Ravi Punia - REALTOR®

Fraser Valley Specialist


February 2022 Fraser Valley Real Estate Highlites

The real estate market in the Fraser Valley, including North Delta, Surrey, Langley, Abbotsford and Mission, saw a surge in new home listings.  This big increase in new listings was a nice relief for home buyers.  New listings of homes put on the market were up 75% compared to the month prior (January 2022).  In fact, the 3,742 new listings processed in February, was the highest ever for that month.

It is too early to call this a new trend, but having more listings hit the market for two months in a row is a welcome relief for Fraser Valley homebuyers.  If this becomes a trend, it will bring much needed balance between supply and demand to the market.

Here's an overview of market activity in the Fraser Valley in February 2022:

As you can see, home prices were up huge year-over-year for the month.  And detached houses, towhouses and apartments all sold very fast, on average.  It remains a seller's market.

I will be posting my monthly Fraser Valley Real Estate Newsletter for February 2022 shortly.  In it, I will provide an in-depth analysis and opinions on North Delta, Surrey, Langley, Abbotsford and Mission residential real estate.

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*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.