{"id":22882,"date":"2023-11-08T10:10:00","date_gmt":"2023-11-08T18:10:00","guid":{"rendered":"https:\/\/www.roryc.ca\/blog\/?p=22882"},"modified":"2023-11-06T10:11:55","modified_gmt":"2023-11-06T18:11:55","slug":"fraser-valley-housing-market-sales-prices-continue-to-edge-downward","status":"publish","type":"post","link":"https:\/\/www.roryc.ca\/blog\/2023\/11\/fraser-valley-housing-market-sales-prices-continue-to-edge-downward\/","title":{"rendered":"Fraser Valley Housing Market Sales &amp; Prices Continue to Edge Downward"},"content":{"rendered":"<p style=\"text-align: justify;\">SURREY, BC \u2013 Property sales and new listings in the Fraser Valley fell again in October as consumers continued to put home buying and selling decisions on hold in the face of elevated interest rates.<\/p>\n<p style=\"text-align: justify;\">The Fraser Valley Real Estate Board recorded 970 transactions on its Multiple Listing Service\u00ae (MLS\u00ae) in October, a drop of 12% from the previous month and the fourth consecutive decrease since the 12-month high of 1,935 sales recorded in June.<\/p>\n<p style=\"text-align: justify;\">At 2,535, new listings also fell again, decreasing by 11% from September and by 28% since peaking in May at 3,533.<\/p>\n<p style=\"text-align: justify;\">\u201cWhat we\u2019re seeing in the Fraser Valley and indeed across the province is the impact of sustained high interest rates on the overall market,\u201d said Narinder Bains, Chair of the Fraser Valley Real Estate Board. \u201cThis has been the case since the latter half of the year so far, and we anticipate the trend will continue until we start to see some downward movement in the policy rate.\u201d<\/p>\n<p style=\"text-align: justify;\">Active listings in October were 6,580, up by less than 1% over last month and up by 17% over October 2022. The sales-to-active listings ratio was 15%, creating balanced conditions in the overall market, with detached houses dipping into buyers\u2019 market territory at 12%. The market is considered balanced when the ratio is between 12% and 20%.<\/p>\n<p style=\"text-align: justify;\">\u201cAs the market continues to adjust to the new rate realities, pricing and financing strategies become critical,\u201d said FVREB CEO, Baldev Gill. \u201cA knowledgeable professional REALTOR\u00ae, armed with the latest comparative market data and neighbourhood insights, can be the key to determining optimal market timing.\u201d<\/p>\n<p style=\"text-align: justify;\">Overall benchmark prices continued to slide for the third month in a row, losing 1.4% compared to September. See below for price changes by housing category.<\/p>\n<p style=\"text-align: justify;\"><strong>MLS\u00ae HPI Benchmark Price Activity<\/strong><\/p>\n<p style=\"text-align: justify;\">Single Family Detached : At $1,503,300, the Benchmark price for an FVREB single-family detached home decreased 1.5% compared to September 2023 and increased 4.8% compared to October 2022.<br \/>\nTownhomes : At $845,300, the Benchmark price for an FVREB townhome decreased 0.4% compared to September 2023 and increased 4.7% compared to October 2022.<br \/>\nApartments : At $545,400, the Benchmark price for an FVREB apartment\/condo decreased 0.1% compared to September 2023 and increased 3.7% compared to October 2022.<\/p>\n<p><a href=\"https:\/\/www.fvreb.bc.ca\/statistics\/Package202310.pdf\" target=\"_blank\" rel=\"noopener\">Click here<\/a> to view the October 2023 stats package.<\/p>\n<p><a href=\"https:\/\/www.fvreb.bc.ca\/statistics\/fraser-valley-market-balanced-as-demand-softens-and-prices-edge-lower-2\/\" target=\"_blank\" rel=\"noopener\">Fraser Valley Real Estate Market Weakens as Sales and Prices Continue to Edge Downward<\/a> by FVREB<\/p>\n","protected":false},"excerpt":{"rendered":"<p>SURREY, BC \u2013 Property sales and new listings in the Fraser Valley fell again in October as consumers continued to put home buying and selling decisions on hold in the &hellip; [<a href=\"https:\/\/www.roryc.ca\/blog\/2023\/11\/fraser-valley-housing-market-sales-prices-continue-to-edge-downward\/\">read more<\/a>]<\/p>\n","protected":false},"author":3,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[8],"tags":[],"class_list":["post-22882","post","type-post","status-publish","format-standard","hentry","category-market-updates"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.7 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>Fraser Valley Housing Market Sales &amp; Prices Continue to Edge Downward &#8226; Rory C Real Estate | Oakwyn Realty<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.roryc.ca\/blog\/2023\/11\/fraser-valley-housing-market-sales-prices-continue-to-edge-downward\/\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:title\" content=\"Fraser Valley Housing Market Sales &amp; Prices Continue to Edge Downward &#8226; Rory C Real Estate | Oakwyn Realty\" \/>\n<meta name=\"twitter:description\" content=\"SURREY, BC \u2013 Property sales and new listings in the Fraser Valley fell again in October as consumers continued to put home buying and selling decisions on hold in the &hellip; [read more]\" \/>\n<meta name=\"twitter:creator\" content=\"@RoryClipsham\" \/>\n<meta name=\"twitter:site\" content=\"@RoryClipsham\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Rory Clipsham\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"2 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\\\/\\\/www.roryc.ca\\\/blog\\\/2023\\\/11\\\/fraser-valley-housing-market-sales-prices-continue-to-edge-downward\\\/#article\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/www.roryc.ca\\\/blog\\\/2023\\\/11\\\/fraser-valley-housing-market-sales-prices-continue-to-edge-downward\\\/\"},\"author\":{\"name\":\"Rory Clipsham\",\"@id\":\"https:\\\/\\\/www.roryc.ca\\\/blog\\\/#\\\/schema\\\/person\\\/0672b9777e67473b9bd9247df49499c7\"},\"headline\":\"Fraser Valley Housing Market Sales &amp; Prices Continue to Edge Downward\",\"datePublished\":\"2023-11-08T18:10:00+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\\\/\\\/www.roryc.ca\\\/blog\\\/2023\\\/11\\\/fraser-valley-housing-market-sales-prices-continue-to-edge-downward\\\/\"},\"wordCount\":375,\"commentCount\":0,\"publisher\":{\"@id\":\"https:\\\/\\\/www.roryc.ca\\\/blog\\\/#\\\/schema\\\/person\\\/0672b9777e67473b9bd9247df49499c7\"},\"articleSection\":[\"Market Updates\"],\"inLanguage\":\"en-CA\",\"potentialAction\":[{\"@type\":\"CommentAction\",\"name\":\"Comment\",\"target\":[\"https:\\\/\\\/www.roryc.ca\\\/blog\\\/2023\\\/11\\\/fraser-valley-housing-market-sales-prices-continue-to-edge-downward\\\/#respond\"]}]},{\"@type\":\"WebPage\",\"@id\":\"https:\\\/\\\/www.roryc.ca\\\/blog\\\/2023\\\/11\\\/fraser-valley-housing-market-sales-prices-continue-to-edge-downward\\\/\",\"url\":\"https:\\\/\\\/www.roryc.ca\\\/blog\\\/2023\\\/11\\\/fraser-valley-housing-market-sales-prices-continue-to-edge-downward\\\/\",\"name\":\"Fraser Valley Housing Market Sales &amp; Prices Continue to Edge Downward &#8226; Rory C Real Estate | Oakwyn Realty\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/www.roryc.ca\\\/blog\\\/#website\"},\"datePublished\":\"2023-11-08T18:10:00+00:00\",\"breadcrumb\":{\"@id\":\"https:\\\/\\\/www.roryc.ca\\\/blog\\\/2023\\\/11\\\/fraser-valley-housing-market-sales-prices-continue-to-edge-downward\\\/#breadcrumb\"},\"inLanguage\":\"en-CA\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\\\/\\\/www.roryc.ca\\\/blog\\\/2023\\\/11\\\/fraser-valley-housing-market-sales-prices-continue-to-edge-downward\\\/\"]}]},{\"@type\":\"BreadcrumbList\",\"@id\":\"https:\\\/\\\/www.roryc.ca\\\/blog\\\/2023\\\/11\\\/fraser-valley-housing-market-sales-prices-continue-to-edge-downward\\\/#breadcrumb\",\"itemListElement\":[{\"@type\":\"ListItem\",\"position\":1,\"name\":\"Home\",\"item\":\"https:\\\/\\\/www.roryc.ca\\\/blog\\\/\"},{\"@type\":\"ListItem\",\"position\":2,\"name\":\"Fraser Valley Housing Market Sales &amp; Prices Continue to Edge Downward\"}]},{\"@type\":\"WebSite\",\"@id\":\"https:\\\/\\\/www.roryc.ca\\\/blog\\\/#website\",\"url\":\"https:\\\/\\\/www.roryc.ca\\\/blog\\\/\",\"name\":\"Rory C Real Estate | Oakwyn Realty\",\"description\":\"Rory C Real Estate Updates | Home Selling &amp; Buying\",\"publisher\":{\"@id\":\"https:\\\/\\\/www.roryc.ca\\\/blog\\\/#\\\/schema\\\/person\\\/0672b9777e67473b9bd9247df49499c7\"},\"potentialAction\":[{\"@type\":\"SearchAction\",\"target\":{\"@type\":\"EntryPoint\",\"urlTemplate\":\"https:\\\/\\\/www.roryc.ca\\\/blog\\\/?s={search_term_string}\"},\"query-input\":{\"@type\":\"PropertyValueSpecification\",\"valueRequired\":true,\"valueName\":\"search_term_string\"}}],\"inLanguage\":\"en-CA\"},{\"@type\":[\"Person\",\"Organization\"],\"@id\":\"https:\\\/\\\/www.roryc.ca\\\/blog\\\/#\\\/schema\\\/person\\\/0672b9777e67473b9bd9247df49499c7\",\"name\":\"Rory Clipsham\",\"image\":{\"@type\":\"ImageObject\",\"inLanguage\":\"en-CA\",\"@id\":\"https:\\\/\\\/www.roryc.ca\\\/blog\\\/wp-content\\\/uploads\\\/2019\\\/10\\\/RoryC-white-w-tagline.jpg\",\"url\":\"https:\\\/\\\/www.roryc.ca\\\/blog\\\/wp-content\\\/uploads\\\/2019\\\/10\\\/RoryC-white-w-tagline.jpg\",\"contentUrl\":\"https:\\\/\\\/www.roryc.ca\\\/blog\\\/wp-content\\\/uploads\\\/2019\\\/10\\\/RoryC-white-w-tagline.jpg\",\"width\":504,\"height\":504,\"caption\":\"Rory Clipsham\"},\"logo\":{\"@id\":\"https:\\\/\\\/www.roryc.ca\\\/blog\\\/wp-content\\\/uploads\\\/2019\\\/10\\\/RoryC-white-w-tagline.jpg\"},\"sameAs\":[\"http:\\\/\\\/www.roryc.ca\\\/\",\"https:\\\/\\\/www.facebook.com\\\/pg\\\/BurnabyandCoquitlamHomes\\\/about\\\/?ref=page_internal\",\"https:\\\/\\\/www.instagram.com\\\/roryclipshamhomes\\\/\",\"https:\\\/\\\/x.com\\\/RoryClipsham\"]}]}<\/script>\n<!-- \/ Yoast SEO plugin. -->","yoast_head_json":{"title":"Fraser Valley Housing Market Sales &amp; Prices Continue to Edge Downward &#8226; Rory C Real Estate | Oakwyn Realty","robots":{"index":"index","follow":"follow","max-snippet":"max-snippet:-1","max-image-preview":"max-image-preview:large","max-video-preview":"max-video-preview:-1"},"canonical":"https:\/\/www.roryc.ca\/blog\/2023\/11\/fraser-valley-housing-market-sales-prices-continue-to-edge-downward\/","twitter_card":"summary_large_image","twitter_title":"Fraser Valley Housing Market Sales &amp; Prices Continue to Edge Downward &#8226; Rory C Real Estate | Oakwyn Realty","twitter_description":"SURREY, BC \u2013 Property sales and new listings in the Fraser Valley fell again in October as consumers continued to put home buying and selling decisions on hold in the &hellip; [read more]","twitter_creator":"@RoryClipsham","twitter_site":"@RoryClipsham","twitter_misc":{"Written by":"Rory Clipsham","Est. reading time":"2 minutes"},"schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"Article","@id":"https:\/\/www.roryc.ca\/blog\/2023\/11\/fraser-valley-housing-market-sales-prices-continue-to-edge-downward\/#article","isPartOf":{"@id":"https:\/\/www.roryc.ca\/blog\/2023\/11\/fraser-valley-housing-market-sales-prices-continue-to-edge-downward\/"},"author":{"name":"Rory Clipsham","@id":"https:\/\/www.roryc.ca\/blog\/#\/schema\/person\/0672b9777e67473b9bd9247df49499c7"},"headline":"Fraser Valley Housing Market Sales &amp; Prices Continue to Edge Downward","datePublished":"2023-11-08T18:10:00+00:00","mainEntityOfPage":{"@id":"https:\/\/www.roryc.ca\/blog\/2023\/11\/fraser-valley-housing-market-sales-prices-continue-to-edge-downward\/"},"wordCount":375,"commentCount":0,"publisher":{"@id":"https:\/\/www.roryc.ca\/blog\/#\/schema\/person\/0672b9777e67473b9bd9247df49499c7"},"articleSection":["Market Updates"],"inLanguage":"en-CA","potentialAction":[{"@type":"CommentAction","name":"Comment","target":["https:\/\/www.roryc.ca\/blog\/2023\/11\/fraser-valley-housing-market-sales-prices-continue-to-edge-downward\/#respond"]}]},{"@type":"WebPage","@id":"https:\/\/www.roryc.ca\/blog\/2023\/11\/fraser-valley-housing-market-sales-prices-continue-to-edge-downward\/","url":"https:\/\/www.roryc.ca\/blog\/2023\/11\/fraser-valley-housing-market-sales-prices-continue-to-edge-downward\/","name":"Fraser Valley Housing Market Sales &amp; Prices Continue to Edge Downward &#8226; Rory C Real Estate | Oakwyn Realty","isPartOf":{"@id":"https:\/\/www.roryc.ca\/blog\/#website"},"datePublished":"2023-11-08T18:10:00+00:00","breadcrumb":{"@id":"https:\/\/www.roryc.ca\/blog\/2023\/11\/fraser-valley-housing-market-sales-prices-continue-to-edge-downward\/#breadcrumb"},"inLanguage":"en-CA","potentialAction":[{"@type":"ReadAction","target":["https:\/\/www.roryc.ca\/blog\/2023\/11\/fraser-valley-housing-market-sales-prices-continue-to-edge-downward\/"]}]},{"@type":"BreadcrumbList","@id":"https:\/\/www.roryc.ca\/blog\/2023\/11\/fraser-valley-housing-market-sales-prices-continue-to-edge-downward\/#breadcrumb","itemListElement":[{"@type":"ListItem","position":1,"name":"Home","item":"https:\/\/www.roryc.ca\/blog\/"},{"@type":"ListItem","position":2,"name":"Fraser Valley Housing Market Sales &amp; Prices Continue to Edge Downward"}]},{"@type":"WebSite","@id":"https:\/\/www.roryc.ca\/blog\/#website","url":"https:\/\/www.roryc.ca\/blog\/","name":"Rory C Real Estate | Oakwyn Realty","description":"Rory C Real Estate Updates | Home Selling &amp; Buying","publisher":{"@id":"https:\/\/www.roryc.ca\/blog\/#\/schema\/person\/0672b9777e67473b9bd9247df49499c7"},"potentialAction":[{"@type":"SearchAction","target":{"@type":"EntryPoint","urlTemplate":"https:\/\/www.roryc.ca\/blog\/?s={search_term_string}"},"query-input":{"@type":"PropertyValueSpecification","valueRequired":true,"valueName":"search_term_string"}}],"inLanguage":"en-CA"},{"@type":["Person","Organization"],"@id":"https:\/\/www.roryc.ca\/blog\/#\/schema\/person\/0672b9777e67473b9bd9247df49499c7","name":"Rory Clipsham","image":{"@type":"ImageObject","inLanguage":"en-CA","@id":"https:\/\/www.roryc.ca\/blog\/wp-content\/uploads\/2019\/10\/RoryC-white-w-tagline.jpg","url":"https:\/\/www.roryc.ca\/blog\/wp-content\/uploads\/2019\/10\/RoryC-white-w-tagline.jpg","contentUrl":"https:\/\/www.roryc.ca\/blog\/wp-content\/uploads\/2019\/10\/RoryC-white-w-tagline.jpg","width":504,"height":504,"caption":"Rory Clipsham"},"logo":{"@id":"https:\/\/www.roryc.ca\/blog\/wp-content\/uploads\/2019\/10\/RoryC-white-w-tagline.jpg"},"sameAs":["http:\/\/www.roryc.ca\/","https:\/\/www.facebook.com\/pg\/BurnabyandCoquitlamHomes\/about\/?ref=page_internal","https:\/\/www.instagram.com\/roryclipshamhomes\/","https:\/\/x.com\/RoryClipsham"]}]}},"_links":{"self":[{"href":"https:\/\/www.roryc.ca\/blog\/wp-json\/wp\/v2\/posts\/22882","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.roryc.ca\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.roryc.ca\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.roryc.ca\/blog\/wp-json\/wp\/v2\/users\/3"}],"replies":[{"embeddable":true,"href":"https:\/\/www.roryc.ca\/blog\/wp-json\/wp\/v2\/comments?post=22882"}],"version-history":[{"count":1,"href":"https:\/\/www.roryc.ca\/blog\/wp-json\/wp\/v2\/posts\/22882\/revisions"}],"predecessor-version":[{"id":22884,"href":"https:\/\/www.roryc.ca\/blog\/wp-json\/wp\/v2\/posts\/22882\/revisions\/22884"}],"wp:attachment":[{"href":"https:\/\/www.roryc.ca\/blog\/wp-json\/wp\/v2\/media?parent=22882"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.roryc.ca\/blog\/wp-json\/wp\/v2\/categories?post=22882"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.roryc.ca\/blog\/wp-json\/wp\/v2\/tags?post=22882"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}