FVREB Market Data: March 2016

Can you say ‘doozy’?

Finishing at 3,006 sales, Fraser Valley real estate hit a historical high in March, setting the all-time record for sales processed in one month since our Board’s inception in 1921. The previous record, also from March back in 1991, was set at 2,720 sales in one month. Suffice it to say, this year’s momentum is continuing into Spring.

Other notable statistics:

  • The MLS® HPI benchmark price of a Fraser Valley single family detached home in March was $741,000, an increase of 26 per cent compared to March 2015 when it was $518,500.
  • The benchmark price for townhouses was $344,300, and $217,200 for apartments.
  • The Board received 4,057 new listings in March, an increase of 31 per cent compared to March of last year.
  • Total active inventory for March finished at 5,485 listings, which is a 33 per cent decrease compared to last year’s 8,193 active listings for the month.

To see this month’s statistics package, including data analysis and breakdowns by each of the Fraser Valley’s main regions, click here.