Maple Ridge Market Update- January 2022

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The real estate market in Maple Ridge is off to a great start in 2022! Picking right back up after a record year in 2021.

Jumping right into it; Townhouses & condos in Maple Ridge.

Inventory has come up 35% since December and surprisingly sale prices are down 9% from an average sale price of $587,900 in December to $535,000 in January. Average days on market is just over a week at 8 days. Areas like Silver Valley, Southwest Maple Ridge, and West central are busy with a sale ratio over 100% which means there are more condos and townhomes selling than recorded inventory on the market. Popular price ranges in January were $400,000-$500,000 and $900,000-$1,250,000. But one to two bedrooms had the highest demand in January for the attached market.

Detached homes in Maple Ridge.

Inventory is up from December and on the rise. With sales actually down this January you wouldn’t expect it but prices are actually up 10%, in December the average sale price was $1,335,000 January bought sale prices for a detached single family home to $1,467,500. The hottest area to purchase in January was East Central with a sales ratio of  167%. Inventory was up 126% from December but sales were down 45%. With 7 days being the average days on the market and seeing a lot of inventory from $1,250,000 to $2,000,000.

The market is still very hot and with inventory on the rise February should be a good month. We say a lot of buyers out for early spring shopping trying to be the rush but what it actually did was create more of a rush for the few properties that were available.

If you are wanting a more detailed market analysis on a specific area, the full market report or you have any questions about the current market in the Tri-Cities or Fraser Valley you can contact me at 604-341-9937 or [email protected]