Summertime Blues The month of June witnessed the first decrease in interest rates in over three years. Despite this favorable economic indicator, there was still a noticeable dip in sales activity and average prices for both single-family homes and townhouses. Surprisingly, the condo sector defied this trend, showing an increase in average value both month-to-month […]
May Anticipation In May, many people were waiting to see what would happen with interest rates in early June. This anticipation led to a drop in overall sales absorptions, which were down 11 to 17 percent compared to May 2023. While multi-family product sales decreased moderately month-to-month, single-family absorptions surprisingly increased by 15% compared to […]
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Written by Jamie Squires, President, Fifth Ave Real Estate Marketing.
APRIL SHOWERS…WILL IT BRING MAY FLOWERS? 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, […]
Unraveling the Real Estate Landscape of Fraser Valley: Recent Shifts and Future Trends As the saying goes, “March entered like a lion and exited like a lamb,” witnessing an overall increase in sales from February in both the single-family and townhome sectors, with the bulk of sales activity occurring early in the month. However, sales […]
Unraveling the Real Estate Landscape of Fraser Valley: Recent Shifts and Future Trends February Market Activity In February, the Fraser Valley resale market saw a rise in sales activity, values, and inventory compared to both the previous month and the same month last year. Some buyers are cautiously re-entering the market due to promising inflation […]
That’s A Wrap! The final month of 2023 quietly concluded with the Bank of Canada holding interest rates for a third time in a row. Let’s dive into the statistics and see how the market performed over the final days of last year. With so much uncertainty in the market caused by a combination of […]
Mellow November Welcome to Fall 2023, a season of reflection and market analysis in the Fraser Valley region. Let’s delve into the data from the third quarter alongside a concise summary of the market’s performance. Undoubtedly, amidst the prevailing uncertainty, the market has witnessed a decline in sales activity over the third quarter of 2023 […]