Selling prices continue to adjust to where Buyers are willing to step in. Those who have their finances in good order can leverage their position and make a good transition, up or down. Banks are very cautious with lending these days so it can be challenging for those entering the Fraser Valley market. With informed advice, patience, and perseverance good things are happening for our clients. We look forward to hearing from you to explore your real estate aspirations for 2024!
Narinder Bains Chair of the Fraser Valley Real Estate boards speaks on October's market.
"Active listings in October were 6,580, up by less than 1 percent over last month and up by 17 percent over October 2022. The sales-to-active listings ratio was 15 percent, creating balanced conditions in the overall market, with detached houses dipping into buyers’ market territory at 12 percent. The market is considered balanced when the ratio is between 12 percent and 20 percent."