Ben Truscott Real Estate Report - February 2022

Ben Truscott Real Estate Report - February 2022

Hi Everyone!

Active listings are on the rise! If you have been thinking of selling, but waiting for the right moment, this could be it.

When market conditions shift they tend to shift extremely fast, and the fast paced market can be over before you know it.

Over the last month we have seen FAR more listings than previously, while the amount of sales has stayed the same, or even decreased, which means the market conditions are starting to shift away from being a "seller's market" to a "balanced market".

This means that there will be more choices for home buyers and they will not need to write a large amount over the asking price in order to win, and with interest rates rising as well it's possible we could start to see prices lower soon.

If you are thinking of selling, right now you can still get record high prices but that might change soon!

The Fraser Valley is following the same trend with record volume of new listings.

By the end of February the total active listings available for purchase were 3,790, a decrease of 8.0 per cent compared February 2021, however, 62.5 per cent higher than what was available at the end of January. It’s the highest month-over-month increase in active listings in the Fraser Valley in 20 years.

Have you been thinking of buying or selling but you're not sure if now is the right time? Give me a call or text at 604-798-3960, I am happy to look into your current situation and provide you will all the details you need in order to make an informed decision!


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