INFOGRAPHICS: June 2024 FVREB Fraser Valley Market Reports

Real Estate Landing Pages to Promote Neighbourhoods

Fraser Valley home sales fall despite Bank of Canada rate cut

The Fraser Valley Real Estate Board recorded 1,317 sales in June, down by 13 per cent over last month and by more than 30 per cent over both last year and the 10-year seasonal average.

While sales remain soft, inventory continued to build for the sixth straight month to 8,350 active listings. Active listings increased 41 per cent over June 2023 and are the highest they’ve been in five years.

New listings dropped in June, down nine per cent from May, to 3,418. With a sales-to-active listings ratio of 16 per cent, overall market conditions are balanced. The market is considered balanced when the ratio is between 12 per cent and 20 per cent.

“With seasonally slow sales in June and a steady increase in inventory, we’d expect to see affordability improve,” said Jeff Chadha, Chair of the Fraser Valley Real Estate Board. “However, prices in the Fraser Valley remained relatively flat. That said, despite slow sales, properties that are well-priced are finding buyers, and are subsequently selling within three to four weeks.”

Read the full report on the FVREB website!

The following data is a comparison between June 2024 and June 2023 numbers, and is current as of July 2024. For last month’s report, check out our previous infographic!

Or follow this link for all our FVREB Infographics!

These infographics cover current trends in Fraser Valley neighbourhoods that are within the FVREB. Click on the images for a larger view!