A Closer Look Into Current Market Trends and Stats
Fraser Valley Real Estate Market
In our Market Update during the first week of February, we discussed that the number of showings on listings was increasing significantly. Well, those showings began turning into offers as February progressed. Most market segments heated up and homes that were priced appropriately were sold fast. This first week of March we have seen things pick up even further. Multiple offers are becoming commonplace again. These are not the multiple offer situations we were used to in years past though. Homes are typically not being sold for ridiculous amounts over the asking price and even the winning bids typically have regular conditions on them. Maybe we can thank the new Home Buyer's Recission Period for this? The main drive behind all of this is still a shortage of supply. Will things level off again quickly as we get a surge in spring inventory? We would be happy to discuss and give you our thoughts on that anytime; just give us a shout.