Fraser Valley Has Record Home Sales

For the sixth consecutive month, the Fraser Valley, BC, real estate market experienced property sales at levels never seen before in the 100-year history of the Fraser Valley Real Estate Board (FVREB). In February, the FVREB processed a total of 2,815 sales, an increase of 108 per cent compared to February 2020 and 64 per cent more than were processed in January 2021. To provide a historical perspective, sales in February were 88 per cent above the 10-year average for that month and 18 per cent higher than the previous record of 2,387 sales in February 2016. There were 3,265 new listings in February, an increase of 28 per cent compared to February of last year, placing it second highest for February for new listings in the last decade. The total active inventory for February was 4,120, down 28 per cent from last year’s 5,741 active listings, and the lowest ever for the month. The average number of days to sell a single-family detached home and a townhome in the region was 21 days. Apartments took on average 35 days to sell.