Overall the market is less intense than we are used to in Greater Vancouver. That being said, the more affordable options for first time buyers and detached properties that work well for co-buys and multi-generational living are snapped up quickly and often see multiple offers if they are well priced. If your 2024 plans include buying or selling I recommend staying ahead of the crowds that are sitting back and waiting for the perfect time to jump back in.
Narinder Bains Chair of the Fraser Valley Real Estate boards speaks on November's market.
“As we head into the holiday season, buyers and sellers are busy with other priorities and will most likely continue to wait on the sidelines. We anticipate this holding pattern, defined by slow sales and declining new listings, will continue through the winter months until we see some downward movement in interest rates.”
For more details and data see this link:https://www.fvreb.bc.ca/statistics/Package202311.pdf