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Highlights From the Real Estate Board April 2022
“Over the last two months, we’ve seen home sales ease down from the record-breaking pace of the last year. While still a small sample size, the return to a more traditional pace of home sales that we’ve experienced so far this spring provides hopeful home buyers more time to make decisions, secure financing and perform other due diligence such as home inspections.”
Sales of detached homes in April 2022 reached 962, a 41.9 per cent decrease from the 1,655 detached sales recorded in April 2021. The benchmark price for a detached home is $2,139,200. This represents a 20.8 per cent increase from April 2021 and a one per cent increase compared to March 2022.
Sales of apartment homes reached 1,692 in April 2022, a 26.1 per cent decrease compared to the 2,289 sales in April 2021. The benchmark price of an apartment home is $844,700. This represents a 16 per cent increase from April 2021 and a 1.1 per cent increase compared to March 2022.
“NOTE: this representation is based in whole or in part on data generated by the Chilliwack & District Real Estate Board, Fraser Valley Real Estate Board or Real Estate Board of Greater Vancouver which assume no responsibility for its accuracy.”
Download The Real Estate Board of Greater Vancouver’s April statistics Package. Click Here
Download Fraser Valley’s Real Estate Board’s April Package. Click Here
Food for Thought on Real Estate – April 2022
- Seller’s market – A seller’s market is when there are more people looking to buy then there are homes available. This causes a rise in price above the long-term average rate of inflation. Typically this is indicated by a sales-to-active listings ratio of 20% or higher.
- Buyer’s market – In contrast, a buyer’s market is when there are many more homes for sale than there are buyers. As a result, prices increase slower than the long-term average rate of inflation. In extreme circumstances this can cause prices to decline. Typically this is indicated by a sales-to-active listings ratio below 12%.e
- Balanced market – A balanced market occurs when supply and demand are about the same, with home prices rising in line with long-term average rate of inflation. Typically this is indicated by a sales-to-active listings ratio between 12% and 20%.Summary Over a sustained period of time:
- a seller’s market is represented by a ratio of 20% or higher
- a buyer’s market is represented by a ratio of 11% or lower
- a balanced market rests between 12-19%

Di Beppe Restaurant
May 2022 Newsletter Introduction
It’s MAY – it’s one of my favourite months of the years. This year, the weather has been abnormal with cool and hot periods that it’s hard to determine what Mother Nature has in store for us for the Spring Season. As you may notice, the Cherry Blossoms have bloomed later than usual, but it means we get to enjoy them more!
I couldn’t have fathom on how the market has dramatically change in a few short weeks. Not too long ago we saw heavy competition of massive over asking pricing, but now prices have dropped and brought back to more normalcy where buyers are able to do their due diligence and not have to compete. The market has corrected itself faster than I have ever seen, and without the help of Government intervention. Their suggestions were to be implemented this Summer is far too late, and if they were to have intervene, it should have happen earlier. However, inventory is still low and with possible increase in interest rates to be applied in June the market may stay balanced till the end of year till early of 2023.
#CovidBC update:
It appears that as COVID has been lessen and we’re back to normalcy, there isn’t as much updates on COVID. Dr. Bonnie Henry focus is now focusing on BC’s illicit drug deaths of Opioid crisis. So hopefully we continue on this trend, and COVID can be put behind us, and we can focus on other serious diseases.
– Sam

Cafe d’lite express
Highlights From the Real Estate Board March 2022
“March of 2021 was the highest selling month in our history. This year’s activity, while still elevated, is happening at a calmer pace than we experienced 12 months ago. Home buyers are keeping a close eye on rising interest rates, hoping to make a move before their locked-in rates expire.”
Sales of apartment homes reached 2,310 in March 2022, a 14.3 per cent decrease compared to the 2,697 sales in March 2021. The benchmark price of an apartment home is $835,500. This represents a 16.8 per cent increase from March 2021 and a 3.4 per cent increase compared to February 2022.
“NOTE: this representation is based in whole or in part on data generated by the Chilliwack & District Real Estate Board, Fraser Valley Real Estate Board or Real Estate Board of Greater Vancouver which assume no responsibility for its accuracy.”
Download The Real Estate Board of Greater Vancouver’s March statistics Package. Click Here
Download Fraser Valley’s Real Estate Board’s March Package. Click Here
Food for Thought on Real Estate – March 2022
- Seller’s market – A seller’s market is when there are more people looking to buy then there are homes available. This causes a rise in price above the long-term average rate of inflation. Typically this is indicated by a sales-to-active listings ratio of 20% or higher.
- Buyer’s market – In contrast, a buyer’s market is when there are many more homes for sale than there are buyers. As a result, prices increase slower than the long-term average rate of inflation. In extreme circumstances this can cause prices to decline. Typically this is indicated by a sales-to-active listings ratio below 12%.e
- Balanced market – A balanced market occurs when supply and demand are about the same, with home prices rising in line with long-term average rate of inflation. Typically this is indicated by a sales-to-active listings ratio between 12% and 20%.Summary Over a sustained period of time:
- a seller’s market is represented by a ratio of 20% or higher
- a buyer’s market is represented by a ratio of 11% or lower
- a balanced market rests between 12-19%
April 2022 Newsletter Introduction
Spring has sprung! A great indicator of Spring is our wonderful Cherry Blossom blooming season. It’s always one of the prettiest times of the year! I love the soft delicate flower petals that lines many streets in the lower mainland into breathtaking photo worthy moment with friends and family. So if you get a chance, take some time and just enjoy the scenic view since it’s only here for 2 – 3 weeks!
So how’s the market been like in March? As mentioned, the market has dampen due to a number of factors, namely – increased interest rates, inflation, buyer’s fatigue and the “cooing period” that the government is looking to implement this coming Summer. Currently, homes have sold at asking or close to asking. Any multiple offers to drive interest to go significantly over isn’t happening at the moment. As a result, this may be good opportunity to consider buying since this dip may not last that long since. There is still a demand and there are many buyers who were exhausted from not being able to buy would resurface and come back to purchase.
#CovidBC update:
British Columbians will no longer be required to show proof of COVID-19 immunization to attend a concert, eat at a restaurant or go to the gym as of Friday, April 8. Provincial Health Officer Dr. Bonnie Henry announced on Tuesday afternoon the lifting of the last major COVID-19 public health restriction. However, businesses can decide if they still require a vaccine card for entry, Henry said. This comes as independent modelers warn of the sixth wave of COVID-19 cases in the province. But Henry is quick to point out that even though cases may be on the rise, hospitalizations and intensive care visits linked to COVID continue to remain manageable. “We believe we can remove some of the restrictions weighing the risk. We know some businesses will still decide to use the vaccine card based on their clientele,” Henry said. “Rates remain very low for most younger people and even those in the 60 and 70s age range. It is very clear having a booster is highly protective.”
– Sam
