Fraser Valley Real Estate Market - Still active!
According to the end of the month stats from the Fraser Valley Real Estate Board, the real estate market in the Fraser Valley just keeps moving along. When comparing the number of sales recorded through October of 2009 to the number of sales in October or 2008 this year shows a dramatic 127% increase. There was even an increase of just under 10% over September 2009. At the same time the number of new listings recorded was also down about 10%.
Even with these numbers the market, statistically speaking, remains balanced. It is neither a Buyers market nor Seller's market with supply statistically equalling demand. What does all this mean? Well, if you own a home and are considering a change, up-sizing or down-sizing or even just changing location, you can expect to sell if you keep your expectations within the market range your property falls. If you are looking at buying you have time to have a look around but don't dally should you find something that suits. Chances are that someone else will find it too and bidding wars generally only benefit the Seller.
If you are looking to buy or sell the best advice I can give is to talk to your Realtor. They have access to all properties and can represent your interests when dealing with all of the details that come up in a real estate transaction.
Posted by Len Visser
on November 4, 2009