The Fraser Valley Real Estate Board (FVREB) processed 1,412 sales on its Multiple Listing Service in March.
That’s a drop of 22% compared with March 2011 and 13% less than the 10-year average of 1,626 sales for March.
“It was quieter than usual for March, but still steady with an increase in demand for more affordable properties,” said FVREB president Scott Olson.
Olsen said he saw particular demand for detached homes priced at less than $500,000 and townhomes.
“Compared with last March, every community in the Fraser Valley experienced a decrease in the sales of single-family detached homes, especially those priced at the higher end.”
In March, sales of Fraser Valley homes priced at more than $500,000 fell 33% compared with 2011.
