On the heels of a surge in sales in October, home sales in the Fraser Valley slowed in November as buyers and sellers start to settle into holiday mode.

The Board recorded 1,136 sales in November, down 15 per cent from October and 20 per cent below the 10-year seasonal average. Sales are, however, 28 per cent above November 2023 sales.

“Buying and selling activity is typically quiet at this time of year,” said Jeff Chadha, Chair of the Fraser Valley Real Estate Board. “But it’s worth noting that November 2024 sales are higher than they’ve been compared to the past two Novembers — a sign that overall activity is picking up in the Fraser Valley and with it, growing buyer confidence.”

Fewer sellers listed their homes in November, with new listings down 26 per cent month-over-month, but still 17 per cent higher than the same month last year. With fewer homes coming to the market in November, overall inventory dipped eight per cent to 8,125 active listings.

Sales-to-Active Ratio

The sales-to-active listings ratio decreased one per cent in November to an overall ratio of 14 per cent, down one per cent from October. The market is considered balanced when the ratio is between 12 and 20 per cent.

Detached: 14% (down 1% from October)
Townhouse: 20% (down 4% from October)
Apartment: 17% (down 1% from October)