Fraser Valley sees strong home sales despite short supply

The Fraser Valley, BC, real estate market saw strong sales activity in June with levels on par with the 10-year average for the month, amid on-going challenges with supply. In June, the Fraser Valley Real Estate Board (FVREB) processed 1,935 sales, an increase of 51.1% compared to June 2022 and a 13.1% increase compared to May. The average number of days to sell a single-family detached home was 21 and a townhome was 16 days. Apartments took, on average, 22 days to sell. The Board received 3,424 new listings in June, an increase of 2.8% compared to last year, and a decrease of 3.1% compared to May. The month ended with a total active inventory of 5,944, a 6.9% increase.