Market Update – Fraser Valley
Fraser Valley real estate continues to see record sales in April (3,016) topping the previous records set in 2015/2016 (2,696).
Home Sales
the Fraser Valley Real Estate Board (FVREB) processed 3,016 sales on its MLS®:
- 338% increase compared to April 2020.
- 9% % decrease from March 2021.
Listings
Last month the board received 5,018 new listings
- 254% increase compared to April 2020.
- 1% decrease compared to March 2021.
Although it is still hard for homebuyers to buy a home, there has been evidence of a change in pace in the last couple of weeks. There are fewer multiple offers and over-priced homes stay in the market longer due to an increase in inventory.
New supply in the market has reduced the speed of increasing prices. Therefore if you have a house you want to sale you need to work with a professional real estate agent to make sure your asking price is fair and realistic based on today’s market, not even yesterday’s.