Market Update: Is the Fraser Valley Housing Market Turning Around?

A Resurgent Fraser Valley Real Estate Market

The Fraser Valley real estate market is experiencing a resurgence. After months of decline, October saw a significant 35% month-over-month and 37% year-over-year increase in home sales.

While new listings declined slightly in October, they were up 26% year-over-year. The overall inventory, though down 3% from September, is up 34% compared to last year. This balanced market, with a sales-to-active ratio of 15%, indicates a healthy equilibrium between supply and demand.

Price Stabilization

After a period of downward trends, benchmark prices in the Fraser Valley have shown signs of stabilization. While the composite Benchmark price decreased by 0.7% in October to $971,700, this represents a significant improvement compared to previous months.

Navigating the Market with Expert Guidance

Given the dynamic nature of the real estate market, consulting with a trusted real estate professional can provide invaluable guidance. A knowledgeable realtor can help you make informed decisions, whether you're buying, selling, or investing in property.

Elevate Your Real Estate Journey

At Elevation Real Estate, we're committed to helping you achieve your real estate goals. Our experienced agents are dedicated to providing personalized service and expert advice.

To learn more about how we can assist you, please contact us today.