Yes sale prices are decreasing, however still nowhere near the values that we saw in 2019. It is worth noting how these trends compare in the major metropolitan areas of Greater Vancouver (REBGV) and the Fraser Valley (FVREB).

Between February 2020 – February 2022, median sales prices of detached houses increased by $635,000 (46%)  in Greater Vancouver, and $800,000 (82%) in the Fraser Valley.

From February 2022 – September 2022, median sales prices of detached houses has decreased by $330,000 (16%) in Greater Vancouver, and $455,000 (26%), totalling over half of the previous inflationary gains throughout the pandemic.