Mirroring the weather, Fraser Valley’s hot housing market cooled slightly in June going from a boil to a simmer 

 July 5, 2021

SURREY, BC – Sales on the Fraser Valley Real Estate Board’s Multiple Listing Service® (MLS®) remained robust in June however, for the first time since last September, monthly sales did not break a historical record.      

In June, the Board processed 2,247 sales on its MLS®, a decrease of 24 per cent compared to May and a 31 per cent increase compared to June of last year.  Sales continued to remain elevated compared to a typical June – 22 per cent above the ten‐year average.   

Larry Anderson, President of the Board, said, “In June, we shifted from an extreme seller’s market to a strong seller’s market. Although demand for Fraser Valley homes remains very high – over 40 per cent of active listings sold in June – we’re seeing the market settle down giving buyers and sellers more room to maneuver.   

“We’re now seeing more subject offers and for the first time in months, we’re starting to see price reductions.”  

 In June, the Board received 3,108 new listings, a decrease of 10 per cent compared to last year, and a decrease of 21 per cent compared to May 2021. The month ended with total active inventory sitting at 5,474, a 7 per cent decrease compared to May, and 22.5 per cent fewer than June 2020.     

Anderson continued, “A lack of supply continues to be the single largest factor affecting the market. Simply put, to meet current demand and get back to balance, we need about 3,500 more active listings in our region.” 

Baldev Gill, Chief Executive Officer of the Board, added, “Effective July 1, as part of Stage 3 of BC’s Restart Plan, REALTORS® are again allowed to hold in‐person showings and open houses while continuing to adhere to public safety recommendations.  

 “For more than a year, our industry has put tremendous effort into keeping the public safe and we will remain vigilant. We’d like to express our sincere appreciation to the public for your continued support and cooperation.”

 Across Fraser Valley, in June, the average number of days to sell a single‐family detached home was 17 and a townhome was 12 days. Apartments took, on average, 21 days to sell.   

MLS® HPI Benchmark Price Activity  

Single Family Detached: At $1,324,400, the Benchmark price for an FVREB single‐family detached home increased 0.1 per cent compared to May 2021 and increased 33.2 per cent compared to June 2020.  

Townhomes: At $678,400, the Benchmark price for an FVREB townhome increased 1.3 per cent compared to May 2021 and increased 21.2 per cent compared to June 2020.  

Apartments: At $493,500, the Benchmark price for an FVREB apartment/condo increased 1.0 per cent compared to May 2021 and increased 13.4 per cent compared to June 2020.

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Joanne Bonetti

My Story

I love my Career as a Real Estate Professional.

Born and raised in Langley, I chose to specialize in this area.
I have watched Langley transform into what it is today.
Growing up I was a member of Otter 4-H Lamb Chop, Langley
Pony Club, Langley United Soccer and the gymnastics club.
I graduated from DW Poppy Secondary. I still enjoy an active
lifestyle and frequently run around Strawberry Hills with our
family dog. Family is very important to me and one of the reasons
I chose Real Estate as a career. With the flexible hours and the
ability to work from home, it becomes a lifestyle, rather than a job.
I believe in specializing in one area. If I have a client moving to
another area, I am always happy to get them in contact with a
trusted agent who specializes in THAT area. Having lived in Langley
 my entire life, I am familiar with all the changes taking place. I joke
with my clients “Ask me anything !” Where the schools are, the best
commuter routes, which areas are more popular, best shopping,
entertainment and the new developments coming up. I live on acreage,
and I have a number of clients moving east and getting into small
acreages. Being on a drilled well and septic field can be quite
intimidating. I have contacts in those areas, I can help them
understand and be comfortable with the transition.
Langley is a great place to live, and I would be more than happy
to show you some fantastic places. A big Thank you to all my clients,
friends, and family for your continued support.

Proud Supporter of the BC Cancer Foundation


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