{"id":42538,"date":"2021-02-08T23:04:19","date_gmt":"2021-02-08T23:04:19","guid":{"rendered":"https:\/\/schreders.ca\/?p=42538"},"modified":"2022-11-16T14:05:43","modified_gmt":"2022-11-16T19:05:43","slug":"fraser-valley-real-estate-market-january-2021","status":"publish","type":"post","link":"https:\/\/www.schreders.ca\/blog\/fraser-valley-real-estate-market-january-2021\/","title":{"rendered":"Fraser Valley Real Estate Market January 2021"},"content":{"rendered":"\n

In a month that is usually one of the quietest in real estate, Fraser Valley\u2019s market continued at a breakneck pace.<\/h2>\n\n\n\n

JANUARY 2020 MARKET REPORT<\/h3>\n\n\n\n

Fraser Valley Real Estate Report<\/strong><\/h4>\n\n\n\n

Another month, another record.  January is a slow month for real estate?  Not this year.  The Fraser Valley market experienced the strongest January sales on record.  An increase of 76% compared to January 2020 and 72% above the 10-year average.<\/p>\n\n\n\n

Many Buyers, after finding out how much over the list price a place sold for, make comments such as \u201cit\u2019s not worth that\u201d or \u201cthat\u2019s not market value\u201d.  However, the reality is that when a property sells for over asking it is not selling for over market value.  Market value is simply what a current Buyer is willing to pay and what a current Seller is willing to sell their property for in the current market (supply \/ demand) conditions.  Buyer\u2019s who understand this perspective are likely also the ones being successful in multiple offers.<\/p>\n\n\n\n

While the challenge continues to be a lack of supply, we\u2019ve seen a month over month increase in supply levels compared to December and we anticipate this to continue into what is typically a busy Spring market. More inventory is what\u2019s needed to help balance the market and this will be a very welcome sight to the Buyers out there.<\/p>\n\n\n\n

In every market there are opportunities\u2026..here\u2019s one we’d like to point out:  The benchmark price of a single-family detached home in the Fraser Valley increased 15.2% from January 2020 to January 2021.  If you bought a detached house within the past several years, chances are you have more equity than you think.  Take advantage of this by refinancing (at all time low interest rates) and put some of that money to work for you by purchasing an investment property.  At 4.4%, condo\u2019s have seen far less of a price increase year over year, but this may not last.  Sounds like a good opportunity to us.   <\/p>\n\n\n\n

See Listed Properties For Sale in Langley BC<\/a><\/p>\n\n\n\n

Please give us a call, shoot us a text, write us an email, or send a carrier pigeon to get the conversation started on what this means for you. <\/p>\n\n\n\n

If you are considering selling, buying or just have questions about the market<\/strong>, please give us a call today and let\u2019s chat<\/a>.<\/p>\n\n\n\n

GO TO LAST MONTHS STATS<\/a><\/strong><\/p>\n\n\n\n

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All Fraser Valley Areas Combined <\/p>\n\n\n\n