Although sales are remaining high, home buyers are still facing one of the worst housing supply shortages in history. In fact our housing stock levels have not been this low since the early 80's.
To put this in perspective, for every 100 Townhomes on the market in August, 94 were sold.
The total active listings across the Fraser Valley board have dropped by 44.9% compared to August last year, however, total home sales are still up 2.4% compared to August 2020. This leaves us with insufficient supply to meet our growing population.
This leaves the market condition still heavily favouring the seller. If inventory stays this low than it looks like September will still be a strong sellers market.
If you have any questions about listing your home or if you would like a free, no-commitment evaluation please feel free to call or text me anytime at 604-798-3960