Friday, May 8, 2020
By Thorne Maisey Bongers Real Estate Group

April 2020 Fraser Valley Real Estate Stats Recap

April 2020 Overview of the Fraser Valley Real Estate Board Stats

With the required protocols in place due to the pandemic, there was a decline in real estate activity in April due to COVID-19. The Fraser Valley Real Estate Board reported a 52% sales decrease compared to March 2020 and a 50% decrease compared to April of last year.

Here are some other highlights from the April 2020 report.

Detached, Townhouse and Apartment Sales Decrease
A total of 266 detached homes were sold in April 2020, a 45.6% decrease compared to April 2019. Townhomes had a 47.2% decrease compared to April of last year with only 200 sold townhomes. Apartments had the largest decrease in sales with a total of 150 sold, which is a 54.7% decrease from March 2020 and a 59.9% decrease from April 2020.

Median Prices Have Decreased
A positive outcome for those on the market and those thinking about buying; median prices have decreased in all housing areas! Compared to last month, detached homes saw a median price decrease of 3%, townhomes down 2.2%, and apartments with a decrease of 3.9%.

Realtors deemed “Non-Health Essential Service”
As Realtors, the number one priority is the health and safety of our clients. There will always be a need for homes, whether you are buying or selling. However, necessary precautions are in place to mitigate the spread of COVID-19, such as virtual tours, private showings with a limited number of people, and inspections being done from a photo/video feed.

With median rates decreasing, house hunting has never been better than now!! 🏡

Call us to take advantage of a more affordable market!

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