Fraser Valley Market Statistics for October 2021 - Liz Penner

Fraser Valley Market Statistics For October 2021- Liz Penner | Your Langley and Surrey REALTOR®

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MLS® sales in the Fraser Valley remained strong in October while supply continued to diminish

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SURREY, BC – Demand for Fraser Valley real estate remained solid in October with overall sales the third highest on record.

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The Board processed a total of 1,938 property sales on its Multiple Listing Service® (MLS®) in October, an increase of 3.9 percent compared to September and a decrease of 18.2 percent compared to the same month last year.

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Larry Anderson, President of the Board, said, “What we’re seeing is a combination of above‐average sales with below‐average new listings which is placing strong upward pressure on home prices, for all residential categories, month‐over‐month.

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“It is a very challenging time, particularly for buyers. I empathize with clients who have been trying to buy a home for more than a year without success after multiple attempts. Now, more than ever is the time when buyers and sellers alike must rely on their REALTOR® to guide and advise them in considering all available options, including a change in community or even property type.”

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After rebounding slightly in September, new listings decreased in October. The Board received 2,188 new listings, a decrease of 29.0 per cent compared to last year, and a decrease of 6.6 per cent compared to September 2021. The month ended with a total active inventory of 3,447, which is a 9.6 per cent decrease compared to September, and a 49.8 percent decrease compared to October 2020.

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Baldev Gill, Chief Executive Officer of the Board, said, “Fraser Valley is a top destination currently in BC for buyers looking for relatively affordable family‐sized homes. Townhomes and single‐family homes are selling on average within two to four weeks in our region, with buyers keenly watching the market for new listings.”

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Across the Fraser Valley, in October, the average number of days to sell a single‐family detached home was 28 and a townhome was 18 days. Apartments took, on average, 27 days to sell.

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MLS® HPI Benchmark Price Activity

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Single Family Detached:

At $1,396,700, the Benchmark price for an FVREB single‐family detached home increased 2.5 per cent compared to September 2021 and increased 33.4 per cent compared to October 2020.

Townhomes

At $720,500 the Benchmark price for an FVREB townhome increased 1.9 per cent compared to September 2021 and increased 26.6 per cent compared to October 2020.

Apartments:

At $514,200 the Benchmark price for an FVREB apartment/condo increased 1.9 per cent compared to September 2021 and increased 18.3 per cent compared to October 2020.

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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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