The Fraser Valley Real Estate Board (FVREB) processed a total of 805 sales on its Multiple Listing Service® (MLS®) in May, an increase of 17 per cent compared to sales in April and a decrease of 47 per cent compared to the 1,517 sales during May of last year.
Sale prices are still strong! This is a result of the low supply. We are even seeing multiple offers, especially with multi-family dwellings such as Townhomes and condos.
As restrictions begin to ease off, I hope to see inventory climb over the summer months.