February Market Update

Posted on Mar 04, 2023

Sales are picking up slowly and steadily as we head into the spring season. Prices are still on average about 36% higher than pre-pandemic levels, but are now holding relatively steady since coming down off their peak in April 2022. Overall we are seeing a balanced market, however the townhome market has shifted again to a seller's market due to th...

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December Market Update

Posted on Jan 01, 2023

Market Update ➡️➡️➡️ 2022 wrapped up with a very different market than what it started with!
With interest and mortgage rates softening demand, the number of sales in December were less than half of what they were last Christmas. With double the inventory that was available last December, we are finding ourselves in what the industry would call a "balance...

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November Market Update

Posted on Dec 01, 2022

November Market Update!
As the housing market slows down due to the holiday season and interest rate hikes, there is still good news for those looking to buy in the near future.
Townhome and condo prices in the Fraser Valley are still higher than this time last year, but single family detached homes are down approximately 6.5% from the same time. If...

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October Market Update

Posted on Nov 01, 2022

October Market Update! ⚖️ Although the market may feel slow after the recent buying frenzy, the Fraser Valley housing market is actually at balance. (Balance is when the sales-to-active listings ratio is between 12 and 20 percent - we are currently sitting at 16 percent). So although things may feel slow, this market has balance for both buyers and...

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September Market Update

Posted on Oct 01, 2022

➡️➡️➡️ With buyers exercising more caution due to rising interest rates, we are seeing about 50% less sales and approximately 50% more active listings than last fall. This leaves us with a much more balanced market, allowing those who are looking to purchase more time to shop around, and consider their options. 

Prices for single family homes are, on...

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August Market Update

Posted on Aug 01, 2022

Sales are down 20% from last month, and 50% since last year, BUT the number of active listings is much higher than 12 months ago, bringing the market much closer to something resembling balance. Buyers finally have homes to choose from! For those considering stepping up in the market it may be a good time to explore their options - higher priced ho...

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