{"id":21855,"date":"2023-05-08T10:10:00","date_gmt":"2023-05-08T17:10:00","guid":{"rendered":"https:\/\/www.roryc.ca\/blog\/?p=21855"},"modified":"2023-05-08T10:15:21","modified_gmt":"2023-05-08T17:15:21","slug":"homebuyers-are-continuing-to-find-opportunities-in-fraser-valley-spring-home-sales-hold-steady","status":"publish","type":"post","link":"https:\/\/www.roryc.ca\/blog\/2023\/05\/homebuyers-are-continuing-to-find-opportunities-in-fraser-valley-spring-home-sales-hold-steady\/","title":{"rendered":"Homebuyers are Continuing to Find Opportunities in Fraser Valley, Spring Home Sales Hold Steady"},"content":{"rendered":"<p style=\"text-align: justify;\">SURREY, BC \u2013 Despite persistent inventory shortfalls, housing sales in the Fraser Valley remained steady in April as buyers took advantage of the continued pause in interest rate hikes.<\/p>\n<p style=\"text-align: justify;\">In April, the Fraser Valley Real Estate Board (FVREB) processed 1,554 sales on its Multiple Listing Service\u00ae (MLS\u00ae), virtually unchanged compared to March and a slight decrease of 5.1% compared to April 2022.<\/p>\n<p style=\"text-align: justify;\">\u201cBuyers are continuing to find opportunities in the Fraser Valley, even in the face of lower inventories,\u201d said Narinder Bains, Chair of the Fraser Valley Real Estate Board. \u201cWith prices remaining strong, we expect to see inventories increase over the coming months as sellers seek to capitalize on price growth after sitting out for so long.\u201d<\/p>\n<p style=\"text-align: justify;\">The Board received 2,478 new listings in April, off by 3.2% compared to March, and down by 31.6% compared to last year. The month ended with a total active inventory of 4,632, a 2.2% increase over March, and 14% less than April 2022.<\/p>\n<p style=\"text-align: justify;\">\u201cOur members are starting to see a rise in multiple offers on properties as the spring market kicks in,\u201d said Board CEO, Baldev Gill. \u201cWith the heightened activity, many homeowners are asking : is now the right time to buy or sell? There is no simple \u2013 or single \u2013 answer to this question, but a wise first step would be to consult with a professional REALTOR\u00ae to determine the best path to meet your personal objectives.\u201d<\/p>\n<p style=\"text-align: justify;\">Low inventories helped nudge prices upward with the composite Benchmark price up by 2.8% to $992,000 and single-family detached homes up by nearly 4%, month-over-month.<\/p>\n<p style=\"text-align: justify;\">Across Fraser Valley in April, the average number of days to sell a single-family detached home was 25 days and a townhome was 23 days. Apartments took, on average, 26 days to sell.<\/p>\n<p style=\"text-align: justify;\"><strong>MLS\u00ae HPI Benchmark Price Activity<\/strong><\/p>\n<p style=\"text-align: justify;\">\u2022 Single Family Detached : At $1,442,900, the Benchmark price for an FVREB single-family detached home increased 3.8% compared to March 2023 and decreased 17.8% compared to April 2022.<br \/>\n\u2022 Townhomes : At $808,000, the Benchmark price for an FVREB townhome increased 1.7% compared to March 2023 and decreased 13.3% compared to April 2022.<br \/>\n\u2022 Apartments : At $530,200, the Benchmark price for an FVREB apartment\/condo increased 1.6% compared to March 2023 and decreased 9.8% compared to April 2022.<\/p>\n<p style=\"text-align: justify;\"><a href=\"https:\/\/www.fvreb.bc.ca\/statistics\/Package202304.pdf\" target=\"_blank\" rel=\"noopener\">Click here<\/a> to view the April 2023 stats package.<\/p>\n<p><a href=\"https:\/\/www.fvreb.bc.ca\/statistics\/fraser-valley-real-estate-sales-record-slowest-annual-start-in-ten-years-january-new-listings-lowest-in-over-thirty-years-2-2-2\/\" target=\"_blank\" rel=\"noopener\">Spring Sales Hold Steady in Fraser Valley Real Estate Market<\/a> by FVREB<\/p>\n","protected":false},"excerpt":{"rendered":"<p>SURREY, BC \u2013 Despite persistent inventory shortfalls, housing sales in the Fraser Valley remained steady in April as buyers took advantage of the continued pause in interest rate hikes. In &hellip; [<a href=\"https:\/\/www.roryc.ca\/blog\/2023\/05\/homebuyers-are-continuing-to-find-opportunities-in-fraser-valley-spring-home-sales-hold-steady\/\">read more<\/a>]<\/p>\n","protected":false},"author":3,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[8],"tags":[],"class_list":["post-21855","post","type-post","status-publish","format-standard","hentry","category-market-updates"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.7 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>Homebuyers are Continuing to Find Opportunities in Fraser Valley, Spring Home Sales Hold Steady &#8226; Rory C Real Estate | Oakwyn Realty<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.roryc.ca\/blog\/2023\/05\/homebuyers-are-continuing-to-find-opportunities-in-fraser-valley-spring-home-sales-hold-steady\/\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:title\" content=\"Homebuyers are Continuing to Find Opportunities in Fraser Valley, Spring Home Sales Hold Steady &#8226; Rory C Real Estate | Oakwyn Realty\" \/>\n<meta name=\"twitter:description\" content=\"SURREY, BC \u2013 Despite persistent inventory shortfalls, housing sales in the Fraser Valley remained steady in April as buyers took advantage of the continued pause in interest rate hikes. 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