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May 2023 Fraser Valley Housing Market Update

It is a seller's market in the Fraser Valley housing market as of May 2023, based on the previous months housing statistics. There is a lack of active inventory of homes for sale right now. This is putting some upward pressure on prices across types: detached houses, townhomes and condos. 

While sales and prices are down compared to the same month in 2022, what's notable is the increasing momentum in the market month-over-month.

The days on market to sell is relatively low across all property types. The sales-to-active listings ratio are incredibly strong also. These stats point to a very strong seller's market right now. As such, if you've been considering listing your home for sale, now might be as good a time as any. There are lots of buyers out there active in the market right now. The resiliency of the market is catching many by surprise. So if you're a seller, why not act now and list?

Here are some key stats for the month of April 2023 and some accompanying commentary:


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.