Hesitant Buyers Resulting In A Cool Fraser Valley Real Estate Market

The amount of sales recorded in April in the Fraser Valley was the third-lowest April total of the past 10 years, says the FVREB.published by the Fraser Valley Real Estate Board on Thursday, the amount of active listings in the market is currently at 7,313, which represents an 18% increase from March, a 17% increase from the 10-year average for April, and a total not seen since September 2020.

For the sales-to-new-listings ratio, a ratio of 40% or lower is considered a buyers' market, a ratio of 55% or higher is considered a sellers' market, and anything in between is considered a sign of market balance. With 1,471 home sales and 7,313 total active listings after April, the sales-to-active-listings ratio is now at 20.1% after being at 22.5% following March, which again indicates movement towards favouring buyers.At the end of April, the benchmark price was $1,532,700 for single-family homes, $854,700 for townhouses, and $561,900 for condominiums.

There are some signs that activity is picking up, however. In terms of the average number of days a property spends on the market, single-family homes are down from 27 days to 23 days, townhouses are down from 20 days to 19 days, and condominiums are down from 26 days to 23 days.What's In A Name? Out Of Date MLS Maps Are Getting Toronto Neighbourhoods Wrong​The King Square Shopping Centre in Markham opened in 2019 and a hotel was also planned for the mall's surface parking lot.

Source: News Formal (newsformal.com)

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