February 2020 market update- More Inventory. More sales. And a very hot market for townhomes.

Market Updates | March 4, 2020 | written by Dan

Hi everyone

I hope your March is off to a fantastic start, we are officially more than 16% of the way through 2020! It is absolutely crazy how fast this year is going by.

For this month’s Market update I thought it would be valuable to compare February 2020 to January 2020 directly and then compare February 2020 to February 2019 to examine how things have changed from exactly one year ago.

Median Pricing

To start this discussion let’s look at the median pricing for the four housing classes we examine in the Fraser Valley; Apartments, Townhomes, Detached homes and homes with Acreage.

Apartments Median Pricing;

February 2020- $385,950

January 2020- $372,500

February 2019- $380,000

Townhomes Median Pricing

February 2020- $579,450

January 2020- $570,000

February 2019- $560,000

Detached Median Pricing

February 2020- 981,000

January 2020- 969,000

February 2019- 937,500

Homes with Acreage

February 2020- 1,830,000

January 2020- 1,640,000

February 2019- 1,650,000


My Interpretation

Overall across all housing classes prices are trending up with the most variance month to month in apartments and homes with acreage.

Sales to Actives Ratio (S/A)

Now let’s look at the Sales to Active ratio.  I love the sales to actives ratio as a metric to determine the speed of the market and who is favoured in specific housing classes.  If the sales to actives ratio is between 12% & 20%, we define this as a balanced market.  Less than 12% favours the buyer, greater than 20% favours the Seller.

Apartments (S/A)

February 2020- 26.5% (seller’s market)

January 2020- 23% (seller’s market)

February 2019- 20.1% (seller’s market)

Townhomes (S/A)

February 2020- 37% (seller’s market)

January 2020- 27.9% (seller’s market)

February 2019- 20.3% (seller’s market)

Detached Homes (S/A)

February 2020- 25.7% (seller’s market)

January 2020- 18.3% (balanced market)

February 2019- 13.4% (balanced market)

Homes with Acreage (S/A)

February 2020- 8.4% (buyer’s market)

January 2020- 6.5% (buyer’s market)

February 2019- 4.9% (buyer’s market)


My Interpretation

The market is holistically moving towards a seller’s market.  The most surprising to me is the absorption of townhomes and apartments given the strata insurance increases for both the individual owners and strata corporation.


Active Listings

Quite simply, active listings are the number of homes for sale in a given housing class across the Fraser Valley.



February 2020- 1,187

January 2020- 1,074

February 2019- 1,436


February 2020- 919

January 2020- 864

February 2019- 1,160

Detached Homes

February 2020- 2,077

January 2020- 1,986

February 2019- 2,606

Homes with Acreage

February 2020- 357

January 2020- 323

February 2019- 390


Across all housing classes there is historically low inventory however it does appear to be recovering.  The strongest market for seller’s right now is the townhome market, with historically low inventory and high S/A there is a lot of pent up demand for that housing class.



The number of transactions in a given housing class.


February 2020- 314

January 2020- 247

February 2019- 288


February 2020- 340

January 2020- 241

February 2019- 235

Detached Homes

February 2020- 534

January 2020- 363

February 2019- 350

Homes with Acreage

February 2020- 30

January 2020- 21

February 2019- 19


More activity across every housing class month over month and even year over year, given the overall decrease in inventory it is easy to see why the market is beginning to turn toward the seller.


New Listings

Listings that came onto the market in a given month.


February 2020- 630

January 2020- 522

February 2019- 589


February 2020- 556

January 2020- 493

February 2019- 480

Detached Homes

February 2020- 945

January 2020- 792

February 2019- 768

Homes with Acreage

February 2020- 103

January 2020- 94

February 2019- 58



After relatively low inventory across the winter months it appears that Sellers are seeing an opportunity to potentially cash in on some pent-up demand and are listing their homes at a more rapid rate than they were a year ago across all housing classes.



Where I see the biggest opportunity right now-

Quite frankly, across all housing classes, it’s a good time to sell.  Every home has experienced appreciation in year over year median price and the S/A has increased across all housing classes.  Inventory appears to be recovering but is still low so if your home presents value to the market you should get fantastic traction.

Right now, I feel the biggest opportunity is for folks looking to upgrade from a townhouse to a detached home.  With sales up and inventory down and S/A at 37% this is a very strong market for folks living in townhomes.

I hope this Market update was helpful if I can be of any service please don’t hesitate to call, text or email.

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