{"id":22162,"date":"2023-07-11T10:10:00","date_gmt":"2023-07-11T17:10:00","guid":{"rendered":"https:\/\/www.roryc.ca\/blog\/?p=22162"},"modified":"2023-07-11T08:31:51","modified_gmt":"2023-07-11T15:31:51","slug":"positive-trends-increased-activity-in-fraser-valley-resale-presale-market","status":"publish","type":"post","link":"https:\/\/www.roryc.ca\/blog\/2023\/07\/positive-trends-increased-activity-in-fraser-valley-resale-presale-market\/","title":{"rendered":"Positiv Trends & Increased Activity in Fraser Valley Resale & Presale Market"},"content":{"rendered":"

June 2023 Fraser Valley Real Estate Market Insights<\/strong><\/p>\n

Welcome to the June 2023 Fraser Valley Presale Pulse episode, a real estate show brought to you by hosts Ryan Lalonde and Brittany Reimer. Watch the video to understand the latest macroeconomics, pre-sale, and resale trends over the last 30 days affecting the local real estate market across the Fraser Valley. In this month’s episode of the Pre-Sale Pulse :<\/p>\n

Strong Absorption Rates and Impressive Deals in Fraser Valley’s Pre-Sale Market<\/strong><\/p>\n

Fraser Valley’s pre-sale market saw a relatively quiet period with fewer project launches in May as developers adjusted their strategies to respond to market conditions. However, the projects that did launch experienced strong absorption rates within a short timeframe. Notably, Sequoia achieved an impressive total of 150 deals since May, accounting for approximately 39% of its available units. Despite having larger-than-average unit sizes of 690, Sequoia commanded high-end prices of around $1,100 per square foot in the Surrey market. On the wood-frame side, Fleetwood Village II released Building 4 in April and Building 5 in May, with both phases absorbing 52% of all available units during this period. These successes reflect the continued demand and resilience of the pre-sale market in the Fraser Valley.<\/p>\n

Positive Trends and Increased Activity in Fraser Valley’s Resale Market<\/strong><\/p>\n

The resale market in May showcased positive trends and increased activity with over 1,700 sales, a 10.1% rise compared to April and a significant 25.8% surge from 2022. Proving that buyers are swiftly adapting to the new reality of high-interest rates. The most notable development was the substantial increase in active listings, reaching 5,558, a 20.0% rise from the previous month. Although this influx of supply is significant, the market remains in a tight seller’s market with a sales-to-listings ratio of 35%. The average days on the market decreased to just 9 days in May, indicating pent-up demand beginning to be released. The Home Price Index showed a 1.8% appreciation over the month but a 20.0% depreciation over the year. Despite the current rate environment, the market exhibits promise, especially for pre-sale buyers who secured prices early.<\/p>\n

Click here<\/a> to view the report & watch the video<\/a>.<\/p>\n

Fraser Valley June 2023 Pre-Sale Pulse<\/a> by MLA Canada<\/p>\n","protected":false},"excerpt":{"rendered":"

June 2023 Fraser Valley Real Estate Market Insights Welcome to the June 2023 Fraser Valley Presale Pulse episode, a real estate show brought to you by hosts Ryan Lalonde and … [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-22162","post","type-post","status-publish","format-standard","hentry","category-market-updates"],"yoast_head":"\nPositiv Trends & Increased Activity in Fraser Valley Resale & Presale Market • 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\/07\/positive-trends-increased-activity-in-fraser-valley-resale-presale-market\/\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta 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