Monday, August 8, 2022 / by Jay Jayoma
Real Estate Market Statistic - July 2022
SURREY, BC – The Fraser Valley real estate market saw sales fall again in July in the face of continued interest rate hikes, as the government struggles to bring inflation under control.
In July, the Fraser Valley Real Estate Board (FVREB) processed 993 sales on its Multiple Listing Service® (MLS®), a decrease of 22.5 per cent from the previous month and a 50.5 per cent drop compared to July 2021, when the province was still in acute pandemic mode. July new listings totaled 2,385, a 28.4 per cent decrease compared to
June and a decrease of 1.9 per cent compared to July 2021.
Across the Fraser Valley in July, the average number of days to sell a single-family detached home was 24 and a townhome was 19 days. Apartments took, on average, 21 days to sell.
