October Monthly Market Update

I had fun filming this by Morgan Creek Golf Course the other day... Here's my take on the market this month... The FVREB has reported that Demand for Fraser Valley Real Estate remained robust in September. While overall sales decreased compared to August, total sales reached the second-highest levels for September in the 100-year history. It has certainly has been a year for the record books. The inventory level remains low, and the increase in listings in September was not enough to bolster the inventory required to create greater balance in the market. 
I continue to see the influx of buyers in the market and multiple offers on listings which can end up selling anything from 10% - 18% above asking in some instances. Open houses can feel like Grand central train station and it is a great time to sell if you have your next move lined up in advance. I can help plan this with you if you want to take advantage of this hot market, so please reach out to me. 
The outlook remains steady for home sales and price. While pandemic drivers such as working remotely full-time most people subsides, it will not fully revert. Many employers continue to apply a hybrid work environment, which drives the demand for the Fraser Valley. Mortgage rates are anticipated to rise modestly over the next two years but remain low and supportive of demand. The persistence of a strong population continues, and we face a relatively undersupplied market. This will, in turn, keep prices elevated while shifting the market towards townhomes and apartments, which are already developing in the Fraser Valley. 
Do you have any questions about your market or do you know someone considering buying or selling real estate in the next few months and may need some advice?  I would love to help! Please reach out to me. Have a super day! 
#amandamilfordrealtor #whiterock #whiterockbeach#southsurrey #whiterockhomes #dogmom#whiterockrealestate #southsurreybusinesses#landassemblyspecialist