I’m sure many of you are wondering if the market this spring is going to turn out a lot like last spring. Well, without further ado, it looks like it’s on track to be a bit more steady. This is good news for all.
Last year’s demand on the market created a very difficult position for all consumers. Prices skyrocketed, leaving many buyers out of the market, due to lack of affordability. While sellers had an easier time getting a top notch price for their home, many then became frustrated when it was their turn to buy a home, with a lack of options and being outbid numerous times on several properties.
February’s stats show a return to ‘more typical levels in February, with sales and new listing intake on-par with the 10-year average for the month.’ We’re also seeing a diversifying effect, with condos and town-homes becoming more popular than in previous years, with detached homes just as popular as before. This means that no matter what type of home you have, it’s an advantageous time to sell!
For buyers, this means that there’s substantially less competition for each home, compared to last year. While yes, we are currently still in a seller’s market, this is where having a skilled and competent Realtor®, who has your best interests first, becomes paramount. It could be the difference in finding a home that works, or a home that you truly love!
If you are wondering what this new information means to you or your home specifically, or have questions about the market in general, give us a call or text! We LOVE talking about this kind of stuff.
To view the whole stats package, click here: http://www.realtorlink.ca/content/dam/realtorlink/bc/fraser-valley/statistics/statistics-package-archive/2017/Package201702.pdf
