In the last three months, Fraser Valley has seen a defined shift in demand towards single family detached homes with sales in July through to September garnering 47 per cent of the three main residential types.
As a result, we are seeing people moving out of the City and surrounding neighbourhoods and out East where they can afford more space.
Buyer demand is strong. This is partly a reflection of record low interest rates increasing buying power. People can afford a higher budget than they could in the past when rates were higher.
The Fraser Valley Board input over 3500 new listings in September 2020 alone. That’s 6.2 per cent increase compared to August’s intake and a 26.9 per cent increase compared to September of last year
Below is a breakdown of the benchmark pricing for Sing-Family Detached, Townhomes and condos across the Fraser valley.
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