A Closer Look Into Current Market Trends and Stats

Fraser Valley Real Estate Market

October brought us yet another interest rate hike from the Bank of Canada, with another still expected in December.  Generally speaking though, this didn't have a significant impact on the number of sales, listings and benchmark prices in the Fraser Valley, which remained relatively similar to what we saw in September.   With nothing much changed on that front, let's focus on an important statistic we like to track... the sales-to-active listings ratio.  This ratio tells us what percentage of listings are actually selling and can be an indicator of who the market favours.  October had a sales-to-active listings ratio of 16 per cent. This means for every 100 listings, 16 of them sold.  The market is considered balanced when the sales-to-active listings ratio is between 12 per cent and 20 per cent. Higher is a seller's market and lower is a buyer's market.  Overall the market was balanced for the fifth straight month after a prolonged sellers’ market.  This means that there are equal opportunities out there for both buyers and sellers.  It also means that real estate can be less stressful for both than it has been in the past.  Feel free to reach out if you would like to discuss this more and what it means for you.  

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Contact us Today

604.530.0231