Fraser Valley Market Update | April 2023
As the real estate market in the Fraser Valley continues to weather persistent inventory shortages, it has remained relatively stable, with home sales remaining consistent in April 2023. According to the Fraser Valley Real Estate Board, although sales decreased by 5.1% compared to April 2022, they remained consistent due to the continued pause in interest rate hikes. The limited supply of homes for sale is leading to multiple offer situations and subject-free offers becoming more common again, but the Board expects sellers to start putting more homes up for sale in the coming months. This should help to address the current shortage of homes for sale and potentially ease some of the competition among buyers.
Here's a snapshot of the Fraser Valley Real Estate Board's market data for April 2023:
(Source: FVREB Market Data, April 2023)
(Source: FVREB Market Data, April 2023)
(Source: FVREB Market Data, April 2023)
If you're a homeowner in the Fraser Valley thinking about listing your home, it's worth speaking with a local real estate agent to get a sense of what your home is worth and how you can make the most of the current market conditions.
At Elevation Real Estate Group, we have the experience and knowledge to help you navigate the current real estate market in the Fraser Valley.
Contact us today to learn more about how we can help you with your real estate needs.
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