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Fraser Valley Market Update

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Monthly Statistics Package Fraser Valley Real Estate Board April 2024

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News Release Fraser Valley Real Estate Board For Immediate Release May 2 2024 Modest increase in April home sales in the Fraser Valley takes lead from cooler spring weather SURREY BC Supply of available homes in the Fraser Valley market continued to build last month however buyers remained relatively hesitant leading to a cooler resale market in April The Fraser Valley Real Estate Board recorded 1 471 transactions on its Multiple Listings Service MLS in April up 5 per cent from March but off by 5 per cent compared to April 2023 While sales were the third lowest recorded for an April in the last decade inventory continues to build reaching levels not seen since September 2020 Active listings were 7 313 up by 18 per cent over last month and 17 per cent above the 10 year average We are seeing a relatively calm and balanced market right now said Jeff Chadha Chair of the Fraser Valley Real Estate Board Which means buyers have time to shop around and purchase a home without the pressure of a few years ago and while prices are holding fairly steady across all property types New listings helped bolster overall inventory increasing 33 per cent in April to 3 976 With a sales to active listings ratio of 20 per cent overall market conditions are balanced The market is considered balanced when the ratio is between 12 per cent and 20 per cent There is a lot of caution in the market right now said FVREB CEO Baldev Gill Buyers are hesitant to purchase a home until the Bank of Canada lowers its rate however we encourage anyone looking to get into the market to talk to their REALTOR and their financial professional about what rates are available today The average number of days homes are spending on the market continues to decline with single family detached homes spending 23 days on the market down from 27 days in March apartments spending 23 days on the market down from 26 days in March and townhomes moving more quickly at 19 days down from 20 days on the market in March Overall Benchmark prices edged up again in April by 0 5 per cent from March and up 1 5 per cent over April 2023 MLS HPI Benchmark Price Activity Single Family Detached At 1 532 700 the Benchmark price for an FVREB single family detached home increased 1 0 per cent compared to March 2024 and increased 5 3 per cent compared to April 2023 Townhomes At 854 700 the Benchmark price for an FVREB townhome increased 0 9 per cent compared to March 2024 and increased 4 9 per cent compared to April 2023 Apartments At 561 900 the Benchmark price for an FVREB apartment condo increased 1 2 per cent compared to March 2024 and increased 5 7 per cent compared to April 2023 30 The Fraser Valley Real Estate Board is an association of 5 183 real estate professionals who live and work in the BC communities of Abbotsford Langley Mission North Delta Surrey and White Rock Contact Nikki Hewitt Senior Communications Specialist Fraser Valley Real Estate Board nikki hewitt fvreb bc ca Telephone 604 930 7654 www fvreb bc ca FVREB Stats

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Grand Totals Sales New Listings Active Listings Average Price All Areas Combined Sales New Listings Active Listings Benchmark Price Median Price Average Price Abbotsford Sales New Listings Active Listings Benchmark Price Median Price Average Price Mission Sales New Listings Active Listings Benchmark Price Median Price Average Price MLS Summary Fraser Valley April 2024 All Property Types Apr 24 Apr 23 change Mar 24 1 471 1 554 5 3 1 395 3 976 2 478 60 5 2 986 7 313 4 632 57 9 6 197 1 040 405 1 021 563 1 8 1 050 744 change 5 4 33 2 18 0 1 0 Grand Totals year to date Sales year to date New Listings year to date All Property Types 2024 2023 change 5 034 4 628 8 8 12 128 8 808 37 7 Apr 24 Apr 23 461 531 1 476 880 2 655 1 567 1 532 700 1 454 900 1 475 000 1 430 000 1 557 647 1 525 708 Detached change Mar 24 13 2 455 67 7 1 112 69 4 2 160 5 3 1 517 100 3 1 1 460 000 2 1 1 535 309 Townhouse change Apr 24 Apr 23 change Mar 24 1 3 401 384 4 4 383 32 7 835 510 63 7 609 22 9 1 065 647 64 6 869 1 0 854 700 814 700 4 9 846 900 1 0 855 000 835 000 2 4 865 000 1 5 868 211 835 703 3 9 876 325 Apartment change Apr 24 Apr 23 change Mar 24 4 7 454 487 6 8 408 37 1 1 118 662 68 9 823 22 6 1 741 1 034 68 4 1 429 0 9 561 900 531 500 5 7 555 000 1 2 549 900 510 000 7 8 549 850 0 9 579 904 544 290 6 5 579 949 change 11 3 35 8 21 8 1 2 0 0 0 0 Apr 24 Apr 23 61 86 232 133 399 223 1 249 200 1 164 500 1 175 000 1 150 000 1 176 480 1 171 009 Detached change Mar 24 29 1 69 74 4 177 78 9 314 7 3 1 238 200 2 2 1 189 700 0 5 1 239 886 Townhouse change Apr 24 Apr 23 change Mar 24 11 6 62 54 14 8 49 31 1 112 79 41 8 80 27 1 135 108 25 0 106 0 9 670 300 623 900 7 4 658 900 1 2 722 500 657 523 9 9 717 500 5 1 712 055 658 030 8 2 726 974 Apartment change Apr 24 Apr 23 change Mar 24 26 5 79 86 8 1 66 40 0 177 101 75 2 129 27 4 252 159 58 5 195 1 7 457 800 423 600 8 1 455 900 0 7 455 000 416 500 9 2 446 250 2 1 491 747 417 387 17 8 453 796 change 19 7 37 2 29 2 0 4 2 0 8 4 Apr 24 Apr 23 42 38 108 61 192 131 1 062 400 992 500 1 097 500 1 025 000 1 130 344 1 120 803 Detached change Mar 24 10 5 42 77 0 78 46 6 161 7 0 1 054 700 7 1 929 000 0 9 972 819 Townhouse change Apr 24 Apr 23 change Mar 24 0 0 14 10 40 0 10 38 5 21 14 50 0 10 19 3 32 25 28 0 26 0 7 684 500 642 900 6 5 676 500 18 1 699 900 727 500 3 8 720 450 16 2 667 371 721 400 7 5 734 430 Apartment change Apr 24 Apr 23 change Mar 24 40 0 8 6 33 3 10 110 0 24 18 33 3 22 23 1 37 39 5 1 33 1 2 454 200 434 700 4 5 453 400 2 9 392 450 434 950 9 8 495 000 9 1 395 663 491 466 19 5 494 410 change 20 0 9 1 12 1 0 2 20 7 20 0 Source Fraser Valley Real Estate Board MLS Summary Page 1 of 3

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White Rock South Surrey Sales New Listings Active Listings Benchmark Price Median Price Average Price Langley Sales New Listings Active Listings Benchmark Price Median Price Average Price Delta North Sales New Listings Active Listings Benchmark Price Median Price Average Price Apr 24 Apr 23 58 80 247 141 464 298 1 978 600 1 876 900 1 905 000 1 748 452 2 104 425 1 886 234 Detached change Mar 24 27 5 66 75 2 175 55 7 357 5 4 1 939 400 9 0 1 743 000 11 6 2 012 289 Townhouse change Apr 24 Apr 23 change Mar 24 12 1 65 56 16 1 69 41 1 138 66 109 1 99 30 0 173 83 108 4 134 2 0 984 400 942 600 4 4 985 600 9 3 1 059 000 970 000 9 2 960 000 4 6 1 058 687 1 007 219 5 1 1 000 241 Apartment change Apr 24 Apr 23 change Mar 24 5 8 89 83 7 2 60 39 4 175 117 49 6 111 29 1 254 172 47 7 224 0 1 641 500 610 800 5 0 635 500 10 3 658 000 589 000 11 7 699 000 5 8 743 206 700 718 6 1 810 331 change 48 3 57 7 13 4 0 9 5 9 8 3 Apr 24 Apr 23 102 93 254 136 401 201 1 648 400 1 543 200 1 549 500 1 515 000 1 664 308 1 610 028 Detached change Mar 24 9 7 86 86 8 205 99 5 314 6 8 1 623 700 2 3 1 500 000 3 4 1 596 992 Townhouse change Apr 24 Apr 23 change Mar 24 18 6 106 94 12 8 91 23 9 193 99 94 9 133 27 7 191 93 105 4 154 1 5 863 600 810 700 6 5 851 900 3 3 877 500 839 000 4 6 890 000 4 2 907 041 845 300 7 3 909 164 Apartment change Apr 24 Apr 23 change Mar 24 16 5 101 117 13 7 100 45 1 253 152 66 4 195 24 0 345 224 54 0 286 1 4 625 100 578 900 8 0 623 400 1 4 575 000 565 000 1 8 575 000 0 2 597 366 586 329 1 9 587 588 change 1 0 29 7 20 6 0 3 0 0 1 7 Apr 24 Apr 23 31 41 89 63 165 103 1 411 900 1 359 300 1 472 000 1 400 000 1 552 370 1 516 123 Detached change Mar 24 24 4 39 41 3 69 60 2 139 3 9 1 432 400 5 1 1 450 000 2 4 1 467 438 Townhouse change Apr 24 Apr 23 change Mar 24 20 5 6 9 33 3 10 29 0 16 9 77 8 12 18 7 21 15 40 0 18 1 4 920 500 916 900 0 4 907 700 1 5 937 500 948 000 1 1 1 144 000 5 8 940 666 988 100 4 8 1 103 188 Apartment change Apr 24 Apr 23 change Mar 24 40 0 4 12 66 7 10 33 9 12 25 0 20 16 7 34 19 78 9 36 1 4 586 900 573 200 2 4 591 500 18 1 653 000 520 000 25 6 615 000 14 7 648 750 523 241 24 0 566 650 change 60 0 55 0 5 6 0 8 6 2 14 5 Source Fraser Valley Real Estate Board MLS Summary Page 2 of 3

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Detached City of Surrey Combined Apr 24 Apr 23 change Mar 24 Sales 224 255 12 2 219 Benchmark Price 1 665 400 1 589 700 4 8 1 646 900 Average Price 1 697 801 1 651 612 2 8 1 724 127 North Surrey Central Surrey Cloverdale and South Surrey excl White Rock Townhouse change Apr 24 Apr 23 change Mar 24 2 3 213 216 1 4 223 1 1 893 100 856 600 4 3 886 300 1 5 905 502 875 445 3 4 891 931 Apartment change Apr 24 Apr 23 change Mar 24 4 5 261 227 15 0 222 0 8 560 500 536 400 4 5 548 600 1 5 604 996 525 592 15 1 618 466 change 17 6 2 2 2 2 Surrey Central Sales New Listings Active Listings Benchmark Price Median Price Average Price Apr 24 Apr 23 71 101 271 190 552 339 1 555 600 1 494 200 1 600 000 1 520 000 1 636 555 1 637 243 Detached change Mar 24 29 7 61 42 6 212 62 8 464 4 1 1 540 000 5 3 1 580 000 0 0 1 634 650 Townhouse change Apr 24 Apr 23 change Mar 24 16 4 92 102 9 8 93 27 8 226 148 52 7 172 19 0 335 211 58 8 281 1 0 863 200 837 300 3 1 855 900 1 3 853 000 832 500 2 5 845 000 0 1 844 952 824 770 2 4 850 945 Apartment change Apr 24 Apr 23 change Mar 24 1 1 38 26 46 2 35 31 4 88 51 72 5 62 19 2 162 83 95 2 136 0 9 578 700 547 900 5 6 575 900 0 9 545 000 537 000 1 5 555 000 0 7 530 144 521 856 1 6 563 610 change 8 6 41 9 19 1 0 5 1 8 5 9 Surrey Cloverdale Sales New Listings Active Listings Benchmark Price Median Price Average Price Apr 24 Apr 23 49 36 132 58 176 72 1 550 200 1 489 900 1 480 000 1 462 500 1 484 838 1 511 517 Detached change Mar 24 36 1 43 127 6 88 144 4 137 4 0 1 542 900 1 2 1 480 000 1 8 1 552 974 Townhouse change Apr 24 Apr 23 change Mar 24 14 0 37 37 0 0 39 50 0 87 55 58 2 62 28 5 92 51 80 4 68 0 5 884 900 837 000 5 7 871 000 0 0 835 000 833 500 0 2 835 000 4 4 841 717 851 662 1 2 843 102 Apartment change Apr 24 Apr 23 change Mar 24 5 1 13 16 18 8 17 40 3 34 25 36 0 20 35 3 37 20 85 0 23 1 6 653 400 595 100 9 8 605 400 0 0 565 000 537 000 5 2 585 000 0 2 614 207 539 875 13 8 585 643 change 23 5 70 0 60 9 7 9 3 4 4 9 Surrey North Sales New Listings Active Listings Benchmark Price Median Price Average Price Apr 24 Apr 23 46 56 142 98 300 198 1 511 100 1 430 900 1 437 500 1 477 500 1 506 486 1 505 094 Detached change Mar 24 17 9 49 44 9 107 51 5 267 5 6 1 505 600 2 7 1 525 000 0 1 1 597 577 Townhouse change Apr 24 Apr 23 change Mar 24 6 1 19 22 13 6 22 32 7 42 40 5 0 41 12 4 86 61 41 0 82 0 4 799 100 757 200 5 5 791 200 5 7 758 000 819 250 7 5 773 500 5 7 798 847 807 677 1 1 812 053 Apartment change Apr 24 Apr 23 change Mar 24 13 6 121 141 14 2 110 2 4 358 185 93 5 264 4 9 617 315 95 9 492 1 0 510 900 494 200 3 4 500 100 2 0 525 000 491 000 6 9 528 000 1 6 525 856 503 403 4 5 536 339 change 10 0 35 6 25 4 2 2 0 6 2 0 Source Fraser Valley Real Estate Board MLS Summary Page 3 of 3

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RESIDENTIAL COMBINED DETACHED TOWNHOUSE APARTMENT MLS Home Price Index Fraser Valley April 2024 BENCHMARK INDEX PRICE HPI ONE MONTH CHANGE LOWER MAINLAND FRASER VALLEY BOARD NORTH DELTA NORTH SURREY SURREY CLOVERDALE SOUTH SURREY WHITE ROCK LANGLEY ABBOTSFORD MISSION 1 138 800 346 0 0 7 1 013 600 362 0 0 5 1 209 500 386 3 1 2 781 300 354 8 0 5 1 084 600 378 0 0 5 1 099 900 353 4 1 3 1 230 300 321 4 0 8 1 051 600 353 2 0 9 810 900 365 9 0 3 965 300 375 2 0 3 LOWER MAINLAND FRASER VALLEY BOARD NORTH DELTA NORTH SURREY SURREY CLOVERDALE SOUTH SURREY WHITE ROCK LANGLEY ABBOTSFORD MISSION 1 822 000 398 9 1 5 1 532 700 433 8 1 0 1 411 900 424 6 1 4 1 511 100 467 1 0 4 1 555 600 443 8 1 0 1 550 200 434 4 0 5 1 978 600 381 5 2 0 1 648 400 433 0 1 5 1 249 200 430 6 0 9 1 062 400 389 3 0 7 LOWER MAINLAND FRASER VALLEY BOARD NORTH DELTA NORTH SURREY SURREY CLOVERDALE SOUTH SURREY WHITE ROCK LANGLEY ABBOTSFORD MISSION 994 200 378 6 1 2 854 700 384 7 0 9 920 500 428 5 1 4 799 100 454 0 1 0 863 200 395 4 0 8 884 900 362 4 1 6 984 400 312 8 0 1 863 600 380 1 1 4 670 300 369 5 1 7 684 500 352 7 1 2 LOWER MAINLAND FRASER VALLEY BOARD NORTH DELTA NORTH SURREY SURREY CLOVERDALE SOUTH SURREY WHITE ROCK LANGLEY ABBOTSFORD MISSION 723 000 361 1 0 1 561 900 456 5 1 2 586 900 560 0 0 8 510 900 468 7 2 2 578 700 525 6 0 5 653 400 471 8 7 9 641 500 376 7 0 9 625 100 433 2 0 3 457 800 480 4 0 4 454 200 402 7 0 2 THREE MONTH CHANGE 3 6 2 8 3 6 1 2 1 9 4 7 3 0 3 2 3 6 5 9 5 1 4 5 4 5 4 0 2 9 5 7 4 9 4 0 6 6 7 7 4 8 3 5 3 4 5 6 3 8 5 8 3 9 1 6 4 1 2 6 3 4 4 1 2 4 3 0 3 5 6 9 5 8 4 8 3 3 0 8 SIX MONTH CHANGE 0 6 0 2 1 0 1 2 1 6 3 9 1 8 0 6 2 4 3 7 2 4 2 0 2 7 2 2 0 4 4 7 1 7 1 0 5 9 5 7 2 0 1 1 4 0 1 5 1 5 3 8 1 3 0 7 3 2 3 0 1 2 3 0 1 5 4 3 3 2 12 6 0 2 2 6 4 4 0 3 ONE YEAR CHANGE 2 6 1 5 1 8 1 7 0 1 3 5 0 6 5 4 2 4 5 0 6 6 5 3 3 9 5 6 4 1 4 1 5 4 6 8 7 3 7 0 4 8 4 9 0 4 5 5 3 1 5 7 4 4 6 5 7 4 6 5 3 5 5 7 2 4 3 4 5 6 9 8 5 0 8 0 8 1 4 5 THREE YEAR CHANGE 11 9 12 5 8 8 7 3 12 6 18 0 14 3 15 9 10 6 12 9 15 0 15 2 11 4 14 4 16 0 16 3 17 8 14 4 12 0 13 2 24 2 25 4 16 0 32 0 23 8 24 5 23 3 28 2 27 0 29 7 17 2 27 9 22 6 24 6 33 9 28 9 23 8 30 0 33 6 30 1 FIVE YEAR CHANGE 38 2 47 7 44 1 40 1 51 0 56 1 44 9 45 1 47 7 54 1 48 5 58 0 50 4 57 8 58 2 61 0 49 7 56 3 58 3 57 8 48 4 52 2 32 8 47 6 55 3 53 6 48 5 54 3 50 4 48 8 30 4 47 6 16 3 42 0 54 2 55 9 42 3 48 3 56 0 49 3 TEN YEAR CHANGE 86 5 123 3 137 1 109 8 140 9 144 4 90 9 129 4 151 0 182 3 105 4 162 3 157 0 179 9 176 9 174 8 122 6 176 3 189 6 193 8 139 2 162 2 131 5 197 9 173 8 171 1 115 9 175 6 173 1 181 0 111 9 189 8 206 7 178 8 215 3 194 7 160 5 202 5 234 1 221 1 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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14 000 12 000 10 000 8 000 6 000 4 000 2 000 0 Sales Listings Active Inventory All Types Fraser Valley Actives Listings Sales 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 Fraser Valley Real Estate Board

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Sales to Active Listings Ratio All Types Fraser Valley 100 90 According to BCREA a balanced market in the Lower Mainland ranges between 12 20 This graph includes all Residential and Commercial property types 80 70 Sellers Market 60 50 40 30 Balanced Market 20 10 Buyers Market 0 April month end 20 Ratio 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 Fraser Valley Real Estate Board

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525 0 500 0 475 0 450 0 425 0 400 0 375 0 350 0 325 0 300 0 275 0 250 0 225 0 200 0 175 0 150 0 125 0 100 0 75 0 50 0 MLS Home Price Index Fraser Valley Detached Townhouse Apartment 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 Fraser Valley Real Estate Board

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1 900 000 1 800 000 1 700 000 1 600 000 1 500 000 1 400 000 1 300 000 1 200 000 1 100 000 1 000 000 900 000 800 000 700 000 600 000 500 000 400 000 300 000 200 000 100 000 MLS Home Price Index Benchmark Prices Fraser Valley Detached Townhouse Apartment 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 Fraser Valley Real Estate Board

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2 000 000 1 800 000 1 600 000 1 400 000 1 200 000 1 000 000 800 000 600 000 400 000 200 000 0 Average Price Residential Detached all Fraser Valley 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 2022 2023 2024

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40 000 35 000 30 000 25 000 20 000 15 000 10 000 5 000 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 2021 2022 2023 Annual Sales New Listings Average Price All Property Types Fraser Valley Sales New Listings Average Price 1 200 000 1 000 000 800 000 600 000 400 000 200 000