>\n<tr>\n<td style=\"width: 100%;text-align: center\">\n<h2><span style=\"color: #ffffff\">Get The Full Monthly Statistics Package<\/span><\/h2>\n<p>[su_button url=&#8221;https:\/\/services.ixactcontact.com\/iXactIntegration\/LeadCapture.aspx?pa1=mDqvei24ZHf5cJtWuzruQA%3D%3D&amp;pa2=KoKOtVgIxRWRMZuUkk%2Bg4Q%3D%3D&amp;pa3=GJu3Z4rE%2BhvFToc5zvvE7JQVXhcxkCXM&#8221; target=&#8221;blank&#8221; style=&#8221;flat&#8221; background=&#8221;#000000&#8243; color=&#8221;#ffffff&#8221; size=&#8221;8&#8243; center=&#8221;yes&#8221; radius=&#8221;0&#8243;]Sign Up![\/su_button]<\/p>\n<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<p>&nbsp;<\/p>\n\n\n<p><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Fraser Valley housing market signals further settling as sales continue to stall in response to interest rate rises The Fraser Valley real estate market continued to &hellip;<\/p>\n","protected":false},"author":2,"featured_media":68620,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[4,64],"tags":[136],"class_list":["post-68604","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-blog-post","category-monthly-market-updates","tag-fvreb"],"aioseo_notices":[],"_links":{"self":[{"href":"https:\/\/www.schreders.ca\/blog\/wp-json\/wp\/v2\/posts\/68604","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.schreders.ca\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.schreders.ca\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.schreders.ca\/blog\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.schreders.ca\/blog\/wp-json\/wp\/v2\/comments?post=68604"}],"version-history":[{"count":1,"href":"https:\/\/www.schreders.ca\/blog\/wp-json\/wp\/v2\/posts\/68604\/revisions"}],"predecessor-version":[{"id":70428,"href":"https:\/\/www.schreders.ca\/blog\/wp-json\/wp\/v2\/posts\/68604\/revisions\/70428"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.schreders.ca\/blog\/wp-json\/wp\/v2\/media\/68620"}],"wp:attachment":[{"href":"https:\/\/www.schreders.ca\/blog\/wp-json\/wp\/v2\/media?parent=68604"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.schreders.ca\/blog\/wp-json\/wp\/v2\/categories?post=68604"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.schreders.ca\/blog\/wp-json\/wp\/v2\/tags?post=68604"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}