April, 2019 The Fraser Valley Real Estate Board reported a total of 805 sales this past May, a 17 per cent increase over April. February, 2020 If interest rates remain low and people adjust to the new normal surrounding COVID-19, it may be easier for first-time homebuyers to enter the market, however, this is not a guarantee. The BCREA sees better prospects for the housing market across the province in 2021, predicting a 45.3 percent increase in home sales or 88,500 units. First-time and foreign buyers are expected to drive demand in 2020, especially as millennials amass more spending power. FRASER VALLEY NEWS. Recover your password. During the month, 978 multi-family units entered the market across 17 project launches, making September the busiest month for pre-sale activity since March. You will also find handy links to important amenities and community information. If the market currently has you scratching your head, you’re not alone. Not even the pandemic can hold back the Vancouver housing market.. “While we’ve seen a significant shift in buyer preferences this year, we believe factors such as the supply issue, pent-up demand and historically lower interest rates will continue to fuel activity in 2021.”. CANADA MORTGAGE AND HOUSING CORPORATION Key trends influencing the market: • Relatively low mortgage interest rates • Low Canadian dollar • Strong labour market gains FREE Market Analysis; Fraser Valley Housing - Seasonal Rentals "We Rent the Best in Fraser Valley" 70950 US-40 Winter Park, CO 80482 Phone: (970) 531-3495 (call for a quote) Email: brent@resortsofgrandcounty.com. Chris Shields, President of the Board, observes, “We’re cautiously optimistic. Scotiabank Canadian Housing Report. The most notable factor contributing to the housing market recovery are the ultra-low borrowing costs. Healthy price increases are expected, with an estimated 3.7-per-cent increase in the average national residential sales price. Take the time to learn about pricing, inventory and other market information in your desired community. October, 2019 Learn more about RE/MAX real estate franchise opportunities in Ontario-Atlantic Region and Western Canada. Forgot your password? Click to read the full RE/MAX 2020 Housing Market Outlook Report. We've made real estate data like average house prices, housing inventory, and days on market easily accessible to you. May, 2019 For the most up‐to‐date data, see current reports. The average home price in B.C. Vancouver Housing Market Update, BC Housing Forecast, News & Articles November 18, 2020 How Likelihood The Greater Vancouver Housing Market Going To Crash in 2021? March, 2020 OCTOBER, 2018 Many economists have predicted a housing crash in 2020 as we experienced the … About. Smart investors will start looking down the 2021 road at the next big thing, which will likely be 5G stocks.. Fraser Valley Real Estate Board. From a national perspective, RE/MAX anticipates a leveling out of the highs and lows that characterized the Canadian housing market in 2019, particularly in Vancouver and Toronto, as we move into 2020. Get instant access to a lot of relevant information about Fraser Valley, Lower Mainland - Southwest, BC real estate, including property descriptions, virtual tours, maps and photos. November, 2019 UDI Fraser Valley Forecast Lunch Richard Sam, Market Analyst June 16, 2016. In a still changing market, Muir’s forecast is slightly more optimistic than the Canada Mortgage and Housing Association forecast released earlier this week. RE/MAX Canada anticipates healthy housing price growth at the national level, with move-up and move-over buyers continuing to drive activity in many regions across the Canadian housing market. The search results pages also have a wealth of … Estimates and forecasts are based on the opinion of independent RE/MAX broker/owners and affiliates. The US housing market has its detractors, with a few certain that a housing market crash is imminent. Housing Forecast ECONOMICS Fourth Quarter – November 2020 1 The COVID-19 pandemic and associated recession have impacted housing markets in unexpected and unpredictable ways. According to the Board, by the end of June, the Fraser Valley real estate market saw a resurgence in activity in June as the industry and consumers continue to successfully adapt to doing business during a pandemic. new housing approvals are around 40% lower than their late-2017 highs. Copyright © 2020 RE/MAX Ontario-Atlantic Canada Inc. All rights reserved. There has been some hesitation from move-up buyers looking to enter the market in 2020. Zolo's real estate market trends gives you an up-to-date look at the Langley housing market. Talk to your Realtor about receiving specialized market analysis for the Fraser Valley, and how you can best utilize real estate data when buying or selling your property. Fraser Valley's population will increase by 37% as of 2041. Multiple Listing Service® (MLS®) residential sales in the province are forecast to decline 9 per cent to 94,200 … Here’s the regional break-down: “Despite the tragic impacts of the pandemic, our optimism in the strength of Canada’s housing market has always remained,” says Elton Ash, Regional Executive Vice President, RE/MAX of Western Canada. Posted on Dec 04, 2020. Fraser Valley’s top selling neighbourhoods in 2020 were City Centre (Surrey) and Chilliwack, as well as Abbotsford. An ongoing and widespread housing supply shortage is likely to continue, presenting challenges for homebuyers and putting upward pressure on prices. Effective March 2020, the MLS® HPI benchmark price for FVREB townhome properties and FVREB/Lower Mainland composites (All Property Types combined) in affected areas was revised back to January 2005 to reflect new historical benchmark models. Chris Shields Fraser Valley Real Board FVREB home sales housing housing market Lower Mainland real estate Realtors Realtor.ca MLS Related Links For more information, click here. Wednesday, December 23, 2020 Home; Home Sellers. Many favourable factors will inevitably help the housing market in Fraser Valley and elsewhere. “After a strong 2016, what is next for the housing market in 2017?" With no sign yet of it letting up, here’s Board President, Chris Shields, with [...]. Log into your account. May, 2020 The Fraser Valley housing market was so heated that the month of … The housing market South of the Fraser has exploded in the last five years and there is no one better to detail the past, present, and future of the Fraser Valley market than Fifth Avenue Real Estate Marketing President & CEO, Scott Brown. your username. SEPTEMBER, 2018 FRASER VALLEY STATISTICS Whether you’re looking to buy or sell real estate, preparation is key. CANADA MORTGAGE AND HOUSING CORPORATION Today’s Talk • Resale Update • New Construction • Rental Market 2. Enjoy the videos and music you love, upload original content, and share it all with friends, family, and the world on YouTube. “The situation created by the introduction of the mortgage stress test this year, as well as continually increasing interest rates, means more Canadians will be priced out of the market. Baldev Gill, CEO of the Board, said “The highly competitive market with multiple offers and shorter days on market for various properties, provides further indication of the role of REALTORS® are playing in this market.” Talk to a Fraser Valley … The average home price in B.C. Central 1's B.C. May sales for Fraser Valley Housing Market Positive signs in the Fraser Valley housing market. August, 2020 READ MORE: Metro Vancouver home prices slide again, April sales 43% below 10-year average The Fraser Valley condo market has seen a falling demand for condominiums because of COVID-19, which is expected to continue into 2021. The trademarks MLS®, Multiple Listing Service® and the associated logos are owned by The Canadian Real Estate Association (CREA) and identify the quality of services provided by real estate professionals who are members of CREA. December, 2019, JANUARY, 2018 Join Christina Butchart as she shares her analysis and forecasts for the economy and the Fraser Valley Housing Market. In its recent housing outlook for B.C., the federal housing agency forecast that the composite average home price in the Vanc… In the coming six months developers with high rise projects are expected to add over 2,500 units to the fraser valley housing market. This market report was designed to give you new insights on both the Langley real estate market and the Greater Vancouver area so that you … Yet housing supply is dwindling fast, aggravated by slower construction due to the pandemic. The Fraser Valley housing market is currently witnessing a buyers market due to the substantially higher inventory compared to the previous year and more buyers qualifying for the stress test as they become more adjusted to it. CIBC Housing Market Analysis. Canadian Real Estate Association Quarterly Forecast. Reuters Housing Forecast Poll. Vancouver Housing Market Update, BC Housing Forecast, News & Articles November 18, 2020 How Likelihood The Greater Vancouver Housing Market Going To Crash in 2021? AUGUST, 2018 DECEMBER, 2018, If the market currently has you scratching your head, you’re not alone. We analyze housing markets and the economic trends that shape them for the 11 real estate boards and 23,000 commercial and residential REALTORS ® across British Columbia. Check out the housing market snapshot for August 2020. Luxury Market; Demographics. You helped to raise $15,000 for people in need. Baldev Gill, CEO of the Board, said “The highly competitive market with multiple offers and shorter days on market for various properties, provides further indication of the role of REALTORS® are playing in this market.” Talk to a Fraser Valley … Quarterly Forecasts; National Price Map; CREA > Housing Market Stats > Fraser Valley Real Estate Board. real estate: average home price forecast by end of 2020 to rise nearly 10 percent over 2019 So what’s REALLY happening for home buyers with the Market in December, 2020? CREA compiles and analyzes numerous factors affecting the real estate market for the public, REALTORS® and governments. Move-up buyers are currently driving demand in the Fraser Valley real estate market, due to an uptick in the number of people coming from Vancouver. June, 2020 Fraser Valley real estate is expected to continue as a seller’s market in 2021. your email. ABOUT CREA STATS. Watch out for the Surrey City Center neighbourhood, whose development is expected to drive more buyers to the area. Fraser Valley to experience buyers market in 2020, prices to increase 2%. The housing market and stock market reacted alike. Overall property sales for the month of November again set a new Board [...], For the fourth consecutive month, our Board experienced record-breaking sales and near record-breaking new listings on our Multiple Listing Service®. contribute to a strong Fraser Valley housing market in 2017. Housing Market Forecast 2021. Housing Forecast ECONOMICS Fourth Quarter – November 2020 1 The COVID-19 pandemic and associated recession have impacted housing markets in unexpected and unpredictable ways. This way, you get to see the Langley housing market on a wider scale, and how it measures against other cities in the metro area. Here you will find listings of homes in foreclosure as well as pertinent information on the real estate market. The region’s population growth is expected to have the biggest impact on the market, especially due to more Vancouverites moving to the region as they are being priced out of the market. Historical Stats Packages reflect indices and benchmark price data at that point in time. Housing Market Outlook - Vancouver CMA - ate Released ... upwards more quickly than forecast, resale market activity would be expected to trend towards the lower end of the forecast range. Multiple Listing Service ® (MLS ®) residential sales in the province are forecast to rise 16.9 per cent to 90,450 units this year, after recording 77,350 residential sales in 2019.MLS ® residential sales are forecast to increase 9.7 per cent to 99,240 units in 2021. CANADA MORTGAGE AND HOUSING CORPORATION 3 Sales Up in All Major Centres in the Valley Surrey 2,412 ( 77%) Langley 958 ( 42%) Mission 269( 74 %) Abbotsford 976 ( 106%) Chilliwack 955 ( 73%) … Looking back to last year’s round-up of B.C. 's housing market is on the way back up, according to a report from economists at an agency that supports credit unions across Canada. your password . “Pandemic economics are proving to be very unusual. Fraser Valley housing market slows down in 2018 January 4, 2019 SURREY, BC – After three consecutive years of total annual sales surpassing 20,000 units, 2018 saw the Fraser Valley real estate market return to more typical levels for both sales and inventory. Get all the latest news and market updates here – Fraser Valley housing market statistics and BC real estate market updates. Vancouver/Fraser Valley – The British Columbia Real Estate Association (BCREA) released its 2018 Second Quarter Housing Forecast on Friday.. The trademarks REALTOR®, REALTORS® and the REALTOR® logo are controlled by CREA and identify real estate professionals who are members of CREA. READ MORE: Metro Vancouver home prices slide again, April sales 43% below 10-year average Fraser Valley Housing Market Update Christina Butchart, BC Regional Economist, CMHC June 21, 2017. The stats of course, suggest the opposite, and it’s adding to overwhelming demand for homes. Brittany Reimer Appointed to lead fraser valley operations mla Can… The RE/MAX average sale price expectation for Fraser Valley is +2% due to an expected course correction in the market. All Pricing Selling Myths. CANADA MORTGAGE AND HOUSING CORPORATION Key trends influencing the market: • Relatively low mortgage interest rates • Low Canadian dollar • Strong labour market gains • Population growth. Fraser Valley's population will increase by 37% as of 2041. Fraser Valley’s population in 2041 would make it the fourth largest community in Canada in today’s environment, with a population exceeding that of Calgary, Edmonton or Ottawa. The BCREA Economics team strives to enhance understanding of the factors that influence housing markets. Surrey has become urban, while Chilliwack is seeing first-time homebuyers and people needing more space. We always recommend buyers and sellers watch both the local market and the regional Metro Vancouver Report . Unrelenting demand for Fraser Valley detached and townhomes continued in November. This is confidence building for the markets as we try to exit the China virus pandemic period. Whether you’re looking to buy or sell real estate, preparation is key. HOUSING MARKET INFORMATION HOUSING MARET OTLOOK CANADA MORTGAGE AND HOUSING CORPORATION Date Released: ... and the Fraser Valley Real Estate Board (FVREB). This report's home price data examines sales history between November 20 - December 18 and includes percent changes from the same 28-day period in 2019. June, 2019 This sector is way beyond consumer 5G phones.. With Zolo's real estate market trends, you'll get real-time data on Abbotsford's housing market. APRIL, 2018 Vancouver – The British Columbia Real Estate Association (BCREA) released its 2020 Fourth Quarter Housing Forecast today. Search. Housing markets across the country have stabilized in 2018, after the unprecedented increases in average sales price that many markets experienced in 2017. The BC real estate market is enjoying a robust recovery. The Fraser Valley Real Estate Board (FVREB) says April 2019 was its second slowest April in a decade. By utilizing market data and statistics, with the help of your Realtor, you can identify the best opportunities that are available to you when you make your move. The average selling price in Fraser Valley increased 6.9% to $701,031 in 2020 (Jan. 1 – Oct. 31) compared to $656,067 in 2019 (Jan. 1 – Dec. 31). Since then, most markets have returned above and beyond the last peak. However, a surge of pent-up demand into an undersupplied market has prices at pre-COVID-19 levels well ahead of schedule. Fraser Valley Real Estate Board reports seller’s market for detached homes and townhouses B.C. Fraser Valley Housing - Seasonal Rentals "We Rent the Best in Fraser Valley" 78336 US-40 Winter Park, CO 80482 Phone: (970) 531-3495 (call for a quote) FEBRUARY, 2018 Here is a quick snap. Check out the housing market snapshot for August 2020. Just imagine how clients and consumers [...], SURREY, BC – For the fifth consecutive month, demand for real estate in the Fraser Valley showed no signs of waning. Consequently, housing construction across the country is forecast to remain subdued for the next 18 to 24 months.4 Continued caution by households has also resulted in the outlook for dwelling investment in 2019–20 being softer than at budget. NOVEMBER, 2018 Economics. Long seen as an affordable alternative to Vancouver’s astronomically high prices for homes, the Fraser Valley housing market now seems out of reach for the average buyer as well. real estate: average home price forecast by … Fraser Valley’s new-home construction market is low compared to demand and could use more new-construction builds to meet the current demand. Thank you for visiting today. Metro Vancouver and Fraser Valley’s pre-sale residential market saw some renewed momentum in June, following the severe uncertainty at the peak of COVID-19 earlier in the spring. RE/MAX Housing Market Outlook. March, 2019 The move-up buyer market in Fraser Valley is driven primarily by families. MAY, 2018 Following a state wide market survey and consultation A correction is when home prices fall up to 10%, and beyond 20% or more, the housing market can be considered to have crashed. Development in downtown Surrey, particularly high-rise condos, has not only attracted more buyers but also more companies and educational institutions to the area. July, 2019 November, 2020, January, 2019 The BCREA sees better prospects for the housing market across the province in 2021, predicting a 45.3 percent increase in home sales or 88,500 units. January, 2020 Fraser Valley’s population in 2041 would make it the fourth largest community in Canada in today’s environment, with a population exceeding that of Calgary, Edmonton or Ottawa. Baby Boomers; Gen Z; Generation X; Millennials; Baby Boomers; Gen Z; Generation X; Millennials; Video; Sign in. housing market forecasts, on the whole, the pundits had it not far off.Many predicted that sales in 2019 would rebound after a soft 2018. The RE/MAX Outlook for Fraser Valley real estate in 2021 is an increase of 2% to approximately $715,051.62. Multiple Listing Service ® (MLS ®) residential sales in the province are forecast to rise 16.9 per cent to 90,450 units this year, after recording 77,350 residential sales in 2019.MLS ® residential sales are forecast to increase 9.7 per cent to 99,240 units in 2021. Fraser Valley housing market slows down in 2018 January 4, 2019 SURREY, BC – After three consecutive years of total annual sales surpassing 20,000 units, 2018 saw the Fraser Valley real estate market return to more typical levels for both sales and inventory. RE/MAX isn’t calling this an “exodus,” but the re-location trend across the Canadian housing market is real, and it’s just one focus of the RE/MAX 2021 Housing Market Outlook Report. Vancouver Housing Market Update and Forecast. Vancouver – The British Columbia Real Estate Association (BCREA) released its 2020 Fourth Quarter Housing Forecast today. First-time homebuyers in Fraser Valley are typically young couples looking for condominiums and one-bedroom apartments ranging in price from $400,000 to $500,000. The housing markets of Metro Vancouver and the Fraser Valley saw continued upward momentum in September, according to an update by MLA Advisory. Dark Mode. Charitable Foundation to sell vacant land, VIDEO: Highest November sales in 99 years, Unrelenting demand for Fraser Valley detached and townhomes continued in November, VIDEO: October’s unprecedented real estate market, Written analysis and comments on the market from the Board President, An overview of MLS® activity for Fraser Valley communities, including monthly and yearly comparisons, Graphs and visual information relating to inventory and pricing. CANADA MORTGAGE AND HOUSING … Chilliwack is expected to continue to be the most popular neighbourhood in 2021. August, 2019 By Craig Hennigar Jun 19, 2019. Previous BCREA forecasts anticipated housing prices would return to the pre-COVID-19 baseline in early 2021. Colliers Fraser Valley Housing Growth Forecast Download Report. Single family detached homes remained on market for an average of 32 days before selling. If this is your first visit, take your time and look around. Sub-markets of Metro Vancouver have fewer monthly transactions and this means that a small number of home sales can have an oversized influence on the reported statistics. Born and raised in the lower mainland; Crissy has a wealth of knowledge of the real estate market in the Fraser Valley. I have plenty of information and resources available to you. B.C. September, 2019 A new forecast says the housing market in British Columbia remains uncertain during the COVID-19 pandemic. NOTE: To ensure accuracy, MLS® HPI methodology is adjusted over time. However, with apartment approvals Fraser Valley Housing Market Outlook (Fall 2019), RE/MAX 2020 Housing Market Outlook Report, North Bay Real Estate: A Sizzling, Yet Affordable Market, Check Out These Affordable Real Estate Markets in Ontario. By Craig Hennigar Jun 19, 2019. One of the areas of the province to experience record growth: the Fraser Valley, comprised of Surrey, North Delta, White Rock, Langley, Abbotsford, and Mission. This site is protected by reCAPTCHA and the Google Privacy Policy and Terms of Service apply. Despite what may be the worst recession in BC history, the housing market had a record fall season and prices are rapidly rising as pent-up The The relative affordability of the area compared to Vancouver keeps it a hot real estate market. Canadians are on the move. UDI Fraser Valley Forecast Lunch Richard Sam, Market Analyst June 16, 2016. That’s according to a new housing market outlook by the Canada Mortgage and Housing Corporation (CMHC), which forecasts housing starts, sales … Despite what may be the worst recession in BC history, the housing market had a record fall season and prices are rapidly rising as pent-up demand floods into an under-supplied market. The most popular property type among move-up buyers are single-detached homes. This report's home price data evaluates sales history between November 19 - December 17 and includes percent changes from the same 28-day period in 2019. February, 2019 RBC Home Resale and Price Forecast. CANADA MORTGAGE AND HOUSING CORPORATION Resale market. The Fraser Valley Real Estate Board (FVREB) says April 2019 was its second slowest April in a decade. National Bank of Canada: Special Housing Report. MARCH, 2018 Edmonton Is Now the Country’s Most Affordable Urban Real Estate Market! B.C. September, 2020 Some potential buyers are more hesitant because they are comfortable where they are at but are still moving ahead with a purchase. Colliers Fraser Valley Housing Growth Forecast Download Report. Central 1 Housing Forecast. property sales will have declined 23 per cent by the end of 2018 then edge up in 2019 according to a new BCREA forecast. Sales are up 17% compared to April; but remain significantly below seasonal norms. New-home sale prices are like those of re-sale properties in Fraser Valley. However, there continue to be some outliers in 2018 average sales price gains, particularly in areas outside of the main city centres, such as Chilliwack (+ 13%), Windsor (+13%), London (+17%) and Charlottetown (+11%). Due to these factors, the 2021 RE/MAX 2021 outlook for average residential prices is an estimate of +4% to +6% nation-wide. Residential home sales in greater Vancouver from 2498 properties last year to 3,064 sold in November 2020, a 22.7% growth. Ontario Real Estate: A Look at the Booming Quinte Area Market, Bank of Canada Makes Interest Rate Announcement, 35% of RE/MAX brokers indicate that “move-over” buyers from other cities and provinces will continue to spark market activity in 2021, 45% of RE/MAX brokers indicate that move-up buyers will likely be a primary driver of the housing market demand in 2021, Half of Canadians (53%) are confident that Canada’s housing markets will remain steady in 2021, 52% of Canadians believe real estate will remain one of the best investment options in 2021. Get real estate stats on average house price, housing inventory, and average days on market. The Fraser Valley Real Estate Board publishes a monthly statistics package that includes an overview and breakdown of real estate activity throughout the region. The luxury market in Fraser Valley has been driven primarily by established families, with the typical starting price for a luxury home in Fraser Valley being approximately $1,500,000. Gallery You helped to raise $15,000 for people in need Community. April, 2020 Properties sold between January and March compared with the same period in 2016 LUXURY HOMES CONDO MARKET FIRST-TIME BUYERS * Source: Historical values are sourced from CREA or Local Board statistics. Quarterly forecasts ; national price Map ; CREA > housing market Update Christina Butchart, BC Regional,. Corporation today ’ s adding to overwhelming demand for condominiums in Fraser Valley real estate market most experienced knowledgeable... Young couples looking for larger properties outside of the factors that influence housing in. 22.7 % growth local market and the Fraser Valley is +2 % to. The economy and the Fraser Valley saw continued upward momentum in September, according to an Update by MLA.! We try to exit the China virus pandemic period 10-year average housing market stats Fraser. Many favourable factors will inevitably help the housing market snapshot for August 2020 November 2015! In need community forecasts anticipated housing prices would return to the area to! That point in time the opposite, and days on market for an of! Privacy Policy and Terms of Service apply pandemic and associated recession have impacted markets! Area compared to demand and could use more new-construction builds to meet the current demand experience... Sam, market Analyst June 16, 2016 properties outside of the Board,,..., take your time and look around estimate of +4 % to %. 400,000 to $ 500,000 [... ] information and resources available to you the Surrey City Center neighbourhood, development. The markets as we try to exit the China virus pandemic period pre-COVID-19 in. Wednesday, December 23, 2020 Fraser Valley real estate market prices at pre-COVID-19 levels well of... Construction • Rental market 2 of COVID-19, which will likely be 5G stocks Chilliwack is to... Expected to drive demand in 2020, prices to increase 2 % to +6 %.... Stats > Fraser Valley housing market Outlook Report well as Abbotsford Canada MORTGAGE and housing CORPORATION today s... Remain significantly below seasonal norms try to exit the China virus pandemic period quarterly forecasts ; national price ;... And housing … new housing approvals are around 40 % lower than their late-2017 highs has some. Factor contributing to the pre-COVID-19 baseline in early 2021 likely be 5G stocks reports. Board publishes a monthly statistics package that includes an overview and breakdown of real estate Association ( BCREA released... And it ’ s market for detached homes remained on market luxury properties are blended families or families made of... … B.C easily accessible to you Fraser Valley real estate Board ( FVREB says... Out the housing market snapshot for August 2020 most popular property type among move-up buyers coming from as! Letting up, here ’ s Board President, chris Shields, President of the area compared to ;... Adjusted over time BCREA ) released fraser valley housing market forecast 2020 Fourth Quarter housing Forecast today learn pricing! About RE/MAX real estate activity throughout the region Valley are typically young looking. Is protected by reCAPTCHA and the Fraser Valley real estate Board reports ’. The Board, observes, “ we ’ re not alone – Fraser Valley real estate market updates BCREA released! Seasonal norms to drive demand in 2020 fraser valley housing market forecast especially as millennials amass spending! Realtor® logo are controlled by CREA and identify real estate Board publishes a monthly package! Get all the latest news and market updates the area ) says 2019., suggest the opposite, and young couples as we try to exit the China virus pandemic period –... Positive signs in the Fraser Valley housing market Forecast 2021 and the Regional Metro Vancouver the... 17 % compared to Vancouver keeps it a hot real estate Board reported a of. November since 2015 a purchase statistics Whether you ’ re looking to buy or sell estate. Opposite fraser valley housing market forecast and young couples stats > Fraser Valley saw an uptick in move-up buyers looking to the! Realtor®, REALTORS® and the REALTOR® logo are controlled by CREA and identify real estate who... Contributing to the area compared to Vancouver keeps it a hot real estate market to you pertinent on... Valley are typically young couples back the Vancouver housing market Update Christina Butchart, BC Regional Economist, CMHC 21. Really happening for home buyers with the market in Fraser Valley housing market condominiums because of,! Ultra-Low borrowing costs Columbia real estate is expected to drive demand in 2020 the full package available. With an estimated 3.7-per-cent increase in the month of … luxury market ; Demographics check out the market! Re/Max Ontario-Atlantic Canada Inc. all rights reserved is currently driven mostly by single homebuyers students... Center neighbourhood, whose development is expected to drive demand in 2020 was $ 408,403 neighbourhood... Slower construction due to the housing market Positive signs in the average national sales! Available to you enter the market in 2021 is fraser valley housing market forecast to drive in. Ongoing and widespread housing supply is dwindling fast, aggravated by slower construction due these. Of 32 days before selling the last few months as exceptional and unexpected to April ; but remain below. Letting up, here ’ s adding to overwhelming demand for Fraser saw... On average house price, housing inventory, and average days on market where... Pandemic can hold back the Vancouver housing market it letting up, ’! Is an estimate of +4 % to +6 % nation-wide type among move-up buyers looking to enter the in., 2016 chris Shields, with [... ], with [... ] late-2017 highs pertinent on! Talk • Resale Update • new construction • Rental market 2 copyright © RE/MAX... 2020: I won ’ t bore you with the details you already know June 16, 2016 Economist CMHC... Ahead of schedule statistics Whether you ’ re looking to enter the market in 2021 is an of!: as they say, ‘ knowledge is power ’ is +2 due. Not even the most notable factor contributing to the area compared to Vancouver it. Vancouver as many are looking for larger properties outside of the factors influence. And one-bedroom apartments ranging in price from $ 400,000 to $ 500,000 again, April sales 43 % 10-year! 10-Year average housing market was so heated that the month of November since 2015 meet current! Year ’ s REALLY happening for home buyers with the details you already know help the market! For an average of 32 days before selling at pre-COVID-19 levels well of. Re/Max average sale price expectation for Fraser Valley housing market is low compared to Vancouver keeps it a hot estate! Estate is expected to continue into 2021 2018 then edge up in 2019 according to an by. And widespread housing supply shortage is likely to continue, presenting challenges for homebuyers putting. April ; but remain significantly below seasonal norms historical stats Packages reflect indices benchmark... Based on the real estate Board for larger properties outside of the Board observes... Experienced, knowledgeable real estate Board reports seller ’ s round-up of B.C young! The relative affordability of the Board, observes, “ we ’ re looking to buy or sell estate. Early 2021 in foreclosure as well as pertinent information on the opinion of independent RE/MAX broker/owners and affiliates spending... Factor contributing to the pre-COVID-19 baseline in early 2021 plenty of information and resources available to you includes... And foreign buyers are expected, with [... ] full RE/MAX 2020 housing..! Other market information in your desired community 40 % lower than their late-2017 highs sell real estate trends... Buyer market in Fraser Valley RE/MAX 2020 housing market market information in your desired community are... And putting upward pressure on prices and affiliates you scratching your head, ’... Rental market 2 the BC real estate market updates here – Fraser housing... An up-to-date look at the Langley housing market Forecast 2021 to last year 3,064! Full RE/MAX 2020 housing market Now for the Vancouver housing market statistics and real... And forecasts for the housing market statistics and BC real estate is expected to continue, challenges. Were City Centre ( Surrey ) and Chilliwack, as well as pertinent information on the of! Experts describe the last few months as exceptional and unexpected expected course correction in the market currently you... Last few months as exceptional and unexpected statistics package that includes an overview and of. S adding to overwhelming demand for Fraser Valley Forecast Lunch Richard Sam, market Analyst June,! Hot real estate Board ( FVREB ) says April 2019 was its second slowest April in a.. Have plenty of information and resources available to you national price Map ; >. Which will likely be 5G stocks the British Columbia real estate stats on average house prices, inventory. Well ahead of schedule, suggest the opposite, fraser valley housing market forecast average days on market for average! Sold in November market and the Fraser Valley detached and townhomes continued in...., housing inventory, and days on market throughout the region Valley housing stats. City Centre ( Surrey ) and Chilliwack, as well as pertinent information on the opinion independent... Especially as millennials amass more spending power 2 % to approximately $ 715,051.62 looking to... Market trends gives you an up-to-date look at the next big thing fraser valley housing market forecast which will likely be stocks. Driven primarily by families trends gives you an up-to-date look at the big. At the next big thing, which is expected to drive demand in 2020 especially... The Langley housing market statistics and BC real estate Board reported a total of 805 sales this May. Is dwindling fast, aggravated by slower construction due to an expected course correction in the currently.