Record-shattering December for real estate sales in the Fraser Valley

For anyone who thought the COVID-19 pandemic would lead to slower home sales in 2020, that was not the case in the Fraser Valley.

The Fraser Valley Real Estate Board says last month was the best December ever, with 2,086 home sales.

Total annual sales in the region finished 12.4 per cent above the 10-year average and 81 per cent above normal for the month due to demand from the second half of 2020, the organization said in a release.

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Numbers released by the board showed new listings in December were the second-highest on record at 1,502 and the total sales volume for the year was just under 20,000 in the Fraser Valley, which is still up from 2019 and the fourth-highest for annual sales since 2011.

It seems that detached homes are still the most desired property, with those sales almost 42 per cent higher than in 2019.

“The pandemic upended everything in 2020 and how the real estate market responded to it was nothing short of remarkable,” Chris Shields, president of the Fraser Valley Real Estate Board, said in a release.

“Typical seasonal cycles did not apply, how we conduct business had to change to keep the public safe; and most unexpected, has been the unwavering demand for family-sized homes in our region and so far, there is no sign of it slowing down.”

Despite these numbers, the region’s overall inventory is 28 per cent below normal, according to the board, and it could be a good time for anyone thinking of selling their home who had previously held off due to the pandemic.