Fraser Valley Has Record Home Sales

In a month that is usually one of the quietest in real estate, the Fraser Valley market in British Columbia continued at a breakneck pace, producing the strongest January sales on record as well as a modest uptick in new listings, says the Fraser Valley Real Estate Board (FVREB). There were a total of 1,718 sales of all property types in January, an increase of 76 per cent compared to January 2020 and 18 per cent fewer then were processed in December. Sales in January set a record high for the month; 72 per cent above the 10-year average, and 28 per cent higher than the previous record of 1,338 sales set in January 2016. The FVREB received 2,784 new listings in January, an increase of 26 per cent compared to January of last year. Total active inventory for the month was 4,210, down 18 per cent from last year’s 5,143 active listings, and still 30 per cent below the 10-year average.