Re/Max Oceanview Realty Weekly Report | March 1-7, 2022

The real estate statistics for February are in. There were 49 sales of detached housing. This is

a large increase over January’s total of 36, but well off the 71 sales in February, 2021. The

Benchmark Price – that is, the price of an average home in an average area – increased a

staggering 8.2% to $973,900. This is the largest single month increase on record and another

indicator of the incredible ongoing demand for local real estate. With attached housing (condo’s

and apartments), there were 18 sales. This is up from January, but 66% down from February of

last year. The average Benchmark price for apartments was $567,400, while townhomes

jumped to $712,400. As for vacant land, there have been 31 sales year to date, down from 50

this time last year. The Benchmark price isn’t available for vacant land, but we feel prices are

still rising. How can prices rise while overall sales decrease? High demand coupled with low

inventory means upward pressure on prices. Stay informed - Call Us FIRST!

Click here to view full report including the latest sales and listing stats

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.