Fraser Valley Market Statistics For December 2021

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Fraser Valley real estate market sees busiest year in 100-year history

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SURREY, BC – Fueled by the consumer response to the COVID‐19 pandemic along with historically low-interest rates, total property sales in the Fraser Valley in 2021 shattered the previous annual record last set in 2016.

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The FVREB processed 27,692 sales its Multiple Listing Service® (MLS®) in 2021, an increase of 39.0 per cent compared 19,926 sales in 2020; and 15.5 per cent higher than 2016’s 23,974 sales.

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Larry Anderson, President of the Board, said, “No one could have predicted how the pandemic would impact the real estate market. Our region’s relative affordability, combined with a newfound ability to work from home and the value for housing dollar in the Fraser Valley attracted buyers in numbers like we’ve never seen.

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“Whether helping sellers list or helping buyers complete a sale, our Board averaged over 5,200 transactions every month. And even though our volume of new listings was also high, it just couldn’t keep up with the demand.“

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Year-over-year, sales of detached homes soared by 31.8 per cent in 2021 compared to 2020; townhome sales increased by 33.7 per cent and sales of apartments increased by 68.9 per cent. Anderson added, “With the rapid escalation of prices in 2021, many buyers made decisions based on economic factors, resulting in an explosion of condo sales in our region.“

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In 2021, the FVREB received 35,629 new listings – the second-highest on record (second only to 2008 at 35,651); and 12.4 percent more than in 2020.

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Baldev Gill, Chief Executive Officer of the Board, said, “Fraser Valley REALTORS® played an instrumental role in helping people navigate their real estate buying and selling needs, through uncharted territory. It’s the professionalism and expertise of our members who have done a remarkable job serving the interests and needs of buyers and sellers throughout a most challenging and unusual year.“

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In the month of December, the Board’s MLS® processed 1,808 sales, second only to December 2020’s record-setting 2,086 sales. New listings in December were 1,278. By month’s end, active inventory finished at 1,957 units, 60 per cent below the 10-year average, and the lowest in 41 years.

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MLS® HPI Benchmark Price Activity

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  • Single Family Detached:

At $1,500,000, the Benchmark price for an FVREB single-family detached home increased 3.6 percent compared to November 2021 and increased 39.0 percent compared to December 2020.

  • Townhomes

At $765,800, the Benchmark price for an FVREB townhome increased 3.5 percent compared to November 2021 and increased 32.9 percent compared to December 2020.

  • Apartments:

At $549,200, the Benchmark price for an FVREB apartment/condo increased 3.5 percent compared to November 2021 and increased 25.3 percent compared to December 2020.

[/vc_column_text][/vc_column][/vc_row][vc_row][vc_column][vc_single_image image=”3778″ img_size=”large” add_caption=”yes” alignment=”center” onclick=”img_link_large” img_link_target=”_blank”][/vc_column][vc_column][dt_default_button link=”url:http%3A%2F%2Ffvreb.bc.ca%2Fstatistics%2FPackage202112.pdf|title:Fraser%20Valley%20Market%20Stats%20for%20October%202021|target:_blank” size=”custom” button_alignment=”btn_center” font_size=”16px” button_padding=”10px 100px 10px 100px” border_radius=”3px” btn_decoration=”btn_3d” default_btn_border_color=”#000000″ default_btn_bg_color=”#627364″ bg_hover_color=”#3e362c”]Source: Latest Statistics Package[/dt_default_button][/vc_column][/vc_row][vc_row][vc_column][dt_gap height=”50″][vc_separator color=”custom” style=”shadow” border_width=”3″ accent_color=”#627364″][vc_row_inner][vc_column_inner width=”1/4″][mvc_team_profile member_visibility=”outset” image_id=”1739″ memb_name=”Liz Penner” memb_prof=”Realtor”][/vc_column_inner][vc_column_inner width=”3/4″][vc_column_text]

About Liz Penner | Your Best Langley Real Estate Agent

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Liz Penner is a top-selling licensed real estate salesperson with the Fraser Valley Real Estate Board and has been a top-selling realtor specializing in the residential resale of condos, townhomes, and houses for over a decade. Liz assists residents of the Langley and Surrey areas to sell real estate while looking out for the client’s best interests. Liz also helps first-time homebuyers, families, and repeat purchasers with their property search process, ensuring that her clients get access to the very best homes on the market while receiving excellent service ensuring that they find the perfect place to call home.

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Liz holds a BBA in leadership and has completed a variety of specific training through the Fraser Valley Real Estate Board in the areas of selling strata properties, foreclosures, estate sales, and new construction properties. Liz is also well versed in POAs, the Strata Property Act, and more.

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If you are looking for a knowledgeable and professional real estate agent that is willing to do everything possible to ensure that you get top dollar for the sale of your home or to find the dream home you are looking for in the Surrey and Langley, BC areas then get in contact today.

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Why list your home for sale with Liz Penner

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  • I’ve helped my clients sell over 400 condos, townhomes, and houses throughout the Langley and Cloverdale area, and I’d love the opportunity to do the same for you.
  • I’ve experienced straightforward sales and sales that have gone off the rails, back on the rails, off the rails, and then back on again. That’s just the way the real estate train rolls, and it never rattles me.
  • I’ve got a solid toolkit to pull from when a problem arises. I take my job seriously each time, and I will make sure you get top dollar for your  Fraser Valley, Langley, or Cloverdale home, smooth sailing, or otherwise.
  • If you’re looking for a realtor that you can count on in the Langley and Surrey area.
  • I’m your Agent!
  • If you want top dollar for your home
  • I can do that!
  • Do you want to save money on your next home purchase?
  • I can do that too!

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What you can expect when working with Liz Penner

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  • Fast, Reliable, and Quality service
  • Frequent Communication – from somebody who is available to serve you in the key moments that matter.
  • Expert Advice – from a well-trained and well trained and experienced agent with almost 2 decades of experience as a top-selling real estate agent.

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