Fraser Valley market shows early bloom with February sales lift
The Fraser Valley market showed early signs of a spring thaw in February, with sales increasing over January, but continuing to trail typical levels for this time of year.
The Fraser Valley Real Estate Board recorded 843 sales on its Multiple Listing Service® (MLS®) in February, a 36 per cent increase from January, but 38 per cent below the ten-year seasonal average. New listings declined nine per cent in February to 2,796, suggesting some sellers are choosing to wait amid competitive inventory levels, and may be positioning their homes for the peak of the spring market.
“Buyer-friendly conditions continue to define the Fraser Valley market,” said Tore Jacobsen, Chair of the Fraser Valley Real Estate Board. “While we did see a welcome bump in sales over January, they remain well below seasonal averages. With ample inventory and soft prices, this window may prove to be a key buying opportunity, particularly as prices settle. As we move closer to spring, we’re hopeful that improved economic stability will encourage more buyers to re-enter the market.”
The Fraser Valley remains firmly in a buyer’s market, with an overall sales-to-active listings ratio of ten per cent in February. A balanced market is typically defined by a ratio between 12 and 20 per cent.
“Many households are in a holding pattern right now, waiting for clearer signs that the economy is finding its footing,” said Baldev Gill, CEO of the Fraser Valley Real Estate Board. “Elevated economic uncertainty over the past year has cast a shadow over families’ big financial decisions, including buying or selling a home. In times like these, a professional REALTOR® plays a critical role, offering trusted advice, local mark insight, and the confidence needed to make informed moves."
Here's a brief overview in various regions📈📊📉 To see more regions contact me JBaxter@HomelifeBC.com I'd be happy to send you more information!
The Fraser Valley market showed early signs of a spring thaw in February, with sales increasing over January, but continuing to trail typical levels for this time of year.
The Fraser Valley Real Estate Board recorded 843 sales on its Multiple Listing Service® (MLS®) in February, a 36 per cent increase from January, but 38 per cent below the ten-year seasonal average. New listings declined nine per cent in February to 2,796, suggesting some sellers are choosing to wait amid competitive inventory levels, and may be positioning their homes for the peak of the spring market.
“Buyer-friendly conditions continue to define the Fraser Valley market,” said Tore Jacobsen, Chair of the Fraser Valley Real Estate Board. “While we did see a welcome bump in sales over January, they remain well below seasonal averages. With ample inventory and soft prices, this window may prove to be a key buying opportunity, particularly as prices settle. As we move closer to spring, we’re hopeful that improved economic stability will encourage more buyers to re-enter the market.”
The Fraser Valley remains firmly in a buyer’s market, with an overall sales-to-active listings ratio of ten per cent in February. A balanced market is typically defined by a ratio between 12 and 20 per cent.
“Many households are in a holding pattern right now, waiting for clearer signs that the economy is finding its footing,” said Baldev Gill, CEO of the Fraser Valley Real Estate Board. “Elevated economic uncertainty over the past year has cast a shadow over families’ big financial decisions, including buying or selling a home. In times like these, a professional REALTOR® plays a critical role, offering trusted advice, local mark insight, and the confidence needed to make informed moves."
Here's a brief overview in various regions📈📊📉 To see more regions contact me JBaxter@HomelifeBC.com I'd be happy to send you more information!