INFOGRAPHICS: May 2024 FVREB Fraser Valley Market Reports

Real Estate Landing Pages to Promote Neighbourhoods

Spring inventory continues to build in the Fraser Valley to levels not seen in nearly five years

Slower seasonal sales helped build inventory to its highest level since September 2019 in the Fraser Valley in May, creating more balanced market conditions for home buyers and sellers. The increase in supply over the past several months has further contributed to a softening of price growth, which is good news for buyers.
Active listings increased eight per cent from April to May to 7,904 — up 42 per cent over May 2023 and 19 per cent above the 10-year average.

Sales, however, remained seasonally slow, with 1,517 transactions on the Fraser Valley Real Estate Board’s Multiple Listings Service ® (MLS®) in May, up 3 per cent from April, but down 11 per cent compared to May 2023. May sales were 21 per cent below the 10-year average.

“We are seeing an influx of inventory this spring, primarily due to slower than usual spring sales,” said Jeff Chadha, Chair of the Fraser Valley Real Estate Board. “Growing inventory levels are helping to create a healthy balance in the market, giving buyers more options, especially as prices continue to flatten.”

Read the full report on the FVREB website!

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

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