Fraser Valley condos had an explosive year. As condo prices ballooned in Greater Vancouver buyers were pushed further and further away from the city. This is a typical phenomenon in Real estate booms called ‘the drive to qualify’.  Buyers who are desperate to enter the Real Estate market become more willing to drive further into the suburbs in an attempt to enter the market. As prices get bid up in the suburbs this attracts a growing investor base and only adds to higher prices. The run up in the Fraser Valley has lagged Vancouver, it started in the detached market and has now worked it’s way to the condo market. While Vancouver condos also had an exceptional year, growing by 13%, it pales in comparison to the 25% increase for Fraser Valley condos. Fraser Valley Condo prices Increases 25% in 2017 The average sales price of a Fraser Valley condo increased by 25% in 2017 to $326,014. The median sales price increased a whopping 30% to $310,000. Condo Buyers Spent an Additional $648M in 2017 With condo sales increasing to a record high (22% increase year over year) and the average sales pushing upwards of 25% it resulted in dollar