SURREY – Robust active listings and relative steady sales activity continued to bring balance to the Fraser Valley real estate market in August. The past several months of rising inventory combined with a slowing trend in sales has also seen benchmark prices return to levels not seen since last year.
The Board received 2,045 new listings in August, a decrease of 14.3 per cent compared to July, and only 2.9 per cent less than August 2021. The month ended with a total active inventory of 5,871, a decrease of 8.5 per cent from last month but up by 44 percent compared to August 2021. Once again August saw a balanced market in the Fraser Valley with an overall sales-to-active ratio of 17 per cent .
Benchmark prices continued to fall across all property categories, bringing them in relative line with prices from December 2021 and eating into year-over year gains.
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