Fraser Valley Market Update – November 2020

According to the Fraser Valley Real Estate Board report (FVREB), there were a total of 3850 listings and home sales in the area totaled 1695 showing a Seller’s Market within the Fraser Valley.

For all residential properties in Fraser Valley the average Multiple Listing Service® (MLS®) Home Price Index (HPI) benchmark price is $731,517. This shows a 7.9% change over a yearly period and a 0.8% increase compared to the previous month.

Surrey Market Stats – Novermber 2020

In November there were 842 sales out of a total 1753 residential properties listed in Surrey. The sales-to-active listings ratio is 59.4% for detached homes, 56.4% for townhomes, and 27.3% for condominiums bringing the average residential property to 48% determining a Seller’s Market for the month.

Breaking it down to the property types, the HPI Benchmark Price for a detached home is $1,081,433, a 1.7% increase from the previous month and a 10.5% increase from the same time last year.

For townhomes, the HPI Benchmark price rose 5.4% compared to the year before, reaching a benchmark price of $583,567

The HPI Benchmark price of a condominium sits at $437,500; a -0.3% decrease compared to last month and a 4.3% increase from the same time last year.

Delta North Market Stats – Novermber 2020

In November there were 78 sales out of a total 184 residential properties listed in Delta North. The sales-to-active listings ratio is 60.3% for detached homes, 21.4% for townhomes, and 5% for condominiums bringing the average residential property to 42.4% determining a Seller’s Market for the month.

Breaking it down to the property types, the HPI Benchmark Price for a detached home is $983,800, a 1.2% increase from the previous month and a 10.5% increase from the same time last year.

For townhomes, the HPI Benchmark price rose 9.6% compared to the year before, reaching a benchmark price of $581800

The HPI Benchmark price of a condominium sits at $381,200; a -0.3% decrease compared to last month and a 3.3% increase from the same time last year.

White Rock Market Stats – Novermber 2020

In November there were 287 sales out of a total 943 residential properties listed in White Rock. The sales-to-active listings ratio is 30.2% for detached homes, 50.3% for townhomes, and 21.6% for condominiums bringing the average residential property to 30.4% determining a Seller’s Market for the month.

Breaking it down to the property types, the HPI Benchmark Price for a detached home is $1,447,700, a 0.3% increase from the previous month and a 10.4% increase from the same time last year.

For townhomes, the HPI Benchmark price rose 6.8% compared to the year before, reaching a benchmark price of $674,800

The HPI Benchmark price of a condominium sits at $507,200; a 2.7% increase compared to last month and a 7.7% increase from the same time last year.

Langley Market Stats – Novermber 2020

In November there were 145 sales out of a total 269 residential properties listed in Langley. The sales-to-active listings ratio is 85.6% for detached homes, 65.1% for townhomes, and 36.7% for condominiums bringing the average residential property to 53.9% determining a Seller’s Market for the month.

Breaking it down to the property types, the HPI Benchmark Price for a detached home is $1,115,200, a 2.2% increase from the previous month and a 12.6% increase from the same time last year.

For townhomes, the HPI Benchmark price rose 5% compared to the year before, reaching a benchmark price of $579,200

The HPI Benchmark price of a condominium sits at $398,000; a 0.1% increase compared to last month and a 5.2% increase from the same time last year.

Mission Market Stats – Novermber 2020

In November there were 63 sales out of a total 118 residential properties listed in Mission. The sales-to-active listings ratio is 57.8% for detached homes, 46.2% for townhomes, and 33.3% for condominiums bringing the average residential property to 53.4% determining a Seller’s Market for the month.

Breaking it down to the property types, the HPI Benchmark Price for a detached home is $739,000, a 1.8% increase from the previous month and a 15.6% increase from the same time last year.

For townhomes, the HPI Benchmark price rose 6.5% compared to the year before, reaching a benchmark price of $476,800

The HPI Benchmark price of a condominium sits at $361,200; a 2.2% increase compared to last month and a 7.8% increase from the same time last year.

Abbotsford Market Stats – Novermber 2020

In November there were 358 sales out of a total 767 residential properties listed in Abbotsford. The sales-to-active listings ratio is 52.3% for detached homes, 55.1% for townhomes, and 34.6% for condominiums bringing the average residential property to 46.7% determining a Seller’s Market for the month.

Breaking it down to the property types, the HPI Benchmark Price for a detached home is $873,600, a 0.6% increase from the previous month and a 11% increase from the same time last year.

For townhomes, the HPI Benchmark price rose 4.5% compared to the year before, reaching a benchmark price of $476,300

The HPI Benchmark price of a condominium sits at $323,400; a -0.3% decrease compared to last month and a 4.8% increase from the same time last year.

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