Abbotsford, Mission, Surrey and Fraser Valley Real Estate Market Statistics – September 2021

According to the Fraser Valley Real Estate Board demand for Fraser Valley real estate remained robust in September. While overall sales decreased compared to August, total sales reached the second‐highest levels for the month of September in the 100‐year history of the Board.

The Board processed a total of 1,866 property sales on its Multiple Listing Service® (MLS®) in September, a decrease of 10.6 per cent compared to August and a 16.4 per cent decrease compared to the same month last year.

Larry Anderson, President of the Board, said, “While we’ve seen a solid increase in new listings compared to August, market conditions continue to be challenging for buyers. Considering the demand across the region, the increase is simply not enough to bolster the inventory required to create greater balance in the market.

According to the Board release in September, the Board received 2,342 new listings, a decrease of 33.4 per cent compared to last year, and an increase of 11.2 per cent compared to August 2021. The month ended with a total active inventory of 3,812, which is a 6.5 per cent decrease compared to August, and a 48.3 percent decrease compared to September 2020.

Baldev Gill, Chief Executive Officer of the Board, added, “The pandemic continues to have an impact on current conditions and while the market remains steady, we are sensitive to ongoing health and safety concerns. Our members follow stringent protocols as mandated by the Public Health Officer, and we will continue to lead by example for the benefit of our members and their clients.”

Across Fraser Valley, in September, the average number of days to sell a single‐family detached home was 26 and a townhome was 19 days. Apartments took, on average, 26 days to sell.

Find all the infographics related to the September Market Statistics by visiting the Facebook Album.

Abbotsford

Cloverdale

Langley

Mission

North Delta

North Surrey

Surrey Central

White Rock / South Surrey

Looking for more information about the real estate market in specific neighbourhoods in Surrey, Langley and Fraser Valley

Macdonald Realty has offices in North Delta, White Rock/South Surrey, and Langley.  Please email macrealty@macrealty.com or call 1-877-278-3888 to be matched with a REALTOR® working in your area.

MLS® Home Price Index (HPI) Benchmark Price

Average and median home prices are often misinterpreted, are affected by change in the mix of homes sold, and can swing dramatically from month to month (based on the types and prices of properties that sold in a given month). The MLS® HPI overcomes these shortcomings and uses the concept of a benchmark home, a notional home with common attributes of typical homes in a defined area. Visit www.housepriceindex.ca for more information.

This blog post is based on market data provided by the Fraser Valley Real Estate Board (FVREB) www.fvreb.bc.ca

Recent News

Lyndan Properties

Lyndan Properties is a real estate development and investment firm dedicated to creating properties that meet the highest standards of quality, design, and sustainability. Having served the Greater Vancouver area since 2013, Lyndan has experience with every aspect of the development process from property selection, design development, construction, and marketing.

Macdonald Platinum Marketing

The Macdonald Platinum Marketing team offers a range of project marketing services including real estate project marketing, sales strategy development, and market research, to help clients effectively promote and sell their properties.

Macdonald Property Management

Macdonald Property Management provide residential and commercial property management and currently manages over $6 billion in BC properties with offices in Vancouver, the Fraser Valley and Victoria.

Macdonald Commercial

Macdonald Commercial provides creative real estate solutions in the area of commercial sales and commercial leasing including: apartments, land, retail, office, industrial, shopping centres and other investments.  Macdonald Commercial has over 40 dedicated commercial brokers with a head office in Vancouver, and offices in the Fraser Valley and Victoria.  They are a proud member of CORFAC International, the premier network for independently owned commercial real estate firms.

Macdonald Realty

Carefully curated over the past 80 years, Macdonald Realty offers unparalleled industry expertise in every facet of real estate. From luxury, residential, commercial, project marketing, development and property management we have established a reputation built on knowledge and trust. Operating over 20 offices and 1,100+ agents, brokers and property managers in B.C., we are your best next move.