Market Numbers March 31, 2021
Andy Schildhorn • April 6, 2021
March shatters monthly sales and new listings records in the Fraser Valley
SURREY, BC – Fraser Valley real estate hit two historical highs in March, setting records for both sales and new listings processed in one month since the Fraser Valley Real Estate Board’s (FVREB) inception in 1921.
In March, the FVREB processed 3,329 residential and commercial sales on its Multiple Listing Service® (MLS®), an increase of 131 per cent compared to March 2020 and 18 per cent more than were processed in February. The previous record of 3,006 sales was set in March of 2016.
Larry Anderson, President of the Board, said of this month’s statistics, “This market is uncharted territory for Fraser Valley real estate. The surprising strength of the economy, the influence of the pandemic and a lack of inventory of all property types has created unprecedented demand for housing in our region.
“It is very stressful for buyers. REALTORS® are working hard to guide them through what has become a protracted, powerful seller’s market. As we continue to help our clients grapple with escalating prices and multiple offers, March did bring some good news. It set a record for volume of new listings received improving selection,” said Anderson
The Board received 5,087 new listings in March, an increase of 91 per cent compared to March of last year, and 56 per cent more than were processed in February. The previous high for new listings was 4,458 in April 2008. Total active inventory for March was 5,012, a decrease of 18 per cent compared to last year’s 6,083 active listings, however 22 per cent higher than February 2021.
Baldev Gill, Chief Executive Officer of the Board, added, “The impact of the pandemic on the market cannot be overstated and as we know from the province’s latest announcement, we are in a precarious situation currently. Since the end of the first lockdown in 2020, the real estate profession has led the way on protecting its members and the public.
“Realtors take this extra duty to protect their clients during private, in-person showings very seriously and will continue to remain vigilant until vaccines are rolled out to the greater population,” added Gill.
Across Fraser Valley, in March, the average number of days to sell a single-family detached home was 15 and a townhome was 14 days. Apartments took, on average, 31 days to sell.
MLS® HPI Benchmark Price Activity
- Single Family Detached: At $1,237,900, the Benchmark price for an FVREB single-family detached home increased 6.4 per cent compared to February 2021 and increased 25.3 per cent compared to March 2020.
- Townhomes: At $624,500, the Benchmark price for an FVREB townhome increased 4.0 per cent compared to February 2021 and increased 13.7 per cent compared to March 2020.
- Apartments: At $465,400, the Benchmark price for an FVREB apartment/condo increased 3.2 per cent compared to February 2021 and increased 6.5 per cent compared to March 2020.
The widening of Highway 1 will bring a brand new type of interchange to the Fraser Valley—and leave motorists briefly driving on the “wrong” side of the road.. Read More
Join us this Saturday, June 21st from 2:00–5:00 PM for the Bedford Landing Block Party at 23101 Muench Trail, Fort Langley. We'll have: 🌭 Hot dogs & fries by donation (thanks to the Lions Club) 🎨 Face painting & fun activities 🤝 A chance to connect with neighbours and celebrate the start of summer Whether you're new to the area or a familiar face, we’d love to see you there. 📍 23101 Muench Trail, Fort Langley 🗓️ Saturday, June 21st | 🕑 2:00–5:00 PM Bring your family, your friends, and your appetite!
Wondering what’s really happening in the Langley and Fraser Valley Real Estate market? In this video, I break down the May 2025 stats, so you can make smarter decisions whether you're buying or selling. 📈 Sales rose 13% in May 🏘️ Inventory climbed to a 10-year high 💸 Benchmark prices dropped across all home types 📉 The Fraser Valley is officially a buyer’s market ⏳ Days on market are holding steady Whether you're navigating Langley Real Estate or keeping an eye on broader Fraser Valley housing trends, this update provides the context and strategy you need. With over 30 years of experience in the Langley and Fraser Valley Real Estate markets, I help you make informed decisions in any market cycle. 📊 Want to dive deeper? Full May 2025 FVREB market numbers: https://rly.forsale/May2025Stats
