JANUARY 2022 MARKET STATS

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

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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.

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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.

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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.

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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.

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“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.”

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Baldev Gill, Chief Executive Officer of the Board, said, “For almost two years, Fraser Valley REALTORS® have worked hard to help their clients navigate safely during the longest, most intense seller’s market in our Board’s history. This protracted pandemic market has resulted in considerable upward pressure on home prices.

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“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.”

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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.

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MLS® HPI Benchmark Price Activity

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  • 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.

[/vc_column_text][/vc_column][/vc_row][vc_row][vc_column][vc_single_image image=”4074″ 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%2FPackage202201.pdf|title:Fraser%20Valley%20Market%20Stats%20for%20January%202022|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.

[/vc_column_text][vc_separator color=”custom” style=”shadow” border_width=”3″ accent_color=”#627364″][/vc_column_inner][/vc_row_inner][/vc_column][/vc_row][vc_row][vc_column][vc_column_text]Published on February 2, 2022[/vc_column_text][/vc_column][/vc_row]

Caldwell Banker Marquise Realty
3088 Croydon Drive
Surrey BC V3Z 0T1

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