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Fraser	Valley	Real	Estate	Board	
Monthly Statistics Package
February 2021
News Release
Fraser	Valley	Real	Estate	Board	
Contact
Laurie Dawson, Communications Specialist    laurie.dawson@fvreb.bc.ca 
Fraser Valley Real Estate Board    Telephone 604.930.7657 
    Fax 604.930.7623 
    www.fvreb.bc.ca 
    http://fvreb.bc.ca/statistics/eStats‐2021‐02.html  
For Immediate Release:  March 2, 2021 
 
Another month, another record for property sales in the 
Fraser Valley  
SURREY, BC – For the sixth consecutive month, Fraser Valley’s real estate market experienced property sales at 
levels never seen before in the 100‐year history of the Fraser Valley Real Estate Board (FVREB).  
 
In February, the FVREB processed a total of 2,815 sales on its Multiple Listing Service® (MLS®), an increase of 108 
per cent compared to February 2020 and 64 per cent more than were processed in January 2021. To provide a 
historical perspective, sales in February were 88 per cent above the 10‐year average for that month; and 18 per 
cent higher than the previous record of 2,387 sales in February 2016.    
  
Chris Shields, President of the Board said of this month’s record numbers, “This is new territory for us. We have 
never seen such consistent and persistent demand for housing in the Fraser Valley.  
 
“What’s fueling the demand is the combination of record‐low interest rates and the response to the pandemic. It’s 
not something that could have been predicted and it has created a very complex market for buyers that requires 
the knowledge and expertise of a professional. For family‐sized homes, prices climbed 3 to 5 per cent in February 
alone and sold on average in three weeks. We understand the stress and frustration with the market currently and 
we’re here to help guide and protect home buyers.”  
 
The Board received 3,265 new listings in February, an increase of 28 per cent compared to February of last year, 
placing it second highest for February for new listings in the last decade. The total active inventory for February 
was 4,120, down 28 per cent from last year’s 5,741 active listings, and the lowest ever for the month. 
 
Baldev Gill, Chief Executive Officer of the Board, added, “We know more people are choosing to move to the 
Fraser Valley right now because they’re seeking more usable space, a better quality of life, and they recognize that 
their housing dollar goes further. The challenge is selection. We anticipate as the vaccination roll‐out accelerates, 
confidence to list will increase and we’ll see inventory return to more normal levels. In the meantime, REALTORS® 
will continue to ensure consumer safety is at the forefront of all home viewings and transactions.” 
 
Across Fraser Valley, in February, the average number of days to sell a single‐family detached home and a 
townhome was 21 days. Apartments took on average 35 days to sell.  
  
MLS® HPI Benchmark Price Activity 
 
 Single Family Detached: At $1,163,400, the Benchmark price for an FVREB single‐family detached home 
increased 5.1 per cent compared to January 2021 and increased 19.9 per cent compared to February 2020. 
 Townhomes: At $600,300, the Benchmark price for an FVREB townhome increased 3.4 per cent compared to 
January 2021 and increased 10.1 per cent compared to February 2020. 
 Apartments: At $450,900, the Benchmark price for an FVREB apartment/condo increased 2.5 per cent 
compared to January 2021 and increased 5.3 per cent compared to February 2020. 
 
—30 — 
 
The Fraser Valley Real Estate Board is an association of 3,840 real estate professionals who live and work in the BC communities of 
North Delta, Surrey, White Rock, Langley, Abbotsford, and Mission. The FVREB will mark its 100‐year anniversary in 2021. 
MLS® Summary - Fraser Valley
February 2021
All Property Types All Property Types
Grand Totals Feb-21 Feb-20 % change Jan-21 % change Grand Totals - year to date 2021 2020 % change
Sales 2,815 1,352 108.2% 1,718 63.9% Sales - year to date 4,530 2,326 94.8%
New Listings 3,265 2,557 27.7% 2,784 17.3% New Listings - year to date 6,049 4,773 26.7%
Active Listings 4,120 5,741 -28.2% 4,210 -2.1%
Average Price 954,222
$ 761,494
$ 25.3% 948,610
$ 0.6%
Detached Townhouse Apartment
All Areas Combined Feb-21 Feb-20 % change Jan-21 % change Feb-21 Feb-20 % change Jan-21 % change Feb-21 Feb-20 % change Jan-21 % change
Sales 1,084 534 103.0% 678 59.9% 788 341 131.1% 461 70.9% 667 315 111.7% 372 79.3%
New Listings 1,390 945 47.1% 981 41.7% 720 556 29.5% 650 10.8% 756 630 20.0% 770 -1.8%
Active Listings 1,303 1,903 -31.5% 1,207 8.0% 531 923 -42.5% 683 -22.3% 1,179 1,179 0.0% 1,283 -8.1%
Benchmark Price 1,163,400
$ 970,200
$ 19.9% 1,106,500
$ 5.1% 600,300
$ 545,300
$ 10.1% 580,800
$ 3.4% 450,900
$ 428,400
$ 5.3% 439,800
$ 2.5%
Median Price 1,268,000
$ 981,000
$ 29.3% 1,200,000
$ 5.7% 659,000
$ 579,900
$ 13.6% 640,000
$ 3.0% 430,000
$ 385,900
$ 11.4% 415,000
$ 3.6%
Average Price 1,356,006
$ 1,062,878
$ 27.6% 1,280,065
$ 5.9% 669,099
$ 587,031
$ 14.0% 650,722
$ 2.8% 443,698
$ 401,036
$ 10.6% 429,863
$ 3.2%
Detached Townhouse Apartment
Abbotsford Feb-21 Feb-20 % change Jan-21 % change Feb-21 Feb-20 % change Jan-21 % change Feb-21 Feb-20 % change Jan-21 % change
Sales 177 77 129.9% 114 55.3% 99 33 200.0% 53 86.8% 99 39 153.8% 48 106.3%
New Listings 219 144 52.1% 147 49.0% 84 77 9.1% 89 -5.6% 111 111 0.0% 119 -6.7%
Active Listings 154 256 -39.8% 153 0.7% 72 126 -42.9% 95 -24.2% 174 214 -18.7% 183 -4.9%
Benchmark Price 988,800
$ 811,500
$ 21.8% 927,000
$ 6.7% 501,900
$ 457,300
$ 9.8% 487,800
$ 2.9% 335,700
$ 313,300
$ 7.1% 327,300
$ 2.6%
Median Price 1,040,000
$ 766,000
$ 35.8% 950,850
$ 9.4% 569,000
$ 489,900
$ 16.1% 545,000
$ 4.4% 335,000
$ 290,000
$ 15.5% 305,500
$ 9.7%
Average Price 1,081,973
$ 803,986
$ 34.6% 1,009,782
$ 7.1% 554,261
$ 487,551
$ 13.7% 544,522
$ 1.8% 342,194
$ 291,405
$ 17.4% 305,064
$ 12.2%
Detached Townhouse Apartment
Mission Feb-21 Feb-20 % change Jan-21 % change Feb-21 Feb-20 % change Jan-21 % change Feb-21 Feb-20 % change Jan-21 % change
Sales 80 35 128.6% 41 95.1% 5 8 -37.5% 5 0.0% 8 2 300.0% 7 14.3%
New Listings 77 51 51.0% 62 24.2% 2 7 -71.4% 4 -50.0% 6 14 -57.1% 8 -25.0%
Active Listings 53 147 -63.9% 68 -22.1% 5 29 -82.8% 8 -37.5% 5 20 -75.0% 8 -37.5%
Benchmark Price 822,800
$ 668,300
$ 23.1% 795,300
$ 3.5% 495,300
$ 451,400
$ 9.7% 482,700
$ 2.6% 372,800
$ 339,700
$ 9.7% 377,700
$ -1.3%
Median Price 905,250
$ 735,000
$ 23.2% 850,000
$ 6.5% 370,000
$ 508,450
$ -27.2% 410,000
$ -9.8% 316,000
$ 284,000
$ 11.3% 322,000
$ -1.9%
Average Price 942,322
$ 758,666
$ 24.2% 870,765
$ 8.2% 442,380
$ 487,837
$ -9.3% 382,700
$ 15.6% 318,625
$ 284,000
$ 12.2% 370,071
$ -13.9%
Source: Fraser Valley Real Estate Board MLS® Summary Page 1 of 3
Detached Townhouse Apartment
White Rock / South Surrey Feb-21 Feb-20 % change Jan-21 % change Feb-21 Feb-20 % change Jan-21 % change Feb-21 Feb-20 % change Jan-21 % change
Sales 206 72 186.1% 116 77.6% 134 50 168.0% 93 44.1% 128 63 103.2% 60 113.3%
New Listings 263 175 50.3% 210 25.2% 124 99 25.3% 128 -3.1% 131 114 14.9% 149 -12.1%
Active Listings 325 443 -26.6% 311 4.5% 77 189 -59.3% 101 -23.8% 238 234 1.7% 279 -14.7%
Benchmark Price 1,546,700
$ 1,305,200
$ 18.5% 1,476,500
$ 4.8% 718,100
$ 615,800
$ 16.6% 681,500
$ 5.4% 512,400
$ 485,600
$ 5.5% 510,000
$ 0.5%
Median Price 1,534,000
$ 1,289,100
$ 19.0% 1,490,357
$ 2.9% 766,100
$ 689,950
$ 11.0% 700,500
$ 9.4% 490,000
$ 446,000
$ 9.9% 475,500
$ 3.0%
Average Price 1,730,133
$ 1,437,633
$ 20.3% 1,701,500
$ 1.7% 790,381
$ 713,103
$ 10.8% 772,073
$ 2.4% 546,300
$ 499,752
$ 9.3% 569,909
$ -4.1%
Detached Townhouse Apartment
Langley Feb-21 Feb-20 % change Jan-21 % change Feb-21 Feb-20 % change Jan-21 % change Feb-21 Feb-20 % change Jan-21 % change
Sales 122 91 34.1% 69 76.8% 206 85 142.4% 100 106.0% 172 74 132.4% 99 73.7%
New Listings 165 141 17.0% 108 52.8% 191 117 63.2% 141 35.5% 214 133 60.9% 198 8.1%
Active Listings 160 234 -31.6% 136 17.6% 119 136 -12.5% 154 -22.7% 300 291 3.1% 298 0.7%
Benchmark Price 1,210,600
$ 1,002,200
$ 20.8% 1,163,100
$ 4.1% 611,600
$ 559,200
$ 9.4% 593,200
$ 3.1% 415,600
$ 392,400
$ 5.9% 406,100
$ 2.3%
Median Price 1,290,000
$ 1,029,000
$ 25.4% 1,170,800
$ 10.2% 650,000
$ 589,000
$ 10.4% 650,112
$ 0.0% 463,450
$ 373,500
$ 24.1% 430,000
$ 7.8%
Average Price 1,411,704
$ 1,076,370
$ 31.2% 1,246,214
$ 13.3% 676,872
$ 589,383
$ 14.8% 663,208
$ 2.1% 458,077
$ 407,821
$ 12.3% 431,545
$ 6.1%
Detached Townhouse Apartment
Delta - North Feb-21 Feb-20 % change Jan-21 % change Feb-21 Feb-20 % change Jan-21 % change Feb-21 Feb-20 % change Jan-21 % change
Sales 62 37 67.6% 48 29.2% 12 7 71.4% 12 0.0% 12 3 300.0% 6 100.0%
New Listings 97 55 76.4% 65 49.2% 11 13 -15.4% 8 38% 29 15 93.3% 19 52.6%
Active Listings 99 121 -18.2% 75 32.0% 11 27 -59.3% 13 -15.4% 44 30 46.7% 36 22.2%
Benchmark Price 1,068,500
$ 916,600
$ 16.6% 1,010,900
$ 5.7% 592,100
$ 574,400
$ 3.1% 576,600
$ 2.7% 397,200
$ 377,200
$ 5.3% 388,300
$ 2.3%
Median Price 1,243,500
$ 931,000
$ 33.6% 1,150,000
$ 8.1% 750,000
$ 640,000
$ 17.2% 665,000
$ 12.8% 429,750
$ 455,000
$ -5.5% 448,500
$ -4.2%
Average Price 1,313,032
$ 1,007,214
$ 30.4% 1,176,960
$ 11.6% 743,875
$ 638,464
$ 16.5% 643,916
$ 15.5% 427,400
$ 426,433
$ 0.2% 450,000
$ -5.0%
Source: Fraser Valley Real Estate Board MLS® Summary Page 2 of 3
Detached Townhouse Apartment
City of Surrey - Combined* Feb-21 Feb-20 % change Jan-21 % change Feb-21 Feb-20 % change Jan-21 % change Feb-21 Feb-20 % change Jan-21 % change
Sales 596 283 110.6% 386 54.4% 457 208 119.7% 285 60.4% 327 172 90.1% 182 79.7%
Benchmark Price 1,261,400
$ 1,061,000
$ 18.9% 1,198,900
$ 5.2% 624,300
$ 564,000
$ 10.7% 602,500
$ 3.6% 416,500
$ 394,800
$ 5.5% 403,400
$ 3.2%
Average Price 1,460,184
$ 1,151,198
$ 26.8% 1,389,647
$ 5.1% 690,750
$ 603,938
$ 14.4% 670,044
$ 3.1% 447,163
$ 400,853
$ 11.6% 424,401
$ 5.4%
*North Surrey, Central Surrey, Cloverdale and South Surrey, excl. White Rock
Detached Townhouse Apartment
Surrey - Central Feb-21 Feb-20 % change Jan-21 % change Feb-21 Feb-20 % change Jan-21 % change Feb-21 Feb-20 % change Jan-21 % change
Sales 225 130 73.1% 170 32.4% 192 98 95.9% 131 46.6% 50 25 100.0% 29 72.4%
New Listings 271 214 26.6% 218 24.3% 175 152 15.1% 171 2.3% 52 50 4.0% 69 -24.6%
Active Listings 233 363 -35.8% 225 3.6% 153 258 -40.7% 201 -23.9% 108 71 52.1% 135 -20.0%
Benchmark Price 1,190,300
$ 1,012,400
$ 17.6% 1,140,400
$ 4.4% 610,100
$ 563,300
$ 8.3% 590,500
$ 3.3% 447,400
$ 421,200
$ 6.2% 432,900
$ 3.3%
Median Price 1,302,000
$ 1,056,750
$ 23.2% 1,272,500
$ 2.3% 669,500
$ 575,000
$ 16.4% 630,000
$ 6.3% 418,500
$ 347,500
$ 20.4% 419,800
$ -0.3%
Average Price 1,389,477
$ 1,094,827
$ 26.9% 1,320,844
$ 5.2% 662,130
$ 577,846
$ 14.6% 623,720
$ 6.2% 415,566
$ 366,763
$ 13.3% 416,137
$ -0.1%
Detached Townhouse Apartment
Surrey - Cloverdale Feb-21 Feb-20 % change Jan-21 % change Feb-21 Feb-20 % change Jan-21 % change Feb-21 Feb-20 % change Jan-21 % change
Sales 93 40 132.5% 45 106.7% 93 36 158.3% 41 126.8% 35 20 75.0% 21 66.7%
New Listings 123 74 66.2% 68 80.9% 79 54 46.3% 64 23.4% 27 24 12.5% 39 -30.8%
Active Listings 75 108 -30.6% 55 36.4% 44 81 -45.7% 59 -25.4% 27 26 3.8% 38 -28.9%
Benchmark Price 1,245,900
$ 1,025,900
$ 21.4% 1,151,800
$ 8.2% 658,500
$ 571,100
$ 15.3% 631,400
$ 4.3% 489,800
$ 465,200
$ 5.3% 472,300
$ 3.7%
Median Price 1,309,000
$ 970,000
$ 34.9% 1,175,000
$ 11.4% 674,000
$ 571,000
$ 18.0% 675,000
$ -0.1% 420,100
$ 390,000
$ 7.7% 428,999
$ -2.1%
Average Price 1,354,248
$ 1,011,147
$ 33.9% 1,271,259
$ 6.5% 661,258
$ 559,952
$ 18.1% 668,603
$ -1.1% 444,682
$ 401,625
$ 10.7% 444,504
$ 0.0%
Detached Townhouse Apartment
Surrey - North Feb-21 Feb-20 % change Jan-21 % change Feb-21 Feb-20 % change Jan-21 % change Feb-21 Feb-20 % change Jan-21 % change
Sales 119 52 128.8% 75 58.7% 47 24 95.8% 26 80.8% 163 89 83.1% 102 59.8%
New Listings 175 91 92.3% 103 69.9% 54 37 45.9% 45 20.0% 186 169 10.1% 169 10.1%
Active Listings 204 229 -10.9% 184 10.9% 50 77 -35.1% 52 -3.8% 283 293 -3.4% 306 -7.5%
Benchmark Price 1,143,200
$ 951,600
$ 20.1% 1,086,100
$ 5.3% 583,100
$ 562,100
$ 3.7% 578,900
$ 0.7% 433,000
$ 407,400
$ 6.3% 418,100
$ 3.6%
Median Price 1,232,000
$ 1,025,000
$ 20.2% 1,200,100
$ 2.7% 562,000
$ 546,500
$ 2.8% 542,000
$ 3.7% 425,500
$ 398,900
$ 6.7% 404,500
$ 5.2%
Average Price 1,297,438
$ 1,108,025
$ 17.1% 1,272,807
$ 1.9% 580,152
$ 549,028
$ 5.7% 547,655
$ 5.9% 425,360
$ 384,826
$ 10.5% 408,386
$ 4.2%
Source: Fraser Valley Real Estate Board MLS® Summary Page 3 of 3
MLS® Home Price Index - Fraser Valley
February 2021
BENCHMARK INDEX ONE MONTH THREE MONTH SIX MONTH ONE YEAR THREE YEAR FIVE YEAR TEN YEAR
PRICE (HPI) % CHANGE % CHANGE % CHANGE % CHANGE % CHANGE % CHANGE % CHANGE
RESIDENTIAL LOWER MAINLAND 1,034,000 289.7 3.1 4.9 5.9 8.9 4.5 44.0 95.4
COMBINED FRASER VALLEY BOARD 935,400 298.4 3.9 6.5 8.5 12.3 10.8 68.4 115.5
NORTH DELTA 1,017,900 316.3 4.8 7.0 10.6 12.7 9.6 49.8 119.5
NORTH SURREY 846,300 352.1 3.6 5.5 5.5 8.7 11.0 82.6 133.0
SURREY 932,400 301.4 3.8 6.1 7.8 11.6 10.8 69.0 117.8
CLOVERDALE 1,005,300 299.4 5.8 9.4 11.4 15.0 12.4 73.1 122.3
SOUTH SURREY & WHITE ROCK 1,041,800 263.1 3.7 5.0 8.3 13.8 1.9 38.8 90.2
LANGLEY 916,100 286.0 3.3 6.4 8.2 12.6 10.7 70.4 111.2
ABBOTSFORD 704,400 294.9 4.5 7.7 10.0 14.0 15.0 86.1 119.4
MISSION 792,000 299.7 3.1 10.1 16.1 20.9 23.8 87.9 125.3
DETACHED LOWER MAINLAND 1,428,300 304.6 3.9 7.3 11.1 16.5 8.5 36.5 103.8
FRASER VALLEY BOARD 1,163,400 310.7 5.1 9.6 14.1 19.9 16.8 62.1 128.6
NORTH DELTA 1,068,500 311.7 5.7 8.6 14.3 16.6 13.1 43.1 118.0
NORTH SURREY 1,143,200 328.1 5.3 10.4 14.0 20.1 17.6 60.7 132.5
SURREY 1,190,300 317.1 4.4 8.3 11.9 17.6 16.8 65.2 131.5
CLOVERDALE 1,245,900 313.8 8.2 12.3 16.9 21.4 20.2 70.4 136.8
SOUTH SURREY & WHITE ROCK 1,546,700 295.3 4.8 6.8 10.9 18.5 4.3 34.1 107.1
LANGLEY 1,210,600 303.3 4.1 8.6 13.5 20.8 17.7 67.5 133.7
ABBOTSFORD 988,800 315.0 6.7 12.2 16.4 21.9 23.1 84.5 137.0
MISSION 822,800 305.2 3.5 11.4 18.1 23.1 26.0 89.0 132.4
TOWNHOUSE LOWER MAINLAND 734,700 266.5 3.1 4.1 5.3 8.6 6.0 54.6 85.2
FRASER VALLEY BOARD 600,300 263.8 3.4 5.3 6.5 10.1 8.5 72.9 95.1
NORTH DELTA 592,100 287.5 2.7 1.8 2.6 3.1 1.9 57.0 102.2
NORTH SURREY 583,100 305.4 0.7 4.1 2.6 3.7 4.1 87.5 110.5
SURREY 610,100 268.5 3.3 4.1 5.5 8.3 7.2 77.8 102.6
CLOVERDALE 658,500 267.5 4.3 9.0 9.4 15.3 10.7 73.3 98.6
SOUTH SURREY & WHITE ROCK 718,100 225.2 5.4 6.4 7.1 16.6 9.5 49.2 70.1
LANGLEY 611,600 266.0 3.1 5.6 6.2 9.4 8.8 76.4 96.8
ABBOTSFORD 501,900 271.2 2.9 4.4 7.9 9.8 12.7 83.0 98.5
MISSION 495,300 267.5 2.6 3.9 6.4 9.7 10.7 82.5 93.1
APARTMENT LOWER MAINLAND 671,800 287.8 2.5 3.2 2.1 3.2 0.9 55.9 92.9
FRASER VALLEY BOARD 450,900 314.8 2.5 3.5 3.1 5.3 3.6 97.4 109.3
NORTH DELTA 397,200 376.5 2.3 4.2 2.7 5.3 0.8 120.1 122.1
NORTH SURREY 433,000 375.9 3.6 4.2 3.8 6.3 5.6 102.0 126.0
SURREY 447,400 353.5 3.3 4.6 3.4 6.2 4.7 104.1 114.5
CLOVERDALE 489,800 338.4 3.7 4.4 5.0 5.3 0.4 95.6 125.3
SOUTH SURREY & WHITE ROCK 512,400 257.9 0.5 1.0 4.8 5.5 -1.3 68.5 90.5
LANGLEY 415,600 285.4 2.3 4.4 3.7 5.9 2.9 88.8 89.1
ABBOTSFORD 335,700 285.4 2.6 3.8 3.3 7.1 6.3 113.0 109.4
MISSION 372,800 292.4 -1.3 3.2 7.1 9.8 18.2 104.6 90.4
© Fraser Valley Real Estate Board
All indices equal 100 in January, 2005. An index of 120 indicates a 20% increase in price since January, 2005.
Lower Mainland combines data across the Fraser Valley and Greater Vancouver real estate board areas.
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Sales, Listings & Active Inventory, All Types, Fraser Valley
Actives Listings Sales
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Sales‐to‐Active Listings Ratio, All Types, Fraser Valley
According to BCREA, a balanced market in the Lower Mainland ranges between 12% - 20%
This graph includes all Residential and Commercial property types
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February: 68%
© Fraser Valley Real Estate Board
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MLS® Home Price Index, Fraser Valley
Detached Townhouse Apartment
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 $600,000
 $700,000
 $800,000
 $900,000
 $1,000,000
 $1,100,000
 $1,200,000
 $1,300,000 2005
2006
2007
2008
2009
2010
2011
2012
2013
2014
2015
2016
2017
2018
2019
2020
2021
MLS® Home Price Index Benchmark Prices, Fraser Valley
Detached Townhouse Apartment
$0
$200,000
$400,000
$600,000
$800,000
$1,000,000
$1,200,000
$1,400,000
$1,600,000
1979
1980
1981
1982
1983
1984
1985
1986
1987
1988
1989
1990
1991
1992
1993
1994
1995
1996
1997
1998
1999
2000
2001
2002
2003
2004
2005
2006
2007
2008
2009
2010
2011
2012
2013
2014
2015
2016
2017
2018
2019
2020
2021
Average Price, Residential Detached, all Fraser Valley
 $‐
 $100,000
 $200,000
 $300,000
 $400,000
 $500,000
 $600,000
 $700,000
 $800,000
 $900,000
 $1,000,000
 ‐
 5,000
 10,000
 15,000
 20,000
 25,000
 30,000
 35,000
 40,000
1990
1991
1992
1993
1994
1995
1996
1997
1998
1999
2000
2001
2002
2003
2004
2005
2006
2007
2008
2009
2010
2011
2012
2013
2014
2015
2016
2017
2018
2019
2020
Annual Sales, New Listings, Average Price 
All Property Types, Fraser Valley
 Sales  New Listings  Average Price

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Fraser Valley Real Estate Board Stats Package Feb 2021

  • 2. News Release Fraser Valley Real Estate Board Contact Laurie Dawson, Communications Specialist    laurie.dawson@fvreb.bc.ca  Fraser Valley Real Estate Board    Telephone 604.930.7657      Fax 604.930.7623      www.fvreb.bc.ca      http://fvreb.bc.ca/statistics/eStats‐2021‐02.html   For Immediate Release:  March 2, 2021    Another month, another record for property sales in the  Fraser Valley   SURREY, BC – For the sixth consecutive month, Fraser Valley’s real estate market experienced property sales at  levels never seen before in the 100‐year history of the Fraser Valley Real Estate Board (FVREB).     In February, the FVREB processed a total of 2,815 sales on its Multiple Listing Service® (MLS®), an increase of 108  per cent compared to February 2020 and 64 per cent more than were processed in January 2021. To provide a  historical perspective, sales in February were 88 per cent above the 10‐year average for that month; and 18 per  cent higher than the previous record of 2,387 sales in February 2016.        Chris Shields, President of the Board said of this month’s record numbers, “This is new territory for us. We have  never seen such consistent and persistent demand for housing in the Fraser Valley.     “What’s fueling the demand is the combination of record‐low interest rates and the response to the pandemic. It’s  not something that could have been predicted and it has created a very complex market for buyers that requires  the knowledge and expertise of a professional. For family‐sized homes, prices climbed 3 to 5 per cent in February  alone and sold on average in three weeks. We understand the stress and frustration with the market currently and  we’re here to help guide and protect home buyers.”     The Board received 3,265 new listings in February, an increase of 28 per cent compared to February of last year,  placing it second highest for February for new listings in the last decade. The total active inventory for February  was 4,120, down 28 per cent from last year’s 5,741 active listings, and the lowest ever for the month.    Baldev Gill, Chief Executive Officer of the Board, added, “We know more people are choosing to move to the  Fraser Valley right now because they’re seeking more usable space, a better quality of life, and they recognize that  their housing dollar goes further. The challenge is selection. We anticipate as the vaccination roll‐out accelerates,  confidence to list will increase and we’ll see inventory return to more normal levels. In the meantime, REALTORS®  will continue to ensure consumer safety is at the forefront of all home viewings and transactions.”    Across Fraser Valley, in February, the average number of days to sell a single‐family detached home and a  townhome was 21 days. Apartments took on average 35 days to sell.      MLS® HPI Benchmark Price Activity     Single Family Detached: At $1,163,400, the Benchmark price for an FVREB single‐family detached home  increased 5.1 per cent compared to January 2021 and increased 19.9 per cent compared to February 2020.   Townhomes: At $600,300, the Benchmark price for an FVREB townhome increased 3.4 per cent compared to  January 2021 and increased 10.1 per cent compared to February 2020.   Apartments: At $450,900, the Benchmark price for an FVREB apartment/condo increased 2.5 per cent  compared to January 2021 and increased 5.3 per cent compared to February 2020.    —30 —    The Fraser Valley Real Estate Board is an association of 3,840 real estate professionals who live and work in the BC communities of  North Delta, Surrey, White Rock, Langley, Abbotsford, and Mission. The FVREB will mark its 100‐year anniversary in 2021. 
  • 3. MLS® Summary - Fraser Valley February 2021 All Property Types All Property Types Grand Totals Feb-21 Feb-20 % change Jan-21 % change Grand Totals - year to date 2021 2020 % change Sales 2,815 1,352 108.2% 1,718 63.9% Sales - year to date 4,530 2,326 94.8% New Listings 3,265 2,557 27.7% 2,784 17.3% New Listings - year to date 6,049 4,773 26.7% Active Listings 4,120 5,741 -28.2% 4,210 -2.1% Average Price 954,222 $ 761,494 $ 25.3% 948,610 $ 0.6% Detached Townhouse Apartment All Areas Combined Feb-21 Feb-20 % change Jan-21 % change Feb-21 Feb-20 % change Jan-21 % change Feb-21 Feb-20 % change Jan-21 % change Sales 1,084 534 103.0% 678 59.9% 788 341 131.1% 461 70.9% 667 315 111.7% 372 79.3% New Listings 1,390 945 47.1% 981 41.7% 720 556 29.5% 650 10.8% 756 630 20.0% 770 -1.8% Active Listings 1,303 1,903 -31.5% 1,207 8.0% 531 923 -42.5% 683 -22.3% 1,179 1,179 0.0% 1,283 -8.1% Benchmark Price 1,163,400 $ 970,200 $ 19.9% 1,106,500 $ 5.1% 600,300 $ 545,300 $ 10.1% 580,800 $ 3.4% 450,900 $ 428,400 $ 5.3% 439,800 $ 2.5% Median Price 1,268,000 $ 981,000 $ 29.3% 1,200,000 $ 5.7% 659,000 $ 579,900 $ 13.6% 640,000 $ 3.0% 430,000 $ 385,900 $ 11.4% 415,000 $ 3.6% Average Price 1,356,006 $ 1,062,878 $ 27.6% 1,280,065 $ 5.9% 669,099 $ 587,031 $ 14.0% 650,722 $ 2.8% 443,698 $ 401,036 $ 10.6% 429,863 $ 3.2% Detached Townhouse Apartment Abbotsford Feb-21 Feb-20 % change Jan-21 % change Feb-21 Feb-20 % change Jan-21 % change Feb-21 Feb-20 % change Jan-21 % change Sales 177 77 129.9% 114 55.3% 99 33 200.0% 53 86.8% 99 39 153.8% 48 106.3% New Listings 219 144 52.1% 147 49.0% 84 77 9.1% 89 -5.6% 111 111 0.0% 119 -6.7% Active Listings 154 256 -39.8% 153 0.7% 72 126 -42.9% 95 -24.2% 174 214 -18.7% 183 -4.9% Benchmark Price 988,800 $ 811,500 $ 21.8% 927,000 $ 6.7% 501,900 $ 457,300 $ 9.8% 487,800 $ 2.9% 335,700 $ 313,300 $ 7.1% 327,300 $ 2.6% Median Price 1,040,000 $ 766,000 $ 35.8% 950,850 $ 9.4% 569,000 $ 489,900 $ 16.1% 545,000 $ 4.4% 335,000 $ 290,000 $ 15.5% 305,500 $ 9.7% Average Price 1,081,973 $ 803,986 $ 34.6% 1,009,782 $ 7.1% 554,261 $ 487,551 $ 13.7% 544,522 $ 1.8% 342,194 $ 291,405 $ 17.4% 305,064 $ 12.2% Detached Townhouse Apartment Mission Feb-21 Feb-20 % change Jan-21 % change Feb-21 Feb-20 % change Jan-21 % change Feb-21 Feb-20 % change Jan-21 % change Sales 80 35 128.6% 41 95.1% 5 8 -37.5% 5 0.0% 8 2 300.0% 7 14.3% New Listings 77 51 51.0% 62 24.2% 2 7 -71.4% 4 -50.0% 6 14 -57.1% 8 -25.0% Active Listings 53 147 -63.9% 68 -22.1% 5 29 -82.8% 8 -37.5% 5 20 -75.0% 8 -37.5% Benchmark Price 822,800 $ 668,300 $ 23.1% 795,300 $ 3.5% 495,300 $ 451,400 $ 9.7% 482,700 $ 2.6% 372,800 $ 339,700 $ 9.7% 377,700 $ -1.3% Median Price 905,250 $ 735,000 $ 23.2% 850,000 $ 6.5% 370,000 $ 508,450 $ -27.2% 410,000 $ -9.8% 316,000 $ 284,000 $ 11.3% 322,000 $ -1.9% Average Price 942,322 $ 758,666 $ 24.2% 870,765 $ 8.2% 442,380 $ 487,837 $ -9.3% 382,700 $ 15.6% 318,625 $ 284,000 $ 12.2% 370,071 $ -13.9% Source: Fraser Valley Real Estate Board MLS® Summary Page 1 of 3
  • 4. Detached Townhouse Apartment White Rock / South Surrey Feb-21 Feb-20 % change Jan-21 % change Feb-21 Feb-20 % change Jan-21 % change Feb-21 Feb-20 % change Jan-21 % change Sales 206 72 186.1% 116 77.6% 134 50 168.0% 93 44.1% 128 63 103.2% 60 113.3% New Listings 263 175 50.3% 210 25.2% 124 99 25.3% 128 -3.1% 131 114 14.9% 149 -12.1% Active Listings 325 443 -26.6% 311 4.5% 77 189 -59.3% 101 -23.8% 238 234 1.7% 279 -14.7% Benchmark Price 1,546,700 $ 1,305,200 $ 18.5% 1,476,500 $ 4.8% 718,100 $ 615,800 $ 16.6% 681,500 $ 5.4% 512,400 $ 485,600 $ 5.5% 510,000 $ 0.5% Median Price 1,534,000 $ 1,289,100 $ 19.0% 1,490,357 $ 2.9% 766,100 $ 689,950 $ 11.0% 700,500 $ 9.4% 490,000 $ 446,000 $ 9.9% 475,500 $ 3.0% Average Price 1,730,133 $ 1,437,633 $ 20.3% 1,701,500 $ 1.7% 790,381 $ 713,103 $ 10.8% 772,073 $ 2.4% 546,300 $ 499,752 $ 9.3% 569,909 $ -4.1% Detached Townhouse Apartment Langley Feb-21 Feb-20 % change Jan-21 % change Feb-21 Feb-20 % change Jan-21 % change Feb-21 Feb-20 % change Jan-21 % change Sales 122 91 34.1% 69 76.8% 206 85 142.4% 100 106.0% 172 74 132.4% 99 73.7% New Listings 165 141 17.0% 108 52.8% 191 117 63.2% 141 35.5% 214 133 60.9% 198 8.1% Active Listings 160 234 -31.6% 136 17.6% 119 136 -12.5% 154 -22.7% 300 291 3.1% 298 0.7% Benchmark Price 1,210,600 $ 1,002,200 $ 20.8% 1,163,100 $ 4.1% 611,600 $ 559,200 $ 9.4% 593,200 $ 3.1% 415,600 $ 392,400 $ 5.9% 406,100 $ 2.3% Median Price 1,290,000 $ 1,029,000 $ 25.4% 1,170,800 $ 10.2% 650,000 $ 589,000 $ 10.4% 650,112 $ 0.0% 463,450 $ 373,500 $ 24.1% 430,000 $ 7.8% Average Price 1,411,704 $ 1,076,370 $ 31.2% 1,246,214 $ 13.3% 676,872 $ 589,383 $ 14.8% 663,208 $ 2.1% 458,077 $ 407,821 $ 12.3% 431,545 $ 6.1% Detached Townhouse Apartment Delta - North Feb-21 Feb-20 % change Jan-21 % change Feb-21 Feb-20 % change Jan-21 % change Feb-21 Feb-20 % change Jan-21 % change Sales 62 37 67.6% 48 29.2% 12 7 71.4% 12 0.0% 12 3 300.0% 6 100.0% New Listings 97 55 76.4% 65 49.2% 11 13 -15.4% 8 38% 29 15 93.3% 19 52.6% Active Listings 99 121 -18.2% 75 32.0% 11 27 -59.3% 13 -15.4% 44 30 46.7% 36 22.2% Benchmark Price 1,068,500 $ 916,600 $ 16.6% 1,010,900 $ 5.7% 592,100 $ 574,400 $ 3.1% 576,600 $ 2.7% 397,200 $ 377,200 $ 5.3% 388,300 $ 2.3% Median Price 1,243,500 $ 931,000 $ 33.6% 1,150,000 $ 8.1% 750,000 $ 640,000 $ 17.2% 665,000 $ 12.8% 429,750 $ 455,000 $ -5.5% 448,500 $ -4.2% Average Price 1,313,032 $ 1,007,214 $ 30.4% 1,176,960 $ 11.6% 743,875 $ 638,464 $ 16.5% 643,916 $ 15.5% 427,400 $ 426,433 $ 0.2% 450,000 $ -5.0% Source: Fraser Valley Real Estate Board MLS® Summary Page 2 of 3
  • 5. Detached Townhouse Apartment City of Surrey - Combined* Feb-21 Feb-20 % change Jan-21 % change Feb-21 Feb-20 % change Jan-21 % change Feb-21 Feb-20 % change Jan-21 % change Sales 596 283 110.6% 386 54.4% 457 208 119.7% 285 60.4% 327 172 90.1% 182 79.7% Benchmark Price 1,261,400 $ 1,061,000 $ 18.9% 1,198,900 $ 5.2% 624,300 $ 564,000 $ 10.7% 602,500 $ 3.6% 416,500 $ 394,800 $ 5.5% 403,400 $ 3.2% Average Price 1,460,184 $ 1,151,198 $ 26.8% 1,389,647 $ 5.1% 690,750 $ 603,938 $ 14.4% 670,044 $ 3.1% 447,163 $ 400,853 $ 11.6% 424,401 $ 5.4% *North Surrey, Central Surrey, Cloverdale and South Surrey, excl. White Rock Detached Townhouse Apartment Surrey - Central Feb-21 Feb-20 % change Jan-21 % change Feb-21 Feb-20 % change Jan-21 % change Feb-21 Feb-20 % change Jan-21 % change Sales 225 130 73.1% 170 32.4% 192 98 95.9% 131 46.6% 50 25 100.0% 29 72.4% New Listings 271 214 26.6% 218 24.3% 175 152 15.1% 171 2.3% 52 50 4.0% 69 -24.6% Active Listings 233 363 -35.8% 225 3.6% 153 258 -40.7% 201 -23.9% 108 71 52.1% 135 -20.0% Benchmark Price 1,190,300 $ 1,012,400 $ 17.6% 1,140,400 $ 4.4% 610,100 $ 563,300 $ 8.3% 590,500 $ 3.3% 447,400 $ 421,200 $ 6.2% 432,900 $ 3.3% Median Price 1,302,000 $ 1,056,750 $ 23.2% 1,272,500 $ 2.3% 669,500 $ 575,000 $ 16.4% 630,000 $ 6.3% 418,500 $ 347,500 $ 20.4% 419,800 $ -0.3% Average Price 1,389,477 $ 1,094,827 $ 26.9% 1,320,844 $ 5.2% 662,130 $ 577,846 $ 14.6% 623,720 $ 6.2% 415,566 $ 366,763 $ 13.3% 416,137 $ -0.1% Detached Townhouse Apartment Surrey - Cloverdale Feb-21 Feb-20 % change Jan-21 % change Feb-21 Feb-20 % change Jan-21 % change Feb-21 Feb-20 % change Jan-21 % change Sales 93 40 132.5% 45 106.7% 93 36 158.3% 41 126.8% 35 20 75.0% 21 66.7% New Listings 123 74 66.2% 68 80.9% 79 54 46.3% 64 23.4% 27 24 12.5% 39 -30.8% Active Listings 75 108 -30.6% 55 36.4% 44 81 -45.7% 59 -25.4% 27 26 3.8% 38 -28.9% Benchmark Price 1,245,900 $ 1,025,900 $ 21.4% 1,151,800 $ 8.2% 658,500 $ 571,100 $ 15.3% 631,400 $ 4.3% 489,800 $ 465,200 $ 5.3% 472,300 $ 3.7% Median Price 1,309,000 $ 970,000 $ 34.9% 1,175,000 $ 11.4% 674,000 $ 571,000 $ 18.0% 675,000 $ -0.1% 420,100 $ 390,000 $ 7.7% 428,999 $ -2.1% Average Price 1,354,248 $ 1,011,147 $ 33.9% 1,271,259 $ 6.5% 661,258 $ 559,952 $ 18.1% 668,603 $ -1.1% 444,682 $ 401,625 $ 10.7% 444,504 $ 0.0% Detached Townhouse Apartment Surrey - North Feb-21 Feb-20 % change Jan-21 % change Feb-21 Feb-20 % change Jan-21 % change Feb-21 Feb-20 % change Jan-21 % change Sales 119 52 128.8% 75 58.7% 47 24 95.8% 26 80.8% 163 89 83.1% 102 59.8% New Listings 175 91 92.3% 103 69.9% 54 37 45.9% 45 20.0% 186 169 10.1% 169 10.1% Active Listings 204 229 -10.9% 184 10.9% 50 77 -35.1% 52 -3.8% 283 293 -3.4% 306 -7.5% Benchmark Price 1,143,200 $ 951,600 $ 20.1% 1,086,100 $ 5.3% 583,100 $ 562,100 $ 3.7% 578,900 $ 0.7% 433,000 $ 407,400 $ 6.3% 418,100 $ 3.6% Median Price 1,232,000 $ 1,025,000 $ 20.2% 1,200,100 $ 2.7% 562,000 $ 546,500 $ 2.8% 542,000 $ 3.7% 425,500 $ 398,900 $ 6.7% 404,500 $ 5.2% Average Price 1,297,438 $ 1,108,025 $ 17.1% 1,272,807 $ 1.9% 580,152 $ 549,028 $ 5.7% 547,655 $ 5.9% 425,360 $ 384,826 $ 10.5% 408,386 $ 4.2% Source: Fraser Valley Real Estate Board MLS® Summary Page 3 of 3
  • 6. MLS® Home Price Index - Fraser Valley February 2021 BENCHMARK INDEX ONE MONTH THREE MONTH SIX MONTH ONE YEAR THREE YEAR FIVE YEAR TEN YEAR PRICE (HPI) % CHANGE % CHANGE % CHANGE % CHANGE % CHANGE % CHANGE % CHANGE RESIDENTIAL LOWER MAINLAND 1,034,000 289.7 3.1 4.9 5.9 8.9 4.5 44.0 95.4 COMBINED FRASER VALLEY BOARD 935,400 298.4 3.9 6.5 8.5 12.3 10.8 68.4 115.5 NORTH DELTA 1,017,900 316.3 4.8 7.0 10.6 12.7 9.6 49.8 119.5 NORTH SURREY 846,300 352.1 3.6 5.5 5.5 8.7 11.0 82.6 133.0 SURREY 932,400 301.4 3.8 6.1 7.8 11.6 10.8 69.0 117.8 CLOVERDALE 1,005,300 299.4 5.8 9.4 11.4 15.0 12.4 73.1 122.3 SOUTH SURREY & WHITE ROCK 1,041,800 263.1 3.7 5.0 8.3 13.8 1.9 38.8 90.2 LANGLEY 916,100 286.0 3.3 6.4 8.2 12.6 10.7 70.4 111.2 ABBOTSFORD 704,400 294.9 4.5 7.7 10.0 14.0 15.0 86.1 119.4 MISSION 792,000 299.7 3.1 10.1 16.1 20.9 23.8 87.9 125.3 DETACHED LOWER MAINLAND 1,428,300 304.6 3.9 7.3 11.1 16.5 8.5 36.5 103.8 FRASER VALLEY BOARD 1,163,400 310.7 5.1 9.6 14.1 19.9 16.8 62.1 128.6 NORTH DELTA 1,068,500 311.7 5.7 8.6 14.3 16.6 13.1 43.1 118.0 NORTH SURREY 1,143,200 328.1 5.3 10.4 14.0 20.1 17.6 60.7 132.5 SURREY 1,190,300 317.1 4.4 8.3 11.9 17.6 16.8 65.2 131.5 CLOVERDALE 1,245,900 313.8 8.2 12.3 16.9 21.4 20.2 70.4 136.8 SOUTH SURREY & WHITE ROCK 1,546,700 295.3 4.8 6.8 10.9 18.5 4.3 34.1 107.1 LANGLEY 1,210,600 303.3 4.1 8.6 13.5 20.8 17.7 67.5 133.7 ABBOTSFORD 988,800 315.0 6.7 12.2 16.4 21.9 23.1 84.5 137.0 MISSION 822,800 305.2 3.5 11.4 18.1 23.1 26.0 89.0 132.4 TOWNHOUSE LOWER MAINLAND 734,700 266.5 3.1 4.1 5.3 8.6 6.0 54.6 85.2 FRASER VALLEY BOARD 600,300 263.8 3.4 5.3 6.5 10.1 8.5 72.9 95.1 NORTH DELTA 592,100 287.5 2.7 1.8 2.6 3.1 1.9 57.0 102.2 NORTH SURREY 583,100 305.4 0.7 4.1 2.6 3.7 4.1 87.5 110.5 SURREY 610,100 268.5 3.3 4.1 5.5 8.3 7.2 77.8 102.6 CLOVERDALE 658,500 267.5 4.3 9.0 9.4 15.3 10.7 73.3 98.6 SOUTH SURREY & WHITE ROCK 718,100 225.2 5.4 6.4 7.1 16.6 9.5 49.2 70.1 LANGLEY 611,600 266.0 3.1 5.6 6.2 9.4 8.8 76.4 96.8 ABBOTSFORD 501,900 271.2 2.9 4.4 7.9 9.8 12.7 83.0 98.5 MISSION 495,300 267.5 2.6 3.9 6.4 9.7 10.7 82.5 93.1 APARTMENT LOWER MAINLAND 671,800 287.8 2.5 3.2 2.1 3.2 0.9 55.9 92.9 FRASER VALLEY BOARD 450,900 314.8 2.5 3.5 3.1 5.3 3.6 97.4 109.3 NORTH DELTA 397,200 376.5 2.3 4.2 2.7 5.3 0.8 120.1 122.1 NORTH SURREY 433,000 375.9 3.6 4.2 3.8 6.3 5.6 102.0 126.0 SURREY 447,400 353.5 3.3 4.6 3.4 6.2 4.7 104.1 114.5 CLOVERDALE 489,800 338.4 3.7 4.4 5.0 5.3 0.4 95.6 125.3 SOUTH SURREY & WHITE ROCK 512,400 257.9 0.5 1.0 4.8 5.5 -1.3 68.5 90.5 LANGLEY 415,600 285.4 2.3 4.4 3.7 5.9 2.9 88.8 89.1 ABBOTSFORD 335,700 285.4 2.6 3.8 3.3 7.1 6.3 113.0 109.4 MISSION 372,800 292.4 -1.3 3.2 7.1 9.8 18.2 104.6 90.4 © Fraser Valley Real Estate Board All indices equal 100 in January, 2005. An index of 120 indicates a 20% increase in price since January, 2005. Lower Mainland combines data across the Fraser Valley and Greater Vancouver real estate board areas.
  • 8. 0 10 20 30 40 50 60 70 80 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018 2019 2020 2021 Ratio Sales‐to‐Active Listings Ratio, All Types, Fraser Valley According to BCREA, a balanced market in the Lower Mainland ranges between 12% - 20% This graph includes all Residential and Commercial property types Sellers  Market Balanced  Market Buyers  Market February: 68% © Fraser Valley Real Estate Board