Ben Truscott Real Estate Report - January 2022

Ben Truscott Real Estate Report - January 2022

Hi Everyone!

As we start off the new year we are slowly seeing an increase in active listings.

Although active listings are still down by 31.6% at 381 in January 2022 compared to January 2021's 577 active listings, we have seen an increase from last month by 34.6% in the Chilliwack.

The Fraser Valley is following the same trend with 2,332 active listings in January 2022 compared to 4,210 in January 2021 which is a decrease of 44.6%. However compared to last month the active listings have increased by 19.2%.

Although it is still early in the year, this is a good sign for buyers. If active listings continue to increase we could see an easing of the supply and demand issue the Fraser Valley has been facing. We still have a long way to go to replenish our housing stock and bring balance to the market, however this is a step in the right direction.

The average days on market continues to decrease from last year at 29 days In January 2022 compared to 38 days in January 2021. That is a decrease of 23.7% for the Chilliwack.

The Fraser Valleys average days on market has decreased by 42.8% with 20 days in January 2022 compared to 35 days in January 2021.

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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