Fraser Valley Market Update – October 2020

According to the Fraser Valley Real Estate Board report (FVREB), there were a total of 4445 listings and home sales in the area totaled 1755 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 $727,517. This shows a 6.6% change over a yearly period and a 0.6% increase compared to the previous month.

Surrey Market Stats – October 2020

In October there were 859 sales out of a total 2154 residential properties listed in Surrey. The sales-to-active listings ratio is 40.3% for detached homes, 49.5% for townhomes, and 30.6% for condominiums bringing the average residential property to 39.9% determining a Seller’s Market for the month.

Breaking it down to the property types, the HPI Benchmark Price for a detached home is $1,063,134, a 1.3% increase from the previous month and a 8.5% increase from the same time last year.

For townhomes, the HPI Benchmark price rose 5.5% compared to the year before, reaching a benchmark price of $584,367

The HPI Benchmark price of a condominium sits at $438,767; a -0.3% decrease compared to last month and a 4.4% increase from the same time last year.

Delta North Market Stats – October 2020

In October there were 85 sales out of a total 212 residential properties listed in Delta North. The sales-to-active listings ratio is 41.1% for detached homes, 46.7% for townhomes, and 30.6% for condominiums bringing the average residential property to 40.1% determining a Seller’s Market for the month.

Breaking it down to the property types, the HPI Benchmark Price for a detached home is $972,500, a 2.7% increase from the previous month and a 9.7% increase from the same time last year.

For townhomes, the HPI Benchmark price rose 6% compared to the year before, reaching a benchmark price of $580,800

The HPI Benchmark price of a condominium sits at $382,500; a -2.9% decrease compared to last month and a 2.8% increase from the same time last year.

White Rock Market Stats – October 2020

In October there were 310 sales out of a total 1108 residential properties listed in White Rock. The sales-to-active listings ratio is 25.4% for detached homes, 47.9% for townhomes, and 21.5% for condominiums bringing the average residential property to 28% determining a Seller’s Market for the month.

Breaking it down to the property types, the HPI Benchmark Price for a detached home is $1,443,500, a 2% increase from the previous month and a 9.5% increase from the same time last year.

For townhomes, the HPI Benchmark price rose 4.4% compared to the year before, reaching a benchmark price of $678,300

The HPI Benchmark price of a condominium sits at $493,900; a 1.4% increase compared to last month and a 4% increase from the same time last year.

Langley Market Stats – October 2020

In October there were 145 sales out of a total 269 residential properties listed in Langley. The sales-to-active listings ratio is 70.6% for detached homes, 61.7% for townhomes, and 30.9% 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 $1,090,800, a 1.2% increase from the previous month and a 10.9% increase from the same time last year.

For townhomes, the HPI Benchmark price rose 4.4% compared to the year before, reaching a benchmark price of $576,400

The HPI Benchmark price of a condominium sits at $397,500; a -1.6% decrease compared to last month and a 5.2% increase from the same time last year.

Mission Market Stats – October 2020

In October there were 83 sales out of a total 147 residential properties listed in Mission. The sales-to-active listings ratio is 54.5% for detached homes, 100% for townhomes, and 31.6% for condominiums bringing the average residential property to 56.5% determining a Seller’s Market for the month.

Breaking it down to the property types, the HPI Benchmark Price for a detached home is $726,000, a 2% increase from the previous month and a 13.5% increase from the same time last year.

For townhomes, the HPI Benchmark price rose 5.3% compared to the year before, reaching a benchmark price of $470,700

The HPI Benchmark price of a condominium sits at $353,300; a 0.4% increase compared to last month and a 3.9% increase from the same time last year.

Abbotsford Market Stats – October 2020

In October 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.

Share:

Share on facebook
Facebook
Share on twitter
Twitter
Share on pinterest
Pinterest
Share on linkedin
LinkedIn

Subscribe To Our Newsletter

No spam, just the latest real estate news, market updates and upcoming projects by Tien Sher 

Follow Us

Recent News

The latest real estate news,

market updates and upcoming

projects by Tien Sher

Subscribe to our Newsletter

FEATURED PROJECTS

Chatham 3755

Learn More

Wembley Crossing

Learn More

Maverick

Learn More

Fraser Valley Market Update – October 2020 IS COMING SOON

Sign up here to get the latest information on Fraser Valley Market Update – October 2020 along with other upcoming developments as well as real estate news and market updates