April 2024 – Fraser Valley Real Estate Market Snapshot

In April, sales absorptions increased for all home types compared to March. Single-family homes, the most expensive type, saw the smallest increase. Year-to-date numbers reveal sales declines in single-family homes and condominiums, but a slight increase in townhomes. Inventory has risen significantly across all home types. Despite more supply, prices have stayed stable compared to the previous month. Values are still higher than in April 2023.

The market now has 65% to 69% more inventory than last year. This should favor buyers. However, new government policies, inflation, and high interest rates have not lowered prices or improved affordability. Prices have risen year over year, with little to no fluctuation from last month.