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Market Numbers February 01, 2022

Andy Schildhorn • February 2, 2022

Glimmer of hope for Fraser Valley home buyers as new listings surge in January

SURREY, BC - On the heels of the busiest year in history for Fraser Valley real estate, January activity saw the beginnings of a market rebalancing. Overall property sales — still the third highest ever for January — cooled compared to December while the volume of new listings improved significantly. 

The Fraser Valley Real Estate Board processed a total of 1,310 sales of all property types on its Multiple Listing Service®(MLS®) in January 2022, a decrease of 23.7 per cent compared to January 2021, and 27.5 per cent lower compared to December 2021. 

The Board received 2,135 new listings in January, an increase of 67.1 per cent compared to December 2021, and a decrease of 23.3 per cent compared to January of last year. Total active listings for the month were 2,332, down 44.6 per cent compared to January 2021, however an increase of 19.2 per cent compared to December 2021. 

Larry Anderson, President of the Board, said, "In January, REALTORS® saw the return of home sellers. Yes, sales in our region remain elevated, but a positive, early trend for 2022 is we experienced a significant increase in requests from sellers to list.
"It's early days yet, but if this trend continues into spring, we could see an easing of the supply-demand dynamic in our region. We have a long way to go to replenish our housing stock and bring much-needed balance to the market, but this is a step in the right direction."
Baldev Gill, Chief Executive Officer of the Board, said "We anticipate the seasonal influx of new inventory, such as we're already seeing, could provide a welcome, albeit far from fully adequate, easing of price growth moving into 2022."

In January 2022, the average number of days to sell a single-family detached home in the Fraser Valley was 25, compared to 35 days in January 2021; 12 days on average to sell a townhome and 17 days for apartments, compared to 28 and 37 days respectively, in January of last year.

MLS® HPI Benchmark Price Activity

Single Family Detached: At $1,569,300, the Benchmark price for an FVREB single-family detached home increased 4.6 per cent compared to December 2021 and increased 41.8 per cent compared to January 2021.

Townhomes: At $796,500, the Benchmark price for an FVREB townhome increased 4.0 per cent compared to December 2021 and increased 37.2 per cent compared to January 2021.

Apartments: At $574,300, the Benchmark price for an FVREB apartment/condo increased 4.6 per cent compared to December 2021 and increased 30.6 per cent compared to January 2021.

🚗 Live Traffic Views in Langley

By Andy Schildhorn • February 20, 2025
The Township of Langley Traffic Cameras for up to date traffic information. Click here

🏡 Fraser Valley’s Market Snapshot January, 2025 📈

By Andy Schildhorn • February 19, 2025
SURREY, BC — Growing inventory and stable prices could lead to opportunities for buyers in the Fraser Valley market this winter despite uncertain economic conditions. Read More

🏡 Langley & Fraser Valley Market Update – What’s Happening in 2025

By Andy Schildhorn • February 18, 2025
Looking for the latest Langley and Fraser Valley real estate market trends? Wondering if now is the right time to buy or sell a home in Langley, Surrey, or Abbotsford? This video breaks down sales trends, home prices, and what to expect this spring. 📉 Sales are down 📈 Inventory is rising 💰 Buyers have more negotiating power But with spring approaching, interest rate cuts expected, and growing inventory, what’s next for Fraser Valley’s housing market? 📊 What’s Covered in This Video? ✅ Langley & Fraser Valley Home Prices: Detached, Townhomes & Condos ✅ Is It a Buyer’s Market? What You Need to Know ✅ Economic Factors Affecting Fraser Valley Real Estate 🏡 Buying or Selling in Langley or Fraser Valley? Let’s Talk! If you’re considering buying or selling a home in Langley, Fraser Valley, or surrounding areas, I can help you navigate the current market trends, pricing strategies, and investment opportunities. 📊 Full FVREB Market Stats → bit.ly/FVREB-Stats 📅 Book a Call → https://calendly.com/andyschildhorn 📞 778.835.8957 📧 [email protected] 🌐 www.AndytheRealtor.com 📺 Subscribe for Weekly Langley & Fraser Valley Real Estate Updates! 🔔 Like, Subscribe & Ring the Bell for More Market Insights! Thanks for watching—see you in the next video! 👋
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