April Monthly Market Update

I filmed this at my listing 13 14888 24 Ave. I feel like I had stepped back in time when I walked in there for the first time. It is SOLD now! 
The bank of Canada decided to hold its interest rate steady at 4.5% today while the impact of its previous rate hikes filters down through the economy. Canada’s inflation rate for March is to be released next week and it’s expected to show the rate has cooled to as low 4%. 
March 2023 saw the second consecutive month of growth in sales in the Fraser Valley, and although still below seasonal norms, the trend is an encouraging sign that the region continues to head towards increased market stability.
While market demand continues to trend up, we still face an uphill battle on the supply side, which is keeping prices elevated,” said FVREB CEO, Baldev Gill. “The province will require sustained inventory growth of at least 25 per cent over each of the next five years in order to normalize inventories.
The prices of detached homes have rebounded since November 2022 and are now in line with those in October 2021. Furthermore, the average sales have reached their highest level over the year-on-year period. Although inventory is low, we have transitioned into a Seller's market.What's surprising about this recent activity is that these price increases are happening despite the current elevated borrowing costs, lower listings, and below-average sales.
As for the townhouse and condo markets, both average sale prices and sales have risen. However, even though the number of listings has increased, it is still significantly below what is typical for the spring market.
My Seller Services include:
  • Customized Concierge Services
  • Home Staging Consult & Staging ( up to $2,000 in value)
  • Professional Photos & Floor plan
  • Upsizing & Downsizing strategies
  • Strategic Local Marketing Plans
  • Physically present at showings.

Call me to book your seller's consult by replying back to this email or calling/text me at 604 803 3523. 
Warm Regards,Amanda