THE CANADIAN PRESS/Sean Kilpatrick

THE CANADIAN PRESS/Sean Kilpatrick

Property sales hit an all-time record for October, says Fraser Valley Real Estate Board

High demand creates 4th month in a row of ‘record-breaking or near-record activity’

October was a record-breaking month for sales, according to the Fraser Valley Real Estate Board.

“Ongoing demand for Fraser Valley real estate saw overall sales reach the highest point for the month of October in the Board’s history,” says a Nov. 3 news release from the board. “This is the fourth consecutive month of record-breaking or near-record activity for sales and new listings in the region.”

A total of 2,370 sales were made through the board’s listing service, an increase of 48.9 per cent since last year and a 6.2 per cent increase from September.

While the 3,081 new listings were not as high as September’s numbers, they still reached levels not seen in October for over a decade and were the fourth highest of all time. October’s listings saw an increase of 29.3 per cent over last year.

“The situation is unprecedented. We are in the middle of a pandemic and in many of our communities we are seeing a strong seller’s market for townhomes and single-family homes priced correctly,” said Chris Shields, president of the board. “For example, in Langley, our current supply of detached homes would sell in 1.4 months if no new listings became available. And for Mission townhomes, we have zero months of inventory.

“If you’re thinking of buying or selling, seek expert advice because every neighbourhood and property type is unique.”

At the end of the October, there were 6,872 active listings, a decrease of 6.8 per cent compared to September, 7.1 per cent less than last year and 11.9 per cent under the 10-year average for the month.

The average time it took to sell an apartment was 36 days, for townhomes it was 27 days and 30 days for single-family detached homes.

  • The benchmark price for a single-family detached home in the Fraser Valley increased 1.4 per cent from September to $1,046,900 – and increased 9.9 per cent compared to October 2019.
  • The benchmark price for a townhome increased 0.3 per cent from September to $569,200 – and increased 5.0 per cent compared to October 2019.
  • The benchmark price for apartments and condos decreased by 0.5 per cent from September to $434,600 – and increased 4.2 per cent compared to October 2019.

RELATED: Sellers’ market: Housing prices continue to rise in Abbotsford and Mission

RELATED: It was a hot August for home sales and new listings in Fraser Valley

Fraser ValleyReal estate

Just Posted

A proposal for a cannabis dispensary on Annacis Island is heading to public hearing after Delta council gave the application first and second reading on Monday, June 14, 2021. (City of Delta staff report image)
Delta cannabis dispensary application headed to public hearing

Store and warehouse proposed for medium industrial-zoned property on Annacis Island

Converter thefts have increased dramatically as the price of platinum has skyrocketed. (Ryan Remiorz/The Canadian Press photo)
Catalytic converter thefts continue to plague Delta

Police say the thefts are on the rise across the city, with seven incidents on Thursday, June 17

Launched in January, Uplift Canada was founded by Tsawwassen resident Maggie Larocque. (submitted photo)
Surrey shelters get clothing collected June 26 by Uplift Canada

Book a pickup on website of the new non-profit, founded by Delta resident

Emergency crews responded to a large truck fire under the Alex Fraser Bridge around 8:20 p.m. on Thursday, June 17, 2021. (Christine Tobias/Twitter photo)
Dog dies in truck fire under Alex Fraser Bridge

No people were injured in blaze that consumed two semi-trucks around 8:20 p.m. on Thursday, June 17

A small pod of Pacific white-sided dolphins pass by close to shore in Campbell River June 16, 2021. Still capture from video courtesy of Kimberly Hart
VIDEO: Dolphin sunset captured from Vancouver Island shore

Spectacular setting for view of travelling pod of Pacific white-sided dolphins

Police are asking for public assistance in locating Anthony Graham who has been charged with the murders of Kamloops brothers Carlo and Erick Fryer. (RCMP photo)
2 charged, suspect at large in killings of B.C. brothers linked to gang activity: RCMP

Kamloops brothers Erick and Carlo Fryer were found deceased in May on a remote Okanagan road

Albert Health Minister Tyler Shandro and Alberta Premier Jason Kenney unveil an opening sign after speaking about the Open for Summer Plan and next steps in the COVID-19 vaccine rollout, in Edmonton, Friday, June 18, 2021. THE CANADIAN PRESS/Jason Franson
Alberta 1st province in Canada to lift all COVID-19 public health restrictions

70.2% of eligible citizens 12 and older in the province have received a dose of the vaccine

Fraser Health registered nurse Ramn Manan draws a dose of the Pfizer COVID-19 vaccine into a syringe at a walk-up vaccination clinic at Bear Creek Park, in Surrey, B.C., on Monday, May 17, 2021. THE CANADIAN PRESS/Darryl Dyck
‘Honour our fathers’ with COVID-19 vaccine protection, B.C. urges

109 new cases Friday, 75 per cent of 12 and up immunized

(Paul Henderson/ Chilliwack Progress)
Trutch Avenue in Chilliwack to be renamed to remove racist taint

New name to have Indigenous significance as Chilliwack takes new step toward reconciliation

Canadian Prime Minister Justin Trudeau is seen during a joint news conference following the EU-Canada Summit, in Brussels, Belgium, Tuesday June 15, 2021. Trudeau says Canada is on track now to have 68 million doses delivered by the end of July, which is more than enough to fully vaccinate all 33.2 million Canadians over the age of 12. THE CANADIAN PRESS/Adrian Wyld
Vaccine deliveries enough to fully vaccinate all eligible Canadians by end of July

Three in four eligible Canadians now have their first dose, nearly one in five fully vaccinated.

A search is underway for a 75-year-old fisherman who went missing near Port Angeles Thursday evening. (Courtesy of U.S. Coast Guard)
Search continues for angler missing between Port Angeles and Victoria

Canadian, U.S. Coast Guard searching for 75-year-old man reported missing Thursday evening

Chief Public Health Officer Theresa Tam listens to a question during a news conference, in Ottawa, Tuesday, Jan. 12, 2021. The number of confirmed COVID-19 cases attributed to the highly contagious Delta variant grew in Canada this week. THE CANADIAN PRESS/Adrian Wyld
Canada’s public health agency reports spike in confirmed cases of Delta variant

More than 2,000 cases of the variant confirmed across all 10 provinces and in one territory

Most Read