Blog Post

Market Numbers April 01, 2022

Andy Schildhorn • April 5, 2022

Continued growth in new listings a hopeful sign for home buyers in the Fraser Valley

SURREY, BC – For the third consecutive month, new listings in the Fraser Valley continued to climb in March giving buyers more to choose from, helping to increase overall active inventory to levels not seen since last July.

Property sales remain robust, as Benchmark prices, the price of a ‘typical’ home, continued to increase month-over-month. 

In March, the FVREB processed 2,580 residential and commercial sales on its Multiple Listing Service® (MLS®), a decrease of 22.5 per cent compared to March 2021 and 41.4 per cent more than were processed in February. 

Sandra Benz, President of the Board, said of this month’s statistics, “Sales were strong again in March as more new listings continued to come on stream. We’re hopeful this will contribute to a slowing in price growth, which is good news for the home-buying public.

Other encouraging signs, such as less open house traffic and fewer multiple offers, may help us get to a more balanced market, however until the fundamental issue of lack of supply is addressed, we won’t see that happen anytime soon.”
Baldev Gill, Chief Executive Officer of the Board, added, “We may not see the impact of recent interest rate hikes on the market trends until later in 2022. With fixed rates nearly double what they were a year ago, new homebuyers will likely be more impacted than other segments of the home-buying public, as mortgage stress test conditions become more stringent. We hope to see equal efforts from government to address inventory issues to help make housing more affordable.”
Across Fraser Valley, in March, the average number of days to sell a single-family detached home was 12 and a townhome was 14 days. Apartments took, on average, 11 days to sell. 

MLS® HPI Benchmark Price Activity

Single Family Detached: At $1,726,900, the Benchmark price for an FVREB single-family detached home increased 3.4 per cent compared to February 2022 and increased 39.5 per cent compared to March 2021.

Townhomes: At $886,400, the Benchmark price for an FVREB townhome increased 5.4 per cent compared to February 2022 and increased 41.9 per cent compared to March 2021.

Apartments: At $643,000, the Benchmark price for an FVREB apartment/condo increased 4.6 per cent compared to February 2022 and increased 38.2 per cent compared to March 2021.

Live Traffic Views in Langley

By Andy Schildhorn • April 3, 2025
The Township of Langley Traffic Cameras for up to date traffic information. Click here

🏡Tariffs, economic uncertainty stall spring market in the Fraser Valley📈

By Andy Schildhorn • April 2, 2025
SURREY, BC – March home sales in the Fraser Valley remained nearly 50 per cent below the 10-year average — making for the slowest start to the spring market in more than 15 years. The Fraser Valley Real Estate Board recorded 1,036 sales in March, up 13 per cent from February, but still 26 per cent below sales recorded this time last year. Following a decline on the Board’s Multiple Listing Service® (MLS®) in February, new listings increased 22 per cent in March to 3,800. Overall inventory is at a decade-high level, with 9,219 active listings, 49 per cent above March 2024 and 59 per cent above the 10-year seasonal average.

Best places to see cherry blossoms

By Tom Zillich | Surrey Now-Leader • April 2, 2025
For a short time, parks and streets in Surrey, White Rock and Delta will soon be filled with the white and pink hues of cherry blossoms. Those beautiful blooms are around for only a couple of weeks every April. This week, Discover Surrey posted a list of favourite places to see the Japanese flowering trees in Surrey, including Bear Creek Park (13750 88 Ave.), Nico-Wynd Golf Course (3601 Nico-Wynd Place), 95 Avenue at 154 Street, Spenser Drive at 151A Street and 150B Street at 24 Avenue.  Find out more.
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