Ravi Punia - REALTOR®

Fraser Valley Specialist

FRASER VALLEY REAL ESTATE BLOG POSTS

2022 BC Property Assessments Out


The 2022 property assessments are now live on BC Assessment's website https://www.bcassessment.ca/.


Their interactive assessment summary map shows what has been widely reported on throughout 2021, that single-family home values have been on fire across the Fraser Valley.  BC Assessment is reporting that the typical single-family home has risen in value as of July 1, 2021 (versus the year prior) as follows:


DELTA - up 31%

SURREY - up 32%

LANGLEY - up 31%

ABBOTSFORD - up 36%

CHILLIWACK - up 39%


It is no secret that the pandemic has sparked a mad rush and insatiable demand for more space and larger homes.  Detached homes, in particular, have been the coveted object of desire for buyers.  The Fraser Valley offers nice suburban homes in family-friendly neighbourhoods.  There are ample properties with nice size homes and yards.  Single-family homes, as such, are very "COVID friendly".  


There remains extremely tight and limited active inventory for single-family detached homes in the Fraser Valley.  With still high demand, there is likely going to continue to be continued pressure upwards on detached home prices in Surrey, Langley, Abbotsford and Chilliwack.


Still, there are loads of other options in the attached space, for both townhomes and condo apartments, if buyers have flexibility.



*This blog communication is not intended to cause or induce breach of an existing agency agreement.  Views are my own and do not reflect those of any organizations that I may be associated with.

The data relating to real estate on this website comes in part from the MLS® Reciprocity program of either the Real Estate Board of Greater Vancouver (REBGV), the Fraser Valley Real Estate Board (FVREB) or the Chilliwack and District Real Estate Board (CADREB). Real estate listings held by participating real estate firms are marked with the MLS® logo and detailed information about the listing includes the name of the listing agent. This representation is based in whole or part on data generated by either the REBGV, the FVREB or the CADREB which assumes no responsibility for its accuracy. The materials contained on this page may not be reproduced without the express written consent of either the REBGV, the FVREB or the CADREB.